Answer:
by Randy Carey:
Read your contracts and contact your legal counsel.
Answer:
by Ken Golliher:
What rlcarey said with sprinkles:
Any right of offset a bank may have is controlled by:
* state statute,
* state court decisions, and
* the wording of its contracts.
Be wary of anybody who answers a question about a right of set off who is not familiar with all three sources. It is highly unlikely he or she will be right.
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