STATE STATUTES & CODES
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MAINE STATUTES AND CODES
11 §4-203. Effect of instructions
Title 11: UNIFORM COMMERCIAL CODE
Article 4: BANK DEPOSITS AND COLLECTIONS
Part 2: COLLECTION OF ITEMS; DEPOSITARY AND COLLECTING BANKS
§4-203. Effect of instructions
Subject to Article 3-A concerning conversion of instruments (section 3-1420) and restrictive indorsements (section 3-1206) 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. [1993, c. 680, Pt. A, §20 (AMD).]
SECTION HISTORY
1993, c. 293, §B20 (AMD). 1993, c. 680, §A20 (AMD).