Subject to Chapter 3 concerning conversion of instruments (Section 75-3-420) and restrictive indorsements (Section 75-3-206), 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.
Structure Mississippi Code
Title 75 - Regulation of Trade, Commerce and Investments
Chapter 4 - Uniform Commercial Code-Bank Deposits and Collections
Part 2 - . Collection of Items: Depositary and Collecting Banks
§ 75-4-202. Responsibility for collection or return; when action timely
§ 75-4-203. Effect of instructions
§ 75-4-204. Methods of sending and presenting; sending directly to payor bank
§ 75-4-205. Depositary bank holder of unindorsed item
§ 75-4-206. Transfer between banks
§ 75-4-207. Transfer warranties
§ 75-4-208. Presentment warranties
§ 75-4-209. Encoding and retention warranties
§ 75-4-210. Security interest of collecting bank in items, accompanying documents and proceeds
§ 75-4-211. When bank gives value for purposes of holder in due course
§ 75-4-213. Medium and time of settlement by bank
§ 75-4-214. Right of charge-back or refund; liability of collecting bank; return of item