Indiana Statutes
§ 26-1-4-203 — Effect of instructions
Subject to of IC 26-1-3.1-420 concerning
conversion of instruments and the provisions of both IC 26-1-3.1 and
IC 26-1-4 concerning restrictive endorsements (IC 26-1-3.1-206), 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.
Formerly: Acts 1963, c.317, s.4-203. As amended by
P.L.152-1986, SEC.215; P.L.222-1993, SEC.19.
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Nearby Sections
15
§ 26-1-1-0.3
Certain security interests considered perfected§ 26-1-1-0.5
Status of certain security interests; conditions; lapsing of perfection;
filing of financing statements§ 26-1-1-101
Short title; application§ 26-1-1-104
Construction against implicit repeal§ 26-1-1-105
Repealed§ 26-1-1-106
Remedies to be liberally administered§ 26-1-1-108
Severability