Alaska Statutes: AS 45.14.503. Injunction or Restraining Order With Respect to Funds Transfer.

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Alaska Statutes. Title 45. Trade and Commerce Chapter 14. Funds Transfers Section 503. Injunction or Restraining Order With Respect to Funds Transfer.

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AS 45.14.503. Injunction or Restraining Order With Respect to Funds Transfer.

(a) 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.
(b) Except as provided in (a) of this section, 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.

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Last modified 9/3/2005