§ 4-4-203 - Effect of instructions. - Arkansas Statutes

4-4-203. Effect of instructions.

Subject to chapter 3 of this subtitle concerning conversion of instruments ( 4-3-420) and restrictive indorsements ( 4-3-206), 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.