2002 Minnesota Statutes

     336.7-508 Warranties of collecting bank as to documents. 

    A collecting bank or other intermediary known to be 
 entrusted with documents on behalf of another or with collection 
 of a draft or other claim against delivery of documents warrants 
 by such delivery of the documents only its own good faith and 
 authority.  This rule applies even though the intermediary has 
 purchased or made advances against the claim or draft to be 
 collected.  

    HIST: 1965 c 811 s 336.7-508