A Bar Board of Governors committee is concerned that Florida lawyers aren't sufficiently aware of a recent Supreme Court ruling that they must issue stop payment orders
on checks issued from their trust accounts if they are served with writs of garnishment seeking that money.
Until that point, a payor may issue a stop payment order on the check, transfer the funds to another account, or even liquidate the bank account.
"Thus, a payor of a check may issue a stop payment order after the check has been written in an attempt to prevent the check from being paid and the funds from being transferred to the payee," the court said.
5, the publicly listed bank controlled by the wealthy Yuchengco family received a stop payment order from the Federal Bank of New York at 5 p.m.
The stop payment order was received by your bank, Feb 8, 2016, he told RCBC president and CEO Lorenzo Tan.
After the stop payment order
was received from the Bangladesh central bank at 9:57 a.m.
The department issued stop payment orders
because of which the refund outgo in two cases could be prevented.
The new implementation would help the bank provide services such as account inquiry, funds transfers, bill payment, chequebook request and stop payment orders