# Idaho Code § 28-5306: 28-5306 PERFECTION BY POSSESSION OR CONTROL

> Idaho · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C53_S28-5306

## Section

- **Citation:** Idaho Code § 28-5306
- **Heading:** 28-5306 PERFECTION BY POSSESSION OR CONTROL
- **Jurisdiction:** Idaho
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Idaho Code / Title 28 / Chapter 53 / Section 28-5306

## Text

28-5306. perfection by possession or control. (1) Perfection by possession creates a possessory security interest under section 28-9-301, Idaho Code.

(2) A security interest held by a secured party having possession or control has priority over a security interest held by a secured party that does not have possession or control, as applicable. Other provisions of law relating to perfection and priority of security interests, including section 28-9-207, Idaho Code, and priority of control over delivery, shall apply, except that section 28-9-322(a)(1) and (b), Idaho Code, shall not apply.

(3) A person that acquires an interest in and obtains control of a virtual currency without notice of any adverse claim takes the interest in the virtual currency and in any right to payment evidenced by the virtual currency free of any adverse claim.

History:

[28-5306, added 2022, ch. 284, sec. 1, p. 903.]

## Nearby sections

- [Idaho Code § 28-5301 28-5301 SHORT TITLE.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C53_S28-5301.md)
- [Idaho Code § 28-5302 28-5302 SCOPE.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C53_S28-5302.md)
- [Idaho Code § 28-5303 28-5303 DEFINITIONS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C53_S28-5303.md)
- [Idaho Code § 28-5304 28-5304 CLASSIFICATION OF DIGITAL ASSETS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C53_S28-5304.md)
- [Idaho Code § 28-5305 28-5305 PURCHASE AND SALE.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C53_S28-5305.md)
- [Idaho Code § 28-5306 28-5306 PERFECTION BY POSSESSION OR CONTROL.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C53_S28-5306.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C53_S28-5306. Check the current official text before relying on it. Not legal advice.