30-4-203. Effect of instructions. Subject to the provisions of chapter 3 concerning conversion of instruments (30-3-419) and restrictive endorsements (30-3-205), 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 such instructions or in accordance with any agreement with its transferor.
History: En. Sec. 4-203, Ch. 264, L. 1963; R.C.M. 1947, 87A-4-203; amd. Sec. 166, Ch. 410, L. 1991.
Structure Montana Code Annotated
Chapter 4. Uniform Commercial Code Bank Deposits and Collections
Part 2. Collection of Items Depositary and Collecting Banks
30-4-202. Responsibility for collection or return -- when action timely
30-4-203. Effect of instructions
30-4-204. Methods of sending and presenting -- sending directly to payor bank
30-4-205. Depositary bank holder of unindorsed item
30-4-206. Transfer between banks
30-4-208. Security interest of collecting bank in items, accompanying documents, and proceeds
30-4-209. When bank gives value for purposes of holder in due course
30-4-211. Medium and time of settlement by bank
30-4-212. Right of charge-back or refund -- liability of collecting bank -- return of item
30-4-214. Insolvency and preference