Corpus

Perfection by control.

Miss. Code Ann. § 75-9-314
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
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 75-7-106, 75-9-104, 75-9-105, 75-9-106 or 75-9-107. A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights, or electronic documents is perfected by control under Section 75-7-106, 75-9-104, 75-9-105 or 75-9-107 when the secured party obtains control and remains perfected by control only while the secured party retains control. A security interest in investment property is perfected by control under Section 75-9-106 from the time the secured party obtains control and remains perfected by control until: The secured party does not have control; and One (1) of the following occurs: If the collateral is a certificated security, the debtor has or acquires possession of the security certificate; 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.