Maine Revised Statutes Title 11 Sec. 4-1503 – Injunction or restraining order with respect to funds transfer
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For proper cause and in compliance with applicable law, a court may restrain: [PL 1991, c. 812, §2 (NEW).]
(1). A person from issuing a payment order to initiate a funds transfer;
[PL 1991, c. 812, §2 (NEW).]
Terms Used In Maine Revised Statutes Title 11 Sec. 4-1503
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
(2). An originator’s bank from executing the payment order of the originator; or
[PL 1991, c. 812, §2 (NEW).]
(3). The beneficiary‘s bank from releasing funds to the beneficiary or the beneficiary from withdrawing those funds.
[PL 1991, c. 812, §2 (NEW).]
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. [PL 1991, c. 812, §2 (NEW).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW).