Skip to navigation Skip to content Skip to subnav
Searching 2021-2022 Session

The Vermont Statutes Online

 

Title 9A : Uniform Commercial Code

Article 009 : SECURED TRANSACTIONS

(Cite as: 9A V.S.A. § 9-314)
  • § 9-314. Perfection by control

    (a) 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 7- 106, 9- 104, 9- 105, 9- 106, or 9- 107 of this title.

    (b) A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights, or electronic documents is perfected by control under section 7- 106, 9- 104, 9- 105, or 9- 107 of this title when 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 section 9- 106 of this title from 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. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001; amended 2015, No. 51, § B.9, eff. June 3, 2015.)