(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 4-7-106, 4-9-104, 4-9-105, 4-9-106, or 4-9107.
A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights,or electronic documents is perfected by control under section 4-7-106, 4-9-104, 4-9-105, or 4-9107 when the secured party obtains control and remains perfected by control only while the secured party retains control.
A security interest in investment property is perfected by control under section 4-9106 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:
If the collateral is a certificated security, the debtor has or acquires possession of thesecurity certificate;
If the collateral is an uncertificated security, the issuer has registered or registers thedebtor as the registered owner; or
If the collateral is a security entitlement, the debtor is or becomes the entitlementholder.
Source: L. 2001: Entire article R&RE, p. 1352, § 1, effective July 1. L. 2006: (a) and (b) amended, p. 502, § 41, effective September 1.
Editor's note: This section is similar to former § 4-9-115 (4) as it existed prior to 2001.