24.44.140 Perfection by Control

(a) A security interest in investment property, deposit accounts, uncertificated certificates of deposit, letter-of-credit rights, electronic chattel paper, or electronic documents may be perfected by control of the collateral under section 24.3207, section 24,4204, Section 24.42.050, Section 24.42.060, or Section 24.42.070.

(b) A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights, electronic documents, or uncertificated certificates of deposit is perfected by control under section 24.3207, Section 24.42.040, Section 24.42.050, or Section 24.42.070 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 Section 24.42.060 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

If the collateral is a security entitlement, the debtor is or becomes the entitlement holder