Subject to Article 3?A concerning conversion of instruments (section 3?1420) and restrictive indorsements (section 3?1206) 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. [PL 1993, c. 680, Pt. A, §20 (AMD).]