Utah Code 70A-4a-503. Injunction or restraining order with respect to funds transfer
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(1) For proper cause and in compliance with applicable law, a court may restrain:
Terms Used In Utah Code 70A-4a-503
- 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 :(24)(a) an individual;(24)(b) an association;(24)(c) an institution;(24)(d) a corporation;(24)(e) a company;(24)(f) a trust;(24)(g) a limited liability company;(24)(h) a partnership;(24)(i) a political subdivision;(24)(j) a government office, department, division, bureau, or other body of government; and(24)(k) any other organization or entity. See Utah Code 68-3-12.5(1)(a) a person from issuing a payment order to initiate a funds transfer;(1)(b) an originator’s bank from executing the payment order of the originator; or(1)(c) the beneficiary‘s bank from releasing funds to the beneficiary or the beneficiary from withdrawing the funds.
(2) 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.