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 Section 36-7-106, 36-9-104, 36-9-105, 36-9-106, or 36-9-107.
2. (b) A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights, or electronic documents is perfected by control under Section 36-7-106, 36-9-104, 36-9-105, or 36-9-107 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 Section 36-9-106 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.

HISTORY: 1962 Code Section 10.9-314; 1966 (54) 2716; 1988 Act No. 494, Section 5; 2001 Act No; 67, Section 12; 2014 Act No. 213 (S.343), Section 42, eff October 1, 2014. "Certificated security" Section 36-8-102(a)(4) "Deposit account" Section 36-9-102(a)(29) "Electronic chattel paper" Section 36-9-102(a)(31) "Entitlement holder" Section 36-8-102(a)(7) "Investment property" Section 36-9-102(a)(49) "Letter-of-credit right" Section 36-9-102(a)(51) "Security certificate" Section 36-8-102(a)(16) "Security entitlement" Section 36-8-102(a)(17) "Uncertificated security" Section 36-8-102(a)(18)