GroundRules
Iowa Code § 554.4203: Effect of instructions.
Where this section sits in the code
- Title XIII - COMMERCE (Ch. 505 - 554I)
- Chapter 554 - UNIFORM COMMERCIAL CODE
- Article 4 - BANK DEPOSITS AND COLLECTIONS
- Part 2 - COLLECTION OF ITEMS: DEPOSITARY AND COLLECTING BANKS
Subject to Article 3 concerning conversion of instruments (section 554.3420) and restrictive endorsements (section 554.3206), 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.
Collected 2026-09-14T19:40:15Z. Source file · JSON