South Carolina Statutes
§ 36-9-106 — Control of investment property.
(a)A person has control of a certificated security, uncertificated security, or security entitlement as provided in Section 36-8-106.
(b)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)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.
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South Carolina § 36-9-106 (Control of investment property.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 10.9-106; 1966 (54) 2716; 1988 Act No. 494, SECTION 5; 2001 Act No. 67, SECTION 12.
Nearby Sections
15
§ 36-9-101
Short title.§ 36-9-102
Definitions and index of definitions.§ 36-9-104
Control of deposit account.§ 36-9-106
Control of investment property.§ 36-9-107
Control of letter-of-credit right.§ 36-9-108
Sufficiency of description.§ 36-9-109
Scope.§ 36-9-111
UCC lien satisfaction.§ 36-9-202
Title to collateral immaterial.