§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. [PL 1993, c. 680, Pt. A, §20 (AMD).]
SECTION HISTORY
PL 1993, c. 293, §B20 (AMD). PL 1993, c. 680, §A20 (AMD).
Structure Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL CODE
Article 4: BANK DEPOSITS AND COLLECTIONS
Part 2: COLLECTION OF ITEMS; DEPOSITARY AND COLLECTING BANKS
11 §4-202. Responsibility for collection or return; when action timely
11 §4-203. Effect of instructions
11 §4-204. Methods of sending and presenting; sending directly to payor bank
11 §4-205. Depositary bank holder of unindorsed item
11 §4-206. Transfer between banks
11 §4-207-A. Transfer warranties
11 §4-207-B. Presentment warranties
11 §4-207-C. Encoding and retention warranties
11 §4-208. Security interest of collecting bank in items, accompanying documents and proceeds
11 §4-209. When bank gives value for purposes of holder in due course
11 §4-211. Media of remittance; provisional and final settlement in remittance cases (REPEALED)
11 §4-211-A. Medium and time of settlement by bank
11 §4-212. Right of charge-back or refund; liability of collecting bank; return of item