2014 Wyoming Statutes
TITLE 34.1 - UNIFORM COMMERCIAL CODE
ARTICLE 9 - SECURED TRANSACTIONS
34.1-9-340. Effectiveness of right of recoupment or set-off against deposit account.


WY Stat § 34.1-9-340 (2014) What's This?

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.

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