Section 4-A-503. Injunction or Restraining Order With Respect to Funds\n Transfer.\n For proper cause and in compliance with applicable law, a court may\nrestrain (i) a person from issuing a payment order to initiate a funds\ntransfer, (ii) an originator's bank from executing the payment order of\nthe originator, or (iii) the beneficiary's bank from releasing funds to\nthe beneficiary or the beneficiary from withdrawing the funds. A court\nmay not otherwise restrain a person from issuing a payment order, paying\nor receiving payment of a payment order, or otherwise acting with\nrespect to a funds transfer.\n
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.