§12A-1-9-314. Perfection by control.
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/ok/title-12a-uniform-commercial-code/12a-1-9-314·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
PERFECTION BY CONTROL
(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 Section 7-106, 1-9-104, 1-9-106, 1-9-107, or 1-9-107A of this title.
(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 Section 1-9-104, 1-9-107, or 1-9-107A of this title 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 Section 1-9-106 of this title 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
if the collateral is a security entitlement, the
debtor is or becomes the entitlement holder. Added by Laws 2000, c. 371, § 34, eff. July 1, 2001. Amended by Laws 2005, c. 140, § 67, eff. Jan. 1, 2006; Laws 2024, c. 13, § 61, eff. Nov. 1, 2024.