Section 9--104. 9--105, or 9--107 when the secured party obtains control and remains perfected by control only while the secured party retains control  


Latest version.
  • (c) Investment  property:  time of perfection by control; continuation
      of perfection. A security interest in investment property  is  perfected
      by  control under Section 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.
        (d) Cooperative interests. Subsections (a) through (c) do not apply to
      cooperative interests.