Title 11, Chapter 7, Section 508
( 11-7-508)
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. | 
