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New Mexico Statutes 55-4-203. Effect of instructions

New Mexico Statutes > Chapter 55 > Article 4 > § 55-4-203 - Effect of instructions


Current as of: 2010

Subject to Article 3 concerning conversion of instruments (Section 55-3-420 NMSA 1978) and restrictive indorsements (Section 55-3-206 NMSA 1978) 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.

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See also:

New Mexico Statutes Chapter 55 > Article 4 - Bank Deposits and Collections

U.S. Code Provisions: Bank Deposits and Collections (UCC Article 4)

U.S. Code > Title 12 > Chapter 41 - Expedited Funds Availability
U.S. Code > Title 12 > Chapter 50 - Check Truncation
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