57A-9-314. Perfection by control of collateral.
(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 §57A-9-104, 57A-9-105, 57A-9-106, 57A-9-107, or 57A-7-106.
(b) A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights, or electronic documents is perfected by control under §57A-9-104, 57A-9-105, 57A-9-107, or 57A-7-206 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 §57A-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.
Source: SL 2000, ch 231; SL 2009, ch 254, §833.