Current with legislation from 2024 Fiscal and Special Sessions.
Section 4-9-314 - Perfection by control(a) A security interest in investment property, deposit accounts, letter-of-credit rights, virtual currencies, electronic chattel paper, or electronic documents may be perfected by control of the collateral under § 4-7-106, § 4-9-104, § 4-9-105, § 4-9-106, or § 4-9-107.(b) A security interest in deposit accounts, electronic chattel paper, virtual currencies, letter-of-credit rights, or electronic documents is perfected by control under § 4-7-106, § 4-9-104, § 4-9-105, § 4-9-106, or § 4-9-107 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 § 4-9-106 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.Amended by Act 2021, No. 1078,§ 5, eff. 7/28/2021.Acts 2001, No. 1439, § 1; 2007, No. 342, § 35.