11 §4-1503. Injunction or restraining order with respect to funds transfer - Maine Statutes

Title 11: UNIFORM COMMERCIAL CODE

Article 4-A: FUNDS TRANSFERS HEADING: PL 1991, C. 812, §2 (NEW)

Part 5: MISCELLANEOUS PROVISIONS HEADING: PL 1991, C. 812, §2 (NEW)

§4-1503. Injunction or restraining order with respect to funds transfer

For proper cause and in compliance with applicable law, a court may restrain: [1991, c. 812, §2 (NEW).]

(1). A person from issuing a payment order to initiate a funds transfer;

[ 1991, c. 812, §2 (NEW) .]

(2). An originator's bank from executing the payment order of the originator; or

[ 1991, c. 812, §2 (NEW) .]

(3). The beneficiary's bank from releasing funds to the beneficiary or the beneficiary from withdrawing those funds.

[ 1991, c. 812, §2 (NEW) .]

A court may not otherwise restrain a person from issuing a payment order, paying or receiving payment of a payment order or otherwise acting with respect to a funds transfer. [1991, c. 812, §2 (NEW).]

SECTION HISTORY

1991, c. 812, §2 (NEW).