Control of investment property

CONTROL OF INVESTMENT PROPERTY

(a) A person has control of a certificated security,

uncertificated security, or security entitlement as provided in

Section 8-106 of this title.

(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.