(a) A person has control of a certificated security, uncertificated security, or security entitlement as provided in § 8-106 of this article.
(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.
Structure Maryland Statutes
Title 9 - Secured Transactions
Subtitle 1 - General Provisions
Section 9-102 - Definitions and Index of Definitions
Section 9-103 - Purchase-Money Security Interest; Application of Payments; Burden of Establishing
Section 9-104 - Control of Deposit Account
Section 9-105 - Control of Electronic Chattel Paper
Section 9-106 - Control of Investment Property
Section 9-107 - Control of Letter-of-Credit Right
Section 9-108 - Sufficiency of Description
Section 9-110 - Security Interests Arising Under Title 2 or 2a