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2011 Vermont Code
Title 09A Uniform Commercial Code
Article 4 Bank Deposits and Collections
§ 203 Effect of instructions


9A VT Stats § 4-203. (2011 through Adj Sess) What's This?

§ 4-203. Effect of instructions

Subject to article 3 concerning conversion of instruments (section 3-420) and restrictive indorsements (section 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.)

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