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A.R.S. § 47-9106

Control of investment property

Applied in 2 court decisions — leading case In Re Sanner Contracting Co. (1995)

Most recently applied in In Re Sanner Contracting Co. (May 1995)

A. A person has control of a certificated security, uncertificated security or security entitlement as provided in section 47-8106.

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.

Official source: Arizona State Legislature. Reproduced from public-domain Arizona statutes; confirm against the official source for the current text. Not legal advice.