Perfection by control.

1. Perfection by control. A security interest in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, electronic money, investment property, or letter-of-credit rights may be perfected by control of the collateral under section 554.7106 , 554.9104 , 554.9105A , 554.9106 , 554.9107 , or 554.9107A . 2. Specified collateral — time of perfection by control — continuation of perfection. A security interest in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, electronic money, or letter-of-credit rights is perfected by control under section 554.7106 , 554.9104 , 554.9105A , 554.9107 , or 554.9107A not earlier than the time the secured party obtains control and remains perfected by control only while the secured party retains control. 3. Investment property — time of perfection by control — continuation of perfection. A security interest in investment property is perfected by control under section 554.9106 not earlier than the time the secured party obtains control and remains perfected by control until: a. the secured party does not have control; and b. one of the following occurs: (1) if the collateral is a certificated security, the debtor has or acquires possession of the security certificate; (2) if the collateral is an uncertificated security, the issuer has registered or registers the debtor as the registered owner; or (3) if the collateral is a security entitlement, the debtor is or becomes the entitlement holder. 2000 Acts, ch 1149, §34, 185, 187 ; 2007 Acts, ch 30, §45, 46, 73 ; 2022 Acts, ch 1117, §29 ; 2024 Acts, ch 1023, §64 Referred to in §554.9308 , 554.9310 , 554.9312 , 554.9327 , 554.9328 , 554.9329