28-9-106. CONTROL OF INVESTMENT PROPERTY. (a) A person has control of a certificated security, uncertificated security, or security entitlement as provided in section 28-8-106.
(b) A secured party has control of a commodity contract if:
(1) The secured party is the commodity intermediary with which the commodity contract is carried; or
(2) The commodity customer, secured party and commodity intermediary have agreed that the commodity intermediary will apply any value distributed on account of the commodity contract as directed by the secured party without further consent by the commodity customer.
(c) A secured party having control of all security entitlements or commodity contracts carried in a securities account or commodity account has control over the securities account or commodity account.
History:
[28-9-106, added 2001, ch. 208, sec. 2, p. 719.]
Structure Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 9 - SECURED TRANSACTIONS
Section 28-9-101 - SHORT TITLE.
Section 28-9-102 - DEFINITIONS AND INDEX OF DEFINITIONS.
Section 28-9-104 - CONTROL OF DEPOSIT ACCOUNT.
Section 28-9-105 - CONTROL OF ELECTRONIC CHATTEL PAPER.
Section 28-9-106 - CONTROL OF INVESTMENT PROPERTY.
Section 28-9-107 - CONTROL OF LETTER OF CREDIT RIGHT.
Section 28-9-108 - SUFFICIENCY OF DESCRIPTION.
Section 28-9-110 - SECURITY INTERESTS ARISING UNDER CHAPTER 2 OR 12, TITLE 28, IDAHO CODE.