New Mexico Statutes
§ 55-4-203 — Effect of instructions
Subject to Article 3 concerning conversion of instruments (Section 55-3-420 NMSA 1978) and restrictive indorsements (Section 55-3-206 NMSA 1978) 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
1953 Comp., § 50A-4-203, enacted by Laws 1961, ch. 96, § 4-203; 1992, ch.
Nearby Sections
15
§ 55-1-101
Short titles§ 55-1-102
Scope of article§ 55-1-104
Construction against implicit repeal§ 55-1-105
Severability§ 55-1-106
Use of singular and plural; gender§ 55-1-107
Section captions§ 55-1-109
Repealed§ 55-1-110
Repealed§ 55-1-201
General definitions§ 55-1-202
Notice; knowledge§ 55-1-204
Value§ 55-1-205
Reasonable time; seasonableness