Section 62A.9A-314 - Perfection by control(a)Perfection by control. A security interest in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, electronic money, investment property, or letter-of-credit rights may be perfected by control of the collateral under RCW 62A.7-106, 62A.9A-104, 62A.9A-106, 62A.9A-107, 62A.9A-1051, or 62A.9A-1071.(b)Specified collateral: Time of perfection by control; continuation of perfection. A security interest in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, electronic money, or letter-of-credit rights is perfected by control under RCW 62A.7-106, 62A.9A-104, 62A.9A-107, 62A.9A-1051, or 62A.9A-1071 not earlier than the time when the secured party obtains control and remains perfected by control only while the secured party retains control.(c)Investment property: Time of perfection by control; continuation of perfection. A security interest in investment property is perfected by control under RCW 62A.9A-106 not earlier than 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 2023 c 266,§ 921, eff. 1/1/2024. 2012 c 214 § 1512; 2000 c 250 § 9A-314.Construction-Effective date- 2023 c 266: See notes following RCW 62A.12-101.
Application-Savings- 2012 c 214: See notes following RCW 62A.1-101.