Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 4A. · Article 4A. FUNDS TRANSFERS · Part 5. MISCELLANEOUS PROVISIONS

11-4A-503. Injunction or restraining order with respect to funds transfer.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

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.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

Code 1981, § 11-4A-503, enacted by Ga. L. 1992, p. 2685, § 4.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-2022-pdf.pdf, Volume V9, 2022 edition, page 571; merge action: carried; file SHA-256 ad397fccbf21.