§ 30-9A-314 — Perfection By Control

30-9A-314 . Perfection by control. (1) 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 30-7-107 , 30-9A-104 , 30-9A-106 , 30-9A-107 , or 30-9A-107A .
(2) 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 30-7-107 , 30-9A-104 , 30-9A-105 , 30-9A-107 , or 30-9A-107A not earlier than the time the secured party obtains control and remains perfected by control only while the secured party retains control.
(3) A security interest in investment property is perfected by control under 30-9A-106 not earlier than the time the secured party obtains control and remains perfected by control until:
(a) the secured party does not have control; and
(b) one of the following occurs:
(i) if the collateral is a certificated security, the debtor has or acquires possession of the security certificate;
(ii) if the collateral is an uncertificated security, the issuer has registered or registers the debtor as the registered owner; or
(iii) if the collateral is a security entitlement, the debtor is or becomes the entitlement holder.

Legislative History

En. Sec. 33, Ch. 305, L. 1999; Sec. 30-9-334, MCA 1999; redes. 30-9A-314 by Code Commissioner, 2001; amd. Sec. 82, Ch. 575, L. 2005; amd. Sec. 64, Ch. 200, L. 2025.