{"data":{"id":"us-or/ors-79a.3400","jurisdiction":"us-or","citation":"ORS 79A.3400","heading":"UCC 9-340. Effectiveness of right of recoupment or setoff against deposit account.","body":"(1) Except as otherwise provided in subsection (3) of this section, 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) of this section, the application of this chapter 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 which is perfected by control under ORS 79A.1040 (1)(c), if the setoff is based on a claim against the debtor.","path":["02 - Business Organizations, Commercial Code","8. Commercial Transactions","Chapter 79A — Secured Transactions"],"source_url":"https://www.oregonlegislature.gov/bills_laws/ors/ors079A.html","current_through":"2025 Edition","vintage":"","retrieved_at":"2026-09-03T23:50:11Z","sha256":"b5bb71bfcf2dde1bc49ee55850f3602b36a19a412bb78cc7fe5c914f1fff9a0c","source_id":"us-or","stale":false,"prev":"us-or/ors-79a.3390","next":"us-or/ors-79a.3410"},"notice":"GroundRules: Original legal text. Not legal advice."}