Sec. 9-107A. Control of controllable electronic record, controllable account, or controllable payment intangible.
75 words·~1 min read·
/il/chapter-810/act-5/9-107aA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 9-107A. Control of controllable electronic record, controllable account, or controllable payment intangible.
(a)Control under Section 12-105. A secured party has control of a controllable electronic record as provided in Section 12-105.
(b)Control of controllable account and controllable payment intangible. A secured party has control of a controllable account or controllable payment intangible if the secured party has control of the controllable electronic record that evidences the controllable account or controllable payment intangible.