                                 CODE OF VIRGINIA

EFFECT OF INSTRUCTIONS (§ 8.4-203)

Subject to Title 8.3A concerning conversion of instruments (§ 8.3A-420) and
restrictive endorsements (§ 8.3A-206), only a collecting bank&#8217;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.

HISTORY: 1964, c. 219; 1992, c. 693.