14-6227. Financial institutions; right to setoff against account
79 words·~1 min read·
/az/title-14/14-6227A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Without qualifying any other statutory right to setoff or lien and subject to any contractual provision, if a party is indebted to a financial institution the financial institution has a right to a setoff against the account. The amount of the account subject to a setoff is the proportion to which the party is, or immediately before death was, beneficially entitled under section 14-6211 or, in the absence of proof of that proportion, an equal share with all parties.