Section 4-203 - Effect of instructions. - Maryland Statutes

§ 4-203. Effect of instructions.
 

Subject to Title 3 concerning conversion of instruments (§ 3-420) and restrictive indorsements (§ 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. 
 

[An. Code 1957, art. 95B, § 4-203; 1975, ch. 49, § 2; 1996, ch. 91, § 2.]