Section 4--203. Effect of Instructions.\n Subject to the provisions of Article 3 concerning conversion of\ninstruments (Section 3--419) and the provisions of both Article 3 and\nthis Article concerning restrictive indorsements only a collecting\nbank's transferor can give instructions which affect the bank or\nconstitute notice to it and a collecting bank is not liable to prior\nparties for any action taken pursuant to such instructions or in\naccordance with any agreement with its transferor.\n
Effect of Instructions
N.Y. Uniform Commercial Code Law § 4-203, under Collection of Items: Depositary and Collecting Banks.
N.Y. Uniform Commercial Code Law § 4-203