Oregon Statutes - Chapter 74 - Bank Deposits and Collections - Section 74.2030 - Effect of instructions.

Subject to ORS 73.0420 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; 1993 c.545 §86]

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Last modified: August 7, 2008