N.Y. UCC Law § 9-106
This is the official text of N.Y. UCC Law § 9-106, part of New York’s UCC Law — part of the compiled statutory law of New York, published by the state as "UCC Law." Browse the sections below, each linked to its official government source.
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Control of Investment Property
Official statutory text
Section 9--106. Control of Investment Property.\n (a) Control under Section 8--106. A person has control of a\ncertificated security, uncertificated security, or security entitlement\nas provided in Section 8--106.\n (b) Control of commodity contract. A secured party has control of a\ncommodity contract if:\n (1) the secured party is the commodity intermediary with which\n the commodity contract is carried; or\n (2) the commodity customer, secured party, and commodity\n intermediary have agreed that the commodity intermediary will\n apply any value distributed on account of the commodity\n contract as directed by the secured party without further\n consent by the commodity customer.\n (c) Effect of control of securities account or commodity account. A\nsecured party having control of all security entitlements or commodity\ncontracts carried in a securities account or commodity account has\ncontrol over the securities account or commodity account.\n
Status: in_force · Read it on the official government site
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