- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 29. Secured Transactions
- Section 340. Effectiveness of Right of Recoupment or Setoff Against Deposit Account.
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. Priority Subject to Subordination.
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. Bank's Rights and Duties With Respect to Deposit Account.
AS 45.29.340. Effectiveness of Right of Recoupment or Setoff Against Deposit Account.
- (a) Except as otherwise provided in (c) of this section, a bank with which a deposit account is maintained may exercise a
right of recoupment or setoff against a secured party that holds a security interest in the deposit account.
- (b) Except as otherwise provided in (c) of this section, 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.
- (c) 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 that is perfected by control under AS 45.29.104(a)(3) if the setoff is based on a claim against
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