Alabama § 7-9A-106 Control of Investment Property

Alabama Statutes

§ 7-9A-106 — Control of Investment Property

Alabama § 7-9A-106

Title 7Commercial Code

Art. 9ASecured Transactions

Div. 1Short Title, Definitions, and General Concepts

This text of Alabama § 7-9A-106 (Control of Investment Property) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 7-9A-106 (2026).

Text

(a)Control under Section 7-8-106. A person has control of a certificated security, uncertificated security, or security entitlement as provided in Section 7-8-106.

(b)Control of commodity contract. A secured party has control of a commodity contract if:

(1)the secured party is the commodity intermediary with which the commodity contract is carried; or

(2)the commodity customer, secured party, and commodity intermediary have agreed that the commodity intermediary will apply any value distributed on account of the commodity contract as directed by the secured party without further consent by the commodity customer.

(c)Effect of control of securities account or commodity account. A secured party having control of all security entitlements or commodity contracts carried in a securities ac

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(a) Control under Section 7-8-106. A person has control of a certificated security, uncertificated security, or security entitlement as provided in Section 7-8-106.
(b) Control of commodity contract. A secured party has control of a commodity contract if:
(1) the secured party is the commodity intermediary with which the commodity contract is carried; or
(2) the commodity customer, secured party, and commodity intermediary have agreed that the commodity intermediary will apply any value distributed on account of the commodity contract as directed by the secured party without further consent by the commodity customer.
(c) Effect of control of securities account or commodity account. A secured party having control of all security entitlements or commodity contracts carried in a securities account or commodity account has control over the securities account or commodity account.