Mich. Comp. Laws § 440.4953

Current through Public Act 171 of the 2024 Legislative Session
Section 440.4953 - Powers of court with respect to funds transfer

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.

MCL 440.4953

Add. 1992, Act 100, Imd. Eff. 6/25/1992.