Cal. Com. Code § 4203

Current through the 2024 Legislative Session.
Section 4203 - Effect of instructions

Subject to Division 3 (commencing with Section 3101) 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.

Ca. Com. Code § 4203

Amended by Stats. 1992, Ch. 914, Sec. 20. Effective January 1, 1993.