SECTION 674.203. Effect of instructions.

Latest version.

1Subject to chapter 673 concerning conversion of instruments (s. 10673.420111) and restrictive indorsements (s. 16673.206117), 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.

History.-s. 1, ch. 65-254; s. 21, ch. 92-82.

Note

Note.-s. 4-203, U.C.C.

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