Perfection by control

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  1. (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 § 4-7-106, § 4-9-104, § 4-9-105, § 4-9-106, or § 4-9-107.

  2. (b) A security interest in deposit accounts, electronic chattel paper, 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.

  3. (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. (1) the secured party does not have control; and

    2. (2) one of the following occurs:

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

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

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


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