# ORS § 78.1060: 78.1060 Control > Oregon · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1060 ## Section - **Citation:** ORS § 78.1060 - **Heading:** 78.1060 Control - **Jurisdiction:** Oregon - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** OR Code / Title 8 / Chapter 78 / Section 78.1060 ## Text (1) A purchaser has control of a certificated security in bearer form if the certificated security is delivered to the purchaser. (2) A purchaser has control of a certificated security in registered form if the certificated security is delivered to the purchaser, and: (a) The certificate is indorsed to the purchaser or in blank by an effective indorsement; or (b) The certificate is registered in the name of the purchaser, upon original issue or registration of transfer by the issuer. (3) A purchaser has control of an uncertificated security if: (a) The uncertificated security is delivered to the purchaser; or (b) The issuer has agreed to comply with instructions originated by the purchaser without further consent by the registered owner. (4) A purchaser has control of a security entitlement if: (a) The purchaser becomes the entitlement holder; (b) The securities intermediary has agreed to comply with entitlement orders originated by the purchaser without further consent by the entitlement holder; or (c) Another person has control of the security entitlement on behalf of the purchaser or, having previously acquired control of the security entitlement, acknowledges that the person has control on behalf of the purchaser. (5) If an interest in a security entitlement is granted by the entitlement holder to the entitlement holder’s own securities intermediary, the securities intermediary has control. (6) A purchaser who has satisfied the requirements of subsection (3) or (4) of this section has control, even if the registered owner in the case of subsection (3) of this section, or the entitlement holder in the case of subsection (4) of this section, retains the right to make substitutions for the uncertificated security or security entitlement, to originate instructions or entitlement orders to the issuer or securities intermediary or otherwise to deal with the uncertificated security or security entitlement. (7) An issuer or a securities intermediary may not enter into an agreement of the kind described in subsection (3)(b) or (4)(b) of this section without the consent of the registered owner or entitlement holder, but an issuer or a securities intermediary is not required to enter into such an agreement even though the registered owner or entitlement holder so directs. An issuer or securities intermediary that has entered into such an agreement is not required to confirm the existence of the agreement to another party unless requested to do so by the registered owner or entitlement holder. [1961 c.726 § 78.1060 (Control) ; 1985 c.676 § 78.1060 (Control) ; 1995 c.328 §6; 2001 c.445 §152] Source: Section 78.1060 — Control , https://www.­oregonlegislature.­gov/bills_laws/ors/ors078.­html (accessed May 26, 2025). ## Nearby sections - [ORS § 78.1010 78.1010 Short title](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1010.md) - [ORS § 78.1020 78.1020 Definitions and index of definitions](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1020.md) - [ORS § 78.1030 78.1030 Rules for determining whether certain obligations and interests are securities or financial assets](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1030.md) - [ORS § 78.1040 78.1040 Acquisition of security or financial asset or interest therein](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1040.md) - [ORS § 78.1050 78.1050 Notice of adverse claim](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1050.md) - [ORS § 78.1060 78.1060 Control](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1060.md) - [ORS § 78.1070 78.1070 Whether indorsement, instruction or entitlement order is effective](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1070.md) - [ORS § 78.1080 78.1080 Warranties in direct holding](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1080.md) - [ORS § 78.1090 78.1090 Warranties in indirect holding](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1090.md) - [ORS § 78.1100 78.1100 Applicability](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1100.md) - [ORS § 78.1110 78.1110 Clearing corporation rules](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1110.md) - [ORS § 78.1120 78.1120 Creditor’s legal process](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1120.md) - [ORS § 78.1130 78.1130 Statute of frauds inapplicable](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1130.md) - [ORS § 78.1140 78.1140 Evidentiary rules concerning certificated securities](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1140.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1060. Check the current official text before relying on it. Not legal advice.