Print

The Vermont Statutes Online



Title

09A

:
Uniform Commercial Code






Chapter

004

:
Bank Deposits and Collections











 

§

4-203. Effect of instructions

Subject to

Article 3 of this title 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.

(Added 1993, No. 158 (Adj. Sess.), § 13, eff. Jan. 1, 1995.)