Alaska § 45.29.340 - Effectiveness of right of recoupment or setoff against deposit account.
Full text of Alaska Alaska Statutes § 45.29.340 — Effectiveness of right of recoupment or setoff against deposit account., with citation guidance and answers to common questions.
§ 45.29.340. Effectiveness of right of recoupment or setoff against deposit account.
(a) Except as otherwise provided in (c) of this section, a bank with which a deposit account is maintained may exercise a right of recoupment or setoff against a secured party that holds a security interest in the deposit account.
(b) Except as otherwise provided in (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 setoff of the secured party as to a deposit account maintained with the secured party.
(c) 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 AS 45.29.104 (a)(3) if the setoff is based on a claim against the debtor.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 45.29.340
What does Alaska Statutes § 45.29.340 cover?
Section 45.29.340 ("Effectiveness of right of recoupment or setoff against deposit account.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 45.29.340?
A common citation format is "Alaska Statutes § 45.29.340" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 45.29.340 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.