30-9A-314. Perfection by control.
30-9A-314. Perfection by control. (1) A security interest in investment property, a deposit account, a letter-of-credit right, or electronic chattel paper may be perfected by control of the collateral under 30-7-107, 30-9A-104, 30-9A-105, 30-9A-106, or 30-9A-107.
(2) A security interest in a deposit account, electronic chattel paper, a letter-of-credit right, or electronic document is perfected by control under 30-7-107, 30-9A-104, 30-9A-105, or 30-9A-107 when 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 from 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.
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.