Sec. 4A.503. INJUNCTION OR RESTRAINING ORDER WITH RESPECT TO FUNDS TRANSFER. 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.
Added by Acts 1993, 73rd Leg., ch. 570, Sec. 7, eff. Sept. 1, 1993.
Structure Texas Statutes
Title 1 - Uniform Commercial Code
Subchapter E. Miscellaneous Provisions
Section 4A.501. Variation by Agreement and Effect of Funds Transfer System Rule
Section 4A.502. Creditor Process Served on Receiving Bank; Setoff by Beneficiary's Bank
Section 4A.503. Injunction or Restraining Order With Respect to Funds Transfer
Section 4A.505. Preclusion of Objection to Debit of Customer's Account