Section 4A503 - Injunction or restraining order with respect to funds transfer

13 PA Cons Stat § 4A503 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

§ 4A503. Injunction or restraining order with respect to funds

transfer. For proper cause and in compliance with applicable law, a court may restrain:

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

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

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