Section 9-314 - Perfection by control. - Maryland Statutes

§ 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 § 7-106, § 9-104, § 9-105, § 9-106, or § 9-107. 

(b)  A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights, or electronic documents is perfected by control under § 7-106, § 9-104, § 9-105, or § 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 § 9-106 from the time the secured party obtains control and remains perfected by control until: 

(1) The secured party does not have control; and 

(2) One 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. 
 

[1999, ch. 282, § 2; 2004, ch. 95, § 2.]