Legislation

Section 9--106. Control of Investment Property.

(a) Control under Section 8--106. A person has control of a
certificated security, uncertificated security, or security entitlement
as provided in Section 8--106.

(b) Control of commodity contract. 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) Effect of control of securities account or commodity account. 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.