Md. Code, Com. § 4-203 : COMMERCIAL LAW — BANK DEPOSITS AND COLLECTIONS — COLLECTION OF ITEMS: DEPOSITARY AND COLLECTING BANKS —203 - Effect of instructions

Subject to Title 3 concerning conversion of instruments (§ 3-420 ) and restrictive indorsements (§ 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.