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K.S.A. 84-9-314

Perfection by control

L. 2000, ch. 142, § 34; L. 2007, ch. 90, § 74; July 1, 2008.

(a) Perfection by control. A security interest in investment property, deposit accounts, letter-of-credit rights, electronic chattel paper, or electronic documents may be perfected by control of the collateral under K.S.A. 2025 Supp. 84-7-106 , and amendments thereto, and K.S.A. 2025 Supp. 84-9-104 , 84-9-105 , 84-9-106 , or 84-9-107 , and amendments thereto.

(b) Specified collateral: Time of perfection by control; continuation of perfection. A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights, or electronic documents is perfected by control under K.S.A. 2025 Supp. 84-7-106 , and amendments thereto, and K.S.A. 2025 Supp. 84-9-104 , 84-9-105 or 84-9-107 , and amendments thereto, when the secured party obtains control and remains perfected by control only while the secured party retains control.

(c) Investment property: Time of perfection by control; continuation of perfection. A security interest in investment property is perfected by control under K.S.A. 2025 Supp. 84-9-106 , and amendments thereto, 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.

Official source: Kansas Office of Revisor of Statutes. Reproduced from public-domain Kansas statutes; confirm against the official source for the current text. Not legal advice.