Subject to Article 3‑A concerning conversion of instruments (section 3‑1420) and restrictive indorsements (section 3‑1206) 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.
Me. Rev. Stat. tit. 11, § 4-203
Effect of instructions
Known as the Uniform Commercial Code
The act spans §§ 2-101 to 9-1709 (548 sections).
PL 1993, c. 293, §B20 (AMD)
Official source: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.