{"data":{"id":"us-me/11-m.r.s.-9-1340","jurisdiction":"us-me","citation":"11 M.R.S. §9-1340","heading":"Effectiveness of right of recoupment or setoff against deposit account","body":"(1).   Except as otherwise provided in subsection (3), a bank with which a deposit account is maintained may exercise any right of recoupment or setoff against a secured party that holds a security interest in the deposit account.\n(2).   Except as otherwise provided in subsection (3), the application of this Article 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.\n(3).   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 section 9‑1104, subsection (1), paragraph (c), if the setoff is based on a claim against the debtor.","path":["TITLE 11: UNIFORM COMMERCIAL CODE","PART 3: PERFECTION AND PRIORITY"],"source_url":"https://legislature.maine.gov/statutes/11/title11sec9-1340.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:25Z","sha256":"6a0453b7aab193c92afe6009849904320ff306ecc668c680ca8b9f92a42208d4","source_id":"us-me","stale":false,"prev":"us-me/11-m.r.s.-9-1339","next":"us-me/11-m.r.s.-9-1341"},"notice":"GroundRules: Original legal text. Not legal advice."}