Okla. Stat. tit. 12A § 4-203
Subject to Article 3 of this title concerning conversion of instruments (Section 3-420 of this title) and restrictive indorsements (Section 3-206 of this title), 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.
Okla. Stat. tit. 12A, § 4-203
Oklahoma Code Comment
The requirement of speed in collection channels and the practical necessity of handling items in bulk makes it necessary establish a "chain of command." A bank must use ordinary care in carrying out instructions. See UCC § 4-202 Adams v. Bank of Hydro, 239 F.Supp. 987 (W.D. Okla. 1965). Note, however, that this Section does not apply to payor banks, and does not prevent the drawer from placing a stop payment order. If there are adverse claims to an instrument, then the owner may give proper instructions to the depositary bank, which in turn can communicate them to the other collecting banks, but a collecting bank should not be required to evaluate, at its peril, instructions out of the proper chain of command.
Another important qualification is that this Section is subject to the rules applicable to restrictive indorsements and to conversion. The conversion rule (UCC § 3-420) imposes liability on an intermediary bank for funds still in its hands as a result of payment under a forged necessary indorsement.