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Ark. Code Ann. § 4-9-106

Control of investment property

Known as the Uniform Commercial Code

The act spans §§ 4–4 (597 sections).

Acts 2001, No. 1439, § 1.

(1) A person has control of a certificated security, uncertificated security, or security entitlement as provided in § 4-8-106.

(2) A secured party has control of a commodity contract if: the secured party is the commodity intermediary with which the commodity contract is carried; or

(3) 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.

(4) 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.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.