Section 45.04.203. Effect of instructions.

Latest version.

Subject to the provisions concerning conversion of instruments (AS 45.03.420) and restrictive endorsements (AS 45.03.206), 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 an action taken under these instructions or in accordance with an agreement with its transferor.

Notes

History

(Sec. 4.203 ch 114 SLA 1962; am Sec. 96 ch 35 SLA 1993)

                    
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