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KRS 355.4A-503

Injunction or restraining order with respect to funds transfer

Known as the Uniform Commercial Code

The act spans §§ 355.10-101 to 355.9-809 (686 sections).

Effective: July 14, 1992 History: Created 1992 Ky

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.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.