Florida § 679.340 - Effectiveness of right of recoupment or set-off against deposit account.
Full text of Florida Florida Statutes § 679.340 — Effectiveness of right of recoupment or set-off against deposit account., with citation guidance and answers to common questions.
§ 679.340. Effectiveness of right of recoupment or set-off against deposit account.
(1) Except as otherwise provided in subsection (3), 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. (2) Except as otherwise provided in subsection (3), 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. (3) 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 which is perfected by control under s. 679.1041(1)(c), if the set-off is based on a claim against the debtor.
Source: official Florida text · Last verified 2026-08-27
Frequently Asked Questions About Florida § 679.340
What does Florida Statutes § 679.340 cover?
Section 679.340 ("Effectiveness of right of recoupment or set-off against deposit account.") is part of the Florida Statutes, the codified statutory law of Florida. 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 Florida § 679.340?
A common citation format is "Florida Statutes § 679.340" (Florida). 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 Florida law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Florida official source linked on this page or consult a licensed Florida attorney.
How does Florida § 679.340 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Florida 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 Florida.