Home Table of Contents

§ 9314. Perfection by control

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 13 Pa.C.S.A. Commercial CodeEffective: June 16, 2008

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 13 Pa.C.S.A. Commercial Code (Refs & Annos)
Division 9. Secured Transactions (Refs & Annos)
Chapter 93. Perfection and Priority
Subchapter B. Perfection
Effective: June 16, 2008
13 Pa.C.S.A. § 9314
§ 9314. Perfection by control
Currentness
(a) Perfection by control.--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 section 7106 (relating to control of electronic document of title), 9104 (relating to control of deposit account), 9105 (relating to control of electronic chattel paper), 9106 (relating to control of investment property) or 9107 (relating to control of letter-of-credit right).
(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 electronic documents is perfected by control under section 7106, 9104, 9105 or 9107 when the secured party obtains control and remains perfected by control only while the secured party retains control.
(c) Investment property: time of perfection by control; continuation of perfection.--A security interest in investment property is perfected by control under section 9106 from the time the secured party obtains control and remains perfected by control until both of the following paragraphs apply:
(1) The secured party does not have control.
(2) 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.
(iii) If the collateral is a security entitlement, the debtor is or becomes the entitlement holder.

Credits

2001, June 8, P.L. 123, No. 18, § 16, effective July 1, 2001. Amended 2008, April 16, P.L. 57, No. 13, § 21, effective in 60 days [June 16, 2008].
13 Pa.C.S.A. § 9314, PA ST 13 Pa.C.S.A. § 9314
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document