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Code · Illinois · Chapter 810 — COMMERCIAL CODE · Act 5

Sec. 4-203. Effect of instructions.

64 words·~1 min read·/il/chapter-810/act-5/4-203

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Sec. 4-203. Effect of instructions. Subject to Article 3 concerning conversion of instruments (Section 3-420) and restrictive indorsements (Section 3-206), only a collecting bank's transferor can give instructions which 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.
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