IC 26-1-9.1-314 — Perfection by control
Chapter 9.1. Secured Transactions
Section text
Sec. 314. (a) A security interest in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, investment property, or letter-of-credit rights may be perfected by control of the collateral under IC 26-1-7-106, IC 26-1-9.1-104, IC 26-1-9.1-106, IC 26-1-9.1-107, or IC 26-1-9.1-107.1, as applicable. (b) A security interest in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, or letter-of-credit rights is perfected by control under IC 26-1-7-106, IC 26-1-9.1-104, IC 26-1-9.1-107, or IC 26-1-9.1-107.1, not earlier than the time 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 IC 26-1-9.1-106 not earlier than 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.
As added by P.L.57-2000, SEC.45. Amended by P.L.143-2007, SEC.73; P.L.110-2022, SEC.5; P.L.199-2023, SEC.59.
Source: official publisher (2026 edition)