Illinois Statutes
§ 4-203 — Effect of instructions
Illinois·Topic BUSINESS AND EMPLOYMENT·Ch. 810 COMMERCIAL CODE·Act 810 ILCS 5/ Uniform Commercial Code.·Art. Article 4 - Bank Deposits And Collections
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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Illinois § 4-203 (Effect of instructions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Source: P.A. 87-582; 87-1135.)
Nearby Sections
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§ 4-101
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Separate office of bank§ 4-108
Time of receipt of items§ 4-109
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Statute of limitations§ 4-201
§ 4-201§ 4-203
Effect of instructions§ 4-204
§ 4-204