Louisiana Statutes
§ 10:4-203 — Effect of instructions
Louisiana·Title 10 Commercial Laws
Subject to Chapter 3 concerning conversion of instruments (R.S. 10: 3-420) and restrictive indorsements (R.S. 10:3-206), 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.
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Legislative History
Acts 1992, No. 1133, §4, eff. July 1, 1993; Acts 1993, No. 948, §10, eff. Jan. 1, 1994.
Nearby Sections
15
§ 10:4-101
§ 10:4-101§ 10:4-102
Applicability§ 10:4-104
Definitions and index of definitions§ 10:4-105
"Bank"; "depositary bank"; "payor bank"; "intermediary bank"; "collecting bank"; "presenting bank"§ 10:4-107
Separate office of bank§ 10:4-108
Time of receipt of items§ 10:4-109
Delays§ 10:4-110
Electronic presentment§ 10:4-111
Prescription§ 10:4-201
§ 10:4-201§ 10:4-203
Effect of instructions