West Virginia Statutes
§ 46-9-106 — Control of investment property
West Virginia·Ch. 46 UNIFORM COMMERCIAL CODE·Art. 9 SECURED TRANSACTIONS; SALES OF ACCOUNTS AND CHATTEL PAPER
(a)Control under section 8-106. A person has control of a certificated security, uncertificated security, or security entitlement as provided in section 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 acc
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Legislative History
2000 Reg. Sess., SB469; 1996 Reg. Sess., HB4669; 1995 Reg. Sess., SB441; 1974 Reg. Sess., SB60
Nearby Sections
15
§ 46-1-101
Short titles§ 46-1-102
Scope of article§ 46-1-104
Construction against implied repeal§ 46-1-105
Severability§ 46-1-106
Use of singular and plural; gender§ 46-1-107
Section captions§ 46-1-109
Repealed. Acts, 2006 Reg. Sess., Ch. 247§ 46-1-201
General definitions§ 46-1-202
Notice; knowledge§ 46-1-204
Value§ 46-1-205
Reasonable time; seasonableness§ 46-1-206
Presumptions