11-9-314. Perfection by control.
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/ga/title-11-commercial-code/subpart-2-perfection/11-9-314·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Perfection by control. 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 Code Section 11-7-106, 11-9-104, 11-9-105, 11-9-106, or 11-9-107.
Specified collateral; time of perfection by control; continuation of perfection. A security interest in deposit accounts, electronic chattel paper, letter of credit rights, or electronic documents is perfected by control under Code Section 11-7-106, 11-9-104, 11-9-105, or 11-9-107 when the secured party obtains control and remains perfected by control only while the secured party retains control.
Investment property; time of perfection by control; continuation of perfection. A security interest in investment property is perfected by control under Code Section 11-9-106 from the time the secured party obtains control and remains perfected by control until:
The secured party does not have control; and
One of the following occurs:
If the collateral is a certificated security, the debtor has or acquires possession of the security certificate;
If the collateral is an uncertificated security, the issuer has registered or registers the debtor as the registered owner; or
If the collateral is a security entitlement, the debtor is or becomes the entitlement holder.