§4-203. Effect of instructions

Link to law: http://legislature.vermont.gov/statutes/section/09A/004/00203
Published: 2015

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The Vermont Statutes Online



Uniform Commercial Code



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.)