1. Perfection by control. A security interest in investment property, deposit accounts, letter-of-credit rights, or electronic chattel paper may be perfected by control of the collateral under section 554.9104, 554.9105, 554.9106, or 554.9107.
2. Specified collateral--time of perfection by control--continuation of perfection. A security interest in deposit accounts, electronic chattel paper, or letter-of-credit rights is perfected by control under section 554.9104, 554.9105, or 554.9107 when the secured party obtains control and remains perfected by control only while the secured party retains control.
3. Investment property--time of perfection by control--continuation of perfection. A security interest in investment property is perfected by control under section 554.9106 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:
(1) if the collateral is a certificated security, the debtor has or acquires possession of the security certificate;
(2) if the collateral is an uncertificated security, the issuer has registered or registers the debtor as the registered owner; or
(3) if the collateral is a security entitlement, the debtor is or becomes the entitlement holder.
2000 Acts, ch 1149, §34, 185, 187
Referred to in § 554.9308, 554.9310, 554.9312, 554.9327, 554.9328, 554.9329
Effective July 1, 2001; 2000 Acts, ch 1149, §187; former section repealed effective July 1, 2001; 2000 Acts, ch 1149, §185, 187; for law prior to July 1, 2001, see Code 2001
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