PERFECTION BY CONTROL
(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 Section 7-106, 1-9-104, 1-9-105, 1-9-106, or 1-9-107 of this title.
(b) A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights, or electronic documents is perfected by control under Section 1-9-104, 1-9-105, or 1-9-107 of this title 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 Section 1-9-106 of this title 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.
Added by Laws 2000, c. 371, § 34, eff. July 1, 2001. Amended by Laws 2005, c. 140, § 67, eff. Jan. 1, 2006.
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