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New Jersey Statutes, Title: 12A, COMMERCIAL TRANSACTIONS

    Chapter 4a:

      Section: 12A:4a-503: Injunction or restraining order with respect to funds transfer

           12A: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.

L.1994,c.114,s.2.



This section added to the Rutgers Database: 2013-06-10 16:36:30.






Older versions of 12a:4a-503 (if available):



Court decisions that cite this statute: CLICK HERE.