Kentucky Statutes 355.4-203 – Effect of instructions
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Subject to Article 3 of this chapter concerning conversion of instruments (KRS 355.3-
420) and restrictive indorsements (KRS 355.3-206), 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.
Effective: January 1, 1997
History: Amended 1996 Ky. Acts ch. 130, sec. 85, effective January 1, 1997. — Created
1958 Ky. Acts ch. 77, sec. 4-203, effective July 1, 1960.
420) and restrictive indorsements (KRS 355.3-206), 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.
Terms Used In Kentucky Statutes 355.4-203
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
Effective: January 1, 1997
History: Amended 1996 Ky. Acts ch. 130, sec. 85, effective January 1, 1997. — Created
1958 Ky. Acts ch. 77, sec. 4-203, effective July 1, 1960.