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 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.
N.H. Rev. Stat. Ann. § 382-A:4-203
Effect of Instructions
Known as the Uniform Commercial Code
The act spans §§ 382-A:1-101 to 382-A:9-809 (637 sections).
Source. 1993, 346:1, eff
Official source: New Hampshire General Court. Reproduced from public-domain New Hampshire statutes; confirm against the official source for the current text. Not legal advice.