30-4-203 Effect of instructions

30-4-203 . Effect of instructions. Subject to the provisions of chapter 3 concerning conversion of instruments ( 30-3-419 ) and restrictive endorsements ( 30-3-205 ), 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 such instructions or in accordance with any agreement with its transferor.