§ 26-1-9.1-314 — Perfection by control

Indiana § 26-1-9.1-314

• Jurisdiction: Indiana
• Title 26: COMMERCIAL LAW
• Art. 1: UNIFORM COMMERCIAL CODE
• Ch. 9.1: Secured Transactions

Text

(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.

Legislative History

As added by P.L.57-2000, SEC.45. Amended by P.L.143-2007, SEC.73; P.L.110-2022, SEC.5; P.L.199-2023, SEC.59.