810 ILCS 5/9-340

(810 ILCS 5/9-340)

Sec. 9-340.

Effectiveness of right of recoupment or set-off against
deposit account.

(a) Exercise of recoupment or set-off.  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) Recoupment or set-off 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
set-off
of the secured party as to a deposit account maintained with the secured party.

(c) When set-off ineffective.  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 Section
9-104(a)(3), if the set-off is based on a claim against the debtor.

(Source: P.A. 91-893, eff. 7-1-01.)