Alaska Statutes: AS 45.29.340. Effectiveness of Right of Recoupment or Setoff Against Deposit Account.

Alaska Statutes. Title 45. Trade and Commerce Chapter 29. Secured Transactions Section 340. Effectiveness of Right of Recoupment or Setoff Against Deposit Account.

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AS 45.29.340. Effectiveness of Right of Recoupment or Setoff Against Deposit Account.

(a) Except as otherwise provided in (c) of this section, a bank with which a deposit account is maintained may exercise a right of recoupment or setoff against a secured party that holds a security interest in the deposit account.
(b) Except as otherwise provided in (c) of this section, the application of this chapter to a security interest in a deposit account does not affect a right of recoupment or setoff of the secured party as to a deposit account maintained with the secured party.
(c) The exercise by a bank of a setoff against a deposit account is ineffective against a secured party that holds a security interest in the deposit account that is perfected by control under AS 45.29.104(a)(3) if the setoff is based on a claim against the debtor.

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