Wisconsin § 409.340 Effectiveness of right of recoupment or setoff against deposit account.

Wisconsin Statutes

§ 409.340 — Effectiveness of right of recoupment or setoff against deposit account.

Wisconsin § 409.340

Ch. 409Uniform commercial code — secured transactions

Subch.subch. III of ch. 409 SUBCHAPTER III

PERFECTION AND PRIORITY

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Bluebook

Wis. Stat. § 409.340 (2026).

Text

409.340 409.340(1) (1) Exercise of recoupment or setoff. Except as otherwise provided in sub.

(3), 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. 409.340(2) (2) Recoupment or setoff not affected by security interest. Except as otherwise provided in sub.

(3), 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. 409.340(3) (3) When setoff ineffective. 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 which is per

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409.340
409.340(1) (1) Exercise of recoupment or setoff. Except as otherwise provided in sub. (3) , 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.
409.340(2) (2) Recoupment or setoff not affected by security interest. Except as otherwise provided in sub. (3) , 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.
409.340(3) (3) When setoff ineffective. 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 which is perfected by control under s. 409.104 (1) (c) , if the setoff is based on a claim against the debtor.