(A) Except as otherwise provided in division (C) of this 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) Except as otherwise provided in division (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 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 that is perfected by control under division (A)(3) of section 1309.104 of the Revised Code, if the set-off is based on a claim against the debtor.
Effective Date: 07-01-2001
Section: Previous 1309.333 1309.334 1309.335 1309.336 1309.337 1309.338 1309.339 1309.340 1309.341 1309.342 1309.401 1309.402 1309.403 1309.404 1309.405 NextLast modified: October 10, 2016