Tenn. Code Ann. § 47-4-203: Effect of instructions

Subject to chapter 3 of this title concerning conversion of instruments (§ 47-3-420 ) and restrictive endorsements (§ 47-3-206 ), 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.