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Can you summarize IACO 554.4203?
UNIFORM COMMERCIAL CODE > Effect of instructions.
Short Summary
Subject to Article 3 concerning conversion of instruments (section 554.3420) and restrictive endorsements (section 554.3206), only a collecting banks 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. [C66, 71, 73, 75, 77, 79, 81, 554.4203] 94 Acts, ch 1167, 90, 122
Jurisdiction
Iowa