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§ 9-314. Perfection by control

MD Comm L Code § 9-314 (2019) (N/A)
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(a)    A security interest in investment property, deposit accounts, letter-of-credit rights, electronic chattel paper, or electronic documents may be perfected by control of the collateral under § 7-106, § 9-104, § 9-105, § 9-106, or § 9-107.

(b)    A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights, or electronic documents is perfected by control under § 7-106, § 9-104, § 9-105, or § 9-107 when the secured party obtains control and remains perfected by control only while the secured party retains control.

(c)    A security interest in investment property is perfected by control under § 9-106 from the time the secured party obtains control and remains perfected by control until:

(1)    The secured party does not have control; and

(2)    One of the following occurs:

(A)    If the collateral is a certificated security, the debtor has or acquires possession of the security certificate;

(B)    If the collateral is an uncertificated security, the issuer has registered or registers the debtor as the registered owner; or

(C)    If the collateral is a security entitlement, the debtor is or becomes the entitlement holder.

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