GroundRules
Minn. Stat. § 336.4-203: EFFECT OF INSTRUCTIONS.
Where this section sits in the code
- TRADE REGULATIONS, CONSUMER PROTECTION
- CHAPTER 336. 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 336.3-420) and restrictive endorsements (section 336.3-206), 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.
Collected 2026-09-02T22:10:43Z. Source file · JSON