Subject to Title 70A, Chapter 3, Uniform Commercial Code – Negotiable Instruments, concerning conversion of instruments, Section 70A-3-420, and restrictive indorsements only, Section 70A-3-206, 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.