8.4A-503 - A-503. Injunction or restraining order with respect to funds transfer. - Virginia Statutes

§ 8.4A-503. Injunction or restraining order with respect to funds transfer.

For proper cause and in compliance with applicable law, a court may restrain(i) a person from issuing a payment order to initiate a funds transfer, (ii)an originator's bank from executing the payment order of the originator, or(iii) the beneficiary's bank from releasing funds to the beneficiary or thebeneficiary from withdrawing the funds. A court may not otherwise restrain aperson from issuing a payment order, paying or receiving payment of a paymentorder, or otherwise acting with respect to a funds transfer.

(1990, c. 9.)