Section 9--340. Effectiveness of Right of Recoupment or Set-off Against

Deposit Account.

(a) Exercise of recoupment or set-off. 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) Recoupment or set-off not affected by security interest. 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) When set-off ineffective. 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 9--104(a)(3), if the set-off is based on a claim
against the debtor.