Iowa Code § 554.9106
Control of investment property
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2013
As of January 1, 2012
1. Control under section 554.8106. A person has control of a certificated security, uncertificated security, or security entitlement as provided in section 554.8106.
1. Control under section 554.8106. A person has control of a certificated security, uncertificated security, or security entitlement as provided in section 554.8106.
2. Control of commodity contract. A secured party has control of a commodity contract if:
2. Control of commodity contract. A secured party has control of a commodity contract if:
a. the secured party is the commodity intermediary with which the commodity contract is carried; or
a. the secured party is the commodity intermediary with which the commodity contract is carried; or
b. 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.
b. 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.
3. 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.
3. 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.
Referred to in
Effective July 1, 2001; 2000 Acts, ch 1149, §187; former section repealed effective July 1, 2001; 2000 Acts, ch 1149, §185, 187; for law prior to July 1, 2001, see Code 2001
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.