§ 4203. Effect of instructions. Subject to Division 3 (relating to negotiable instruments) concerning conversion of instruments (section 3420) and restrictive indorsements (section 3206), 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. (July 9, 1992, P.L.507, No.97, eff. one year)
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Chapter 42 - Collection of Items: Depositary and Collecting Banks
Section 4202 - Responsibility for collection or return; when action timely
Section 4203 - Effect of instructions
Section 4204 - Methods of sending and presenting; sending directly to payor bank
Section 4205 - Depositary bank holder of unindorsed item
Section 4206 - Transfer between banks
Section 4207 - Transfer warranties
Section 4208 - Presentment warranties
Section 4209 - Encoding and retention warranties
Section 4210 - Security interest of collecting bank in items, accompanying documents and proceeds
Section 4211 - When bank gives value for purposes of holder in due course
Section 4213 - Medium and time of settlement by bank
Section 4214 - Right of charge-back or refund; liability of collecting bank; return of item