(a) 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.
(b) Except as provided in (a) of this section, 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.
Structure Alaska Statutes
Article 5. Miscellaneous Provisions.
Sec. 45.14.501. Variation by agreement and effect of funds-transfer system rule.
Sec. 45.14.502. Creditor process served on receiving bank; setoff by beneficiary's bank.
Sec. 45.14.503. Injunction or restraining order with respect to funds transfer.
Sec. 45.14.505. Preclusion of objection to debit of customer's account.