Tenn. Code § 47-4A-503

Current through Acts 2023-2024, ch. 1069

Section 47-4A-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.

T.C.A. § 47-4A-503

Acts 1991, ch. 52, § 1.