Arizona § 47-9340 Effectiveness of right of recoupment or setoff against deposit account

Arizona Statutes

§ 47-9340 — Effectiveness of right of recoupment or setoff against deposit account

Arizona § 47-9340

Title 47Arizona Revised Statutes

Ch. 9SECURED TRANSACTIONS

Art. 3Perfection and Priority

This text of Arizona § 47-9340 (Effectiveness of right of recoupment or setoff against deposit account) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 47-9340 (2026).

Text

A.Except as otherwise provided in subsection C of this section, a bank with which a deposit account is maintained may exercise any right of recoupment or setoff against a secured party that holds a security interest in the deposit account.

B.Except as otherwise provided in subsection 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 section 47-9104, subsection A, paragraph 3, if the setoff is based on a claim against the debtor

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A. Except as otherwise provided in subsection C of this section, a bank with which a deposit account is maintained may exercise any right of recoupment or setoff against a secured party that holds a security interest in the deposit account.

B. Except as otherwise provided in subsection 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 section 47-9104, subsection A, paragraph 3, if the setoff is based on a claim against the debtor.