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.
History. Code 1981, § 11-4A-503 , enacted by Ga. L. 1992, p. 2685, § 4.
Structure Georgia Code
Part 5 - Miscellaneous Provisions
§ 11-4A-501. Variation by Agreement and Effect of Funds-Transfer System Rule
§ 11-4A-502. Creditor Process Served on Receiving Bank; Setoff by Beneficiary’s Bank
§ 11-4A-503. Injunction or Restraining Order With Respect to Funds Transfer
§ 11-4A-505. Preclusion of Objection to Debit of Customer’s Account