2021 Code of Alabama
Title 7 - Commercial Code.
Article 4 - Bank Deposits and Collections.
Part 2 - Collection of Items: Depositary and Collecting Banks.
Section 7-4-203 - Effect of Instructions.

Universal Citation: AL Code § 7-4-203 (2021)

Section 7-4-203

Effect of instructions.

Subject to Article 3 concerning conversion of instruments (Section 7-3-420) and restrictive indorsements (Section 7-3-206), 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.

(Acts 1965, No. 549, p. 811; repealed by Acts 1995, No. 95-668, p. 1381, §2; added by Acts 1995, No. 95-668, p. 1381, §2.)

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