{"data":{"id":"us-mn/minn.-stat.-336.9-340","jurisdiction":"us-mn","citation":"Minn. Stat. § 336.9-340","heading":"EFFECTIVENESS OF RIGHT OF RECOUPMENT OR SETOFF AGAINST DEPOSIT ACCOUNT.","body":"(a) Exercise of recoupment or setoff. Except as otherwise provided in subsection (c), 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(b) Recoupment or setoff 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 setoff of the secured party as to a deposit account maintained with the secured party.\n(c) When setoff ineffective. 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 which is perfected by control under section 336.9-104(a)(3), if the setoff is based on a claim against the debtor.","path":["TRADE REGULATIONS, CONSUMER PROTECTION","CHAPTER 336. UNIFORM COMMERCIAL CODE","SUBPART 4. RIGHTS OF BANK"],"source_url":"https://www.revisor.mn.gov/statutes/cite/336.9-340","current_through":"2025 Minnesota Statutes","vintage":"","retrieved_at":"2026-09-02T22:10:43Z","sha256":"41c3c5b6ac2938ca4f4a594ede467ed2cdd791c08c03262bcdb36d4a23fbc1f0","source_id":"us-mn","stale":false,"prev":"us-mn/minn.-stat.-336.9-339","next":"us-mn/minn.-stat.-336.9-341"},"notice":"GroundRules: Original legal text. Not legal advice."}