Bank Deposits and Collections

ORS 74.2030
Effect of instructions


Subject to ORS 73.0420 (Conversion of instrument) concerning conversion of instruments and ORS chapter 73 and this chapter concerning restrictive indorsements, 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. [1961 c.726 §74.2030 (Effect of instructions); 1993 c.545 §86]

Source

Last accessed
Jun. 26, 2021