South Dakota § 57A-9-340 Bank's right of recoupment or setoff against party holding security interest in deposit account.

South Dakota Statutes

§ 57A-9-340 — Bank's right of recoupment or setoff against party holding security interest in deposit account.

South Dakota § 57A-9-340

Title 57AUNIFORM COMMERCIAL CODE

Ch. 57A-6SECURED TRANSACTIONS

This text of South Dakota § 57A-9-340 (Bank's right of recoupment or setoff against party holding security interest in deposit account.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 57A-9-340 (2026).

Text

(a)Except as otherwise provided in subsection (c), a bank with which a deposit account is maintained may exercise any right of recoupment or set - off against a secured party that holds a security interest in the deposit account.

(b)Except as otherwise provided in subsection (c), the application of this article to a security interest in a deposit account does not affect a right of recoupment or set - off of the secured party as to a deposit account maintained with the secured party.

(c)The exercise by a bank of a set - off against a deposit account is ineffective against a secured party that holds a security interest in the deposit account which is perfected by control under § 57A-9-104(a)(3), if the set - off is based on a claim against the debtor.

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(a) Except as otherwise provided in subsection (c), a bank with which a deposit account is maintained may exercise any right of recoupment or set - off against a secured party that holds a security interest in the deposit account. (b) Except as otherwise provided in subsection (c), the application of this article to a security interest in a deposit account does not affect a right of recoupment or set - off of the secured party as to a deposit account maintained with the secured party. (c) The exercise by a bank of a set - off against a deposit account is ineffective against a secured party that holds a security interest in the deposit account which is perfected by control under § 57A-9-104(a)(3), if the set - off is based on a claim against the debtor.