554.9314  Perfection by control.
  1.  Perfection by control.  A security interest in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic chattel paper, electronic documents, electronic money, investment property, or letter-of-credit rights may be perfected by control of the collateral under section 554.7106, 554.9104, 554.9105, 554.9105A, 554.9106, 554.9107, or 554.9107A.
  2.  Specified collateral — time of perfection by control — continuation of perfection.  A security interest in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic chattel paper, electronic documents, electronic money, or letter-of-credit rights is perfected by control under section 554.7106, 554.9104, 554.9105, 554.9105A, 554.9107, or 554.9107A 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; 2007 Acts, ch 30, §45, 46, 73; 2022 Acts, ch 1117, §29
Referred to in §554.9308, 554.9310, 554.9312, 554.9327, 554.9328, 554.9329
Subsections 1 and 2 amended