- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 4. Bank Deposits and Collections
- Section 203. Effect of Instructions.
previous: Section 202
. Responsibility For Collection or Return; When Action Timely.
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. Methods of Sending and Presenting; Sending Directly to Payor Bank.
AS 45.04.203. Effect of Instructions.
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.
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