Browse Arkansas Code titles and sections
4-9-341. Bank's rights and duties with respect to deposit account.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-9-341. Bank's rights and duties with respect to deposit account.
Except as otherwise provided in § 4-9-340(c), and unless the bank otherwise agrees in an authenticated record, a bank's rights and duties with respect to a deposit account maintained with the bank are not terminated, suspended, or modified by:
(1) the creation, attachment, or perfection of a security interest in the deposit account;
(2) the bank's knowledge of the security interest; or
(3) the bank's receipt of instructions from the secured party.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-9-341
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:4-9-341
Source file: gov.ar.code.title.04.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 05ed12b2ca5420baf2d8b387976aeb03b08ac974aadac40e441ede78c13a4a9f
Source location: content.xml paragraph 10040
Stored source content
4-9-341. Bank's rights and duties with respect to deposit account.
Except as otherwise provided in § 4-9-340(c), and unless the bank otherwise agrees in an authenticated record, a bank's rights and duties with respect to a deposit account maintained with the bank are not terminated, suspended, or modified by:
(1) the creation, attachment, or perfection of a security interest in the deposit account;
(2) the bank's knowledge of the security interest; or
(3) the bank's receipt of instructions from the secured party.
Cross-references
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Arkansas Code — all titles (historical 2020) · legal_authorities
4-9-340. Effectiveness of right of recoupment or set-off against deposit account.
(a) Except as otherwise provided in subsection (c), 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.
(b) Except as otherwise provided in subsection (c), 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.
(c) 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 § 4-9-104(a)(3), if the set-off is based on a claim against the debtor.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-9-340
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 4-9-340. This identifies an authority to review, not proof of applicability.