§ 34.1-9-340 — Effectiveness of right of recoupment or set-off against deposit account

(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 section 34.1-9-104(a)(iii), if the set-off is
based on a claim against the debtor.