Effect of instructions

4-4-203. Effect of instructions. Subject to article 3 of this title concerning conversion of instruments (section 4-3-420) and restrictive indorsements (section 4-3-206), 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. Source: L. 94: Entire article amended with relocations, p. 886, � 2, effective January 1, 1995.