One Click Case Law for § 11-9-340
O.C.G.A. § 11-9-339 <-- --> O.C.G.A. §11-9-341

2010 Georgia Code

TITLE 11 - COMMERCIAL CODE
ARTICLE 9 - SECURED TRANSACTIONS
PART 3 - PERFECTION AND PRIORITY
PART 4 - RIGHTS OF BANK
§ 11-9-340 - Effectiveness of right of recoupment or set-off against deposit account

O.C.G.A. 11-9-340 (2010)
11-9-340. 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) of this Code section, 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) of this Code section, 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 paragraph (3) of subsection (a) of Code Section 11-9-104, if the set-off is based on a claim against the debtor.