Sec 47-4203. Effect of instructions

Latest version.

Subject to chapter 3 of this title concerning conversion of instruments (section 47-3420) and restrictive indorsements (section 47-3206), 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.

                    
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