Wisconsin Statutes (Last Updated: January 10, 2017) |
Chapter 404. Uniform Commercial Code — Bank Deposits And Collections |
SubChapter II. COLLECTION OF ITEMS: DEPOSITARY AND COLLECTING BANKS |
Section 404.203. Effect of instructions.
Latest version.
- Subject to s. 403.420 concerning conversion of instruments and to s. 403.206 concerning restrictive endorsements, 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.