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Form a Business

Collecting bank; instructions from transferor.

MCL 440.4203
in effect
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440.4203. Collecting bank; instructions from transferor. Sec. 4203. Subject to article 3 concerning conversion of instruments (section 3420) and restrictive endorsements (section 3206) 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. 1962, Act 174, Eff. Jan. 1, 1964; Am. 1993, Act 130, Eff. Sept. 30, 1993
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-440-4203Fetched: 10/20/2026

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