N.Y. UCC Law § 4-203
This is the official text of N.Y. UCC Law § 4-203, part of New York’s UCC Law — part of the compiled statutory law of New York, published by the state as "UCC Law." Browse the sections below, each linked to its official government source.
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Effect of Instructions
Official statutory text
Section 4--203. Effect of Instructions.\n Subject to the provisions of Article 3 concerning conversion of\ninstruments (Section 3--419) and the provisions of both Article 3 and\nthis Article concerning restrictive indorsements only a collecting\nbank's transferor can give instructions which affect the bank or\nconstitute notice to it and a collecting bank is not liable to prior\nparties for any action taken pursuant to such instructions or in\naccordance with any agreement with its transferor.\n
Status: in_force · Read it on the official government site
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