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Texas Business & Commerce Code

§ 4A.503 — INJUNCTION OR RESTRAINING ORDER WITH RESPECT TO FUNDS TRANSFER

BC § 4A.503Title 1. UNIFORM COMMERCIAL CODE · Ch. 4A. FUNDS TRANSFERS · Art. E. MISCELLANEOUS PROVISIONS

Statute text

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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 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.

Legislative history

Added by Acts 1993, 73rd Leg., ch. 570, Sec. 7, eff. Sept. 1, 1993.

Source: Texas Business & Commerce Code § 4A.503 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.