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Indiana Code Title 26. Commercial Law § 26-1-9.1-314

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 314. (a) A security interest in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, investment property, or letter-of-credit rights may be perfected by control of the collateral under IC 26-1-7-106, IC 26-1-9.1-104, IC 26-1-9.1-106, IC 26-1-9.1-107, or IC 26-1-9.1-107.1, as applicable.

(b) A security interest in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, or letter-of-credit rights is perfected by control under IC 26-1-7-106, IC 26-1-9.1-104, IC 26-1-9.1-107, or IC 26-1-9.1-107.1, not earlier than the time 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 IC 26-1-9.1-106 not earlier than 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.

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Cite this article: FindLaw.com - Indiana Code Title 26. Commercial Law § 26-1-9.1-314 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-26-commercial-law/in-code-sect-26-1-9-1-314/

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