Current with changes through 2024
Section 9-314 - Perfection by control(a) 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 section 7-106, 9-104, 9-105, 9-105A, 9-106, 9-107, or 9-107A.(b) 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 section 7-106, 9-104, 9-105, 9-105A, 9-107, or 9-107A not earlier than the time 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 9-106 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.Laws 1999, LB 550, § 107; Laws 2005, LB 570, § 109; Laws 2021, LB 649, § 55; Laws 2024, LB 94, § 63.Amended by Laws 2024, LB 94,§ 63, eff. 7/19/2024.Amended by Laws 2021, LB 649,§ 55, eff. 8/28/2021, op. 7/1/2022.