(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 chapter 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 § 4-9-104(a)(3), if the set-off is based on a claim against the debtor.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
Chapter 9 - Secured Transactions
Part 3 - Perfection and Priority
§ 4-9-340. Effectiveness of right of recoupment or set-off against deposit account
§ 4-9-341. Bank's rights and duties with respect to deposit account
§ 4-9-342. Bank's right to refuse to enter into or disclose existence of control agreement