Mass. Gen. Laws ch. 106 § 4-203
Current through Chapter 231 of the 2024
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 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.
Mass. Gen. Laws ch. 106, § 4-203