Section 45.29.314. Perfection by control.

   (a) A security interest in deposit accounts, electronic chattel paper, investment property, letter-of-credit rights, or electronic documents may be perfected by control of the collateral under AS 45.07.116, AS 45.29.104, 45.29.105, 45.29.106, or 45.29.107.
   (b) A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights, or electronic documents is perfected by control under AS 45.07.116, AS 45.29.104, 45.29.105, or 45.29.107 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 AS 45.29.106 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.

Authorities

45.29.310;45.29.312;45.29.327;45.29.328;45.29.329

Notes

References

AS 45.29.310 When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply.
AS 45.29.312 Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money; perfection by permissive filing; temporary perfection without filing or transfer of possession.
AS 45.29.327 Priority of security interests in deposit account.
AS 45.29.328 Priority of security interests in investment property.
AS 45.29.329 Priority of security interests in letter-of-credit right.

History

(Sec. 1 ch 113 SLA 2000; am Sec. 60 ch 41 SLA 2009; am Sec. 105, 106 ch 44 SLA 2009)