§ 34.1-9-314 — Perfection by control

(a) A security interest in investment property, deposit
accounts, letter-of-credit rights, electronic chattel paper or
electronic documents may be perfected by control of the
collateral under section 34.1-7-106, 34.1-9-104, 34.1-9-105,
34.1-9-106 or 34.1-9-107.
(b) A security interest in deposit accounts, electronic
chattel paper, letter-of-credit rights or electronic documents
is perfected by control under section 34.1-7-106, 34.1-9-104,
34.1-9-105 or 34.1-9-107 when 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 section 34.1-9-106 from the time the
secured party obtains control and remains perfected by control
until:
(i) The secured party does not have control; and
(ii) One (1) 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.