2264

(a) Perfection by control.— A security interest in investment property, deposit accounts, letter-of-credit rights, or electronic chattel paper or a life insurance policy may be perfected by control of the collateral under § 2214, 2215, 2216, 2217 or 2217a of this title.\n(b) Specified collateral: time of perfection by control; continuation of perfection.— A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights or a life insurance policy is perfected by control under § 2214, 2215, 2216, 2217 or 2217a of this title when the secured party obtains control and remains perfected by control only while the secured party retains control.\n(c) Investment property: time of perfection by control; continuation of perfection.— A security interest in investment property is perfected by control under § 2216 of this title from the time the secured party obtains control and remains perfected by control until:\n(1) The secured party does not have control, and\n(2) one of the following occurs:\n(A) If the collateral is a certificated security, the debtor has or acquires possession of the security certificate;\n(B) if the collateral is an uncertificated security, the

f the following occurs:\n(A) If the collateral is a certificated security, the debtor has or acquires possession of the security certificate;\n(B) if the collateral is an uncertificated security, the issuer has registered or registers the debtor as the registered owner, or\n(C) if the collateral is a security entitlement, the debtor is or becomes the entitlement holder.\nHistory\n—Sept. 19, 1996, No. 241, added as § 9-314 on Jan. 17, 2012, No. 21, § 11, eff. 1 year after Jan. 17, 2012.