EFFECT OF INSTRUCTIONS
Subject to Article 3 of this title concerning conversion of instruments (Section 3-420 of this title) and restrictive indorsements (Section 3-206 of this title), only a collecting bank's transferor can give instructions that affect the bank or constitute notice to it, and a collecting bank is not liable to prior parties for any action taken pursuant to the instructions or in accordance with any agreement with its transferor.
Laws 1961, p. 124, § 4-203; Laws 1991, c. 117, § 107, eff. Jan. 1, 1992.
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