North Dakota Code 41-04.1-34 – (4A-503) Injunction or restraining order with respect to funds transfer
Current as of: 2023 | Check for updates
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For proper cause and under applicable law, a court may restrain a person from issuing a payment order to initiate a funds transfer, an originator’s bank from executing the payment order of the originator, 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.
Terms Used In North Dakota Code 41-04.1-34
- 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
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49