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2013 Maryland Code
COMMERCIAL LAW
§ 4-203 - Effect of instructions
MD Comm L Code § 4-203 (2013) What's This?
§4-203.
Subject to Title 3 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.
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