§ 6A-4-203. Effect of instructions.
Subject to chapter 3 of this title concerning conversion of instruments (§ 6A-3-420) and restrictive indorsements (§ 6A-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.
History of Section.P.L. 2000, ch. 238, § 4; P.L. 2000, ch. 421, § 4.
Structure Rhode Island General Laws
Title 6A - Uniform Commercial Code
Chapter 6A-4 - Bank Deposits and Collections
Part 2 - Collection of Items: Depositary and Collecting Banks
Section 6A-4-202. - Responsibility for collection or return — When action timely.
Section 6A-4-203. - Effect of instructions.
Section 6A-4-204. - Methods of sending and presenting — Sending directly to payor bank.
Section 6A-4-205. - Depositary bank holder of unindorsed item.
Section 6A-4-206. - Transfer between banks.
Section 6A-4-207. - Transfer warranties.
Section 6A-4-208. - Presentment warranties.
Section 6A-4-209. - Encoding and retention warranties.
Section 6A-4-211. - When bank gives value for purposes of holder in due course.
Section 6A-4-213. - Medium and time of settlement by bank.
Section 6A-4-214. - Right of charge-back or refund — Liability of collecting bank — Return of item.