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Uniform Commercial Code | |
Uniform Commercial Code - Bank Deposits and Collections | |
Section 203 | Effect of instructions. |
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70A-4-203. Effect of instructions. Subject to Title 70A, Chapter 3, Uniform Commercial Code -- Negotiable Instruments, concerning conversion of instruments, Section 70A-3-420, and restrictive indorsements only, Section 70A-3-206, 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.
Amended by Chapter 12, 1994 General Session |
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