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2012 Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL CODE
Article 4: BANK DEPOSITS AND COLLECTIONS
11 §4-203. Effect of instructions


11 ME Rev Stat § 4-203 (2012 through 125th Legis) What's This?

Part 2: COLLECTION OF ITEMS; DEPOSITARY AND COLLECTING BANKS

§4-203. Effect of instructions

Subject to Article 3-A concerning conversion of instruments (section 3-1420) and restrictive indorsements (section 3-1206) 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. [1993, c. 680, Pt. A, §20 (AMD).]

SECTION HISTORY

1993, c. 293, §B20 (AMD). 1993, c. 680, §A20 (AMD).

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