O.C.G.A.

O.C.G.A. § 11-4-203 (2019)

Effect of instructions

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.

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Subject to Article 3 of this title concerning conversion of instruments (Code Section 11-3-420) and restrictive indorsements (Code Section 11-3-206), 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.

History

Code 1933, § 109A-4-203, enacted by

Ga. L. 1962, p. 156, § 1; Ga. L. 1996, p. 1306, § 6.

Annotations

RESEARCH REFERENCES Am. Jur. 2d. 11 Am. Jur. 2d, Banks and Financial Institutions, § 976. C.J.S. 9 C.J.S., Banks and Banking, § 383 et seq.

U.L.A. Uniform Commercial Code (U.L.A.) § 4203.

Notes of Decisions

Cited in 1 case, 1992–1992 · leading case: First Guar. Bank v. Nw. Georgia Bank, 417 S.E.2d 348 (Ga. Ct. App. 1992).

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First Guar. Bank v. Nw. Georgia Bank, 417 S.E.2d 348 (Ga. Ct. App. 1992). · cites it 8× “It applied OCGA § 11-4-203, under which a collecting bank is not liable to prior parties for any action taken pursuant to instructions given by the collecting bank’s transferor, which in this case is First Guaranty.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.