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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>85234</law_id><section_number>8.9A-314</section_number><catch_line>Perfection by control</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>8.9A-310</reference><reference>8.9A-312</reference><reference>8.9A-327</reference><reference>8.9A-328</reference><reference>8.9A-329</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="8.9A">Commercial Code &#x2014; Secured Transactions</unit><unit label="part" level="2" order_by="1" identifier="3">Perfection and Priority</unit><unit label="subpart" level="3" order_by="1" identifier="2">Perfection</unit></structure><text>
						<section id="a"><p><span class="prefix-number">a.</span> Perfection by control. A security interest in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, electronic money, investment property, or letter-of-credit rights may be perfected by control of the <span class="dictionary">collateral</span> under &#xA7; <a class="law" title="Control of electronic document" href="/8.7-106/">8.7-106</a>, <a class="law" title="Control of deposit account" href="/8.9A-104/">8.9A-104</a>, <a class="law" title="Control of electronic money" href="/8.9A-105.1/">8.9A-105.1</a>, <a class="law" title="Control of investment property" href="/8.9A-106/">8.9A-106</a>, <a class="law" title="Control of letter-of-credit right" href="/8.9A-107/">8.9A-107</a>, or <a class="law" title="Control of controllable electronic record, controllable account, or controllable payment intangible" href="/8.9A-107.1/">8.9A-107.1</a>. <a id="paragraph-305467" class="section-permalink" href="https://vacode.org/8.9A-314/#a"><i class="fa fa-link"/></a></p></section>
						<section id="b"><p><span class="prefix-number">b.</span> Specified <span class="dictionary">collateral</span>; time of perfection by control; continuation of perfection. A security interest in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, electronic money, investment property, or letter-of-credit rights is perfected by control under &#xA7; <a class="law" title="Control of electronic document" href="/8.7-106/">8.7-106</a>, <a class="law" title="Control of deposit account" href="/8.9A-104/">8.9A-104</a>, <a class="law" title="Control of electronic money" href="/8.9A-105.1/">8.9A-105.1</a>, <a class="law" title="Control of investment property" href="/8.9A-106/">8.9A-106</a>, <a class="law" title="Control of letter-of-credit right" href="/8.9A-107/">8.9A-107</a>, or <a class="law" title="Control of controllable electronic record, controllable account, or controllable payment intangible" href="/8.9A-107.1/">8.9A-107.1</a> not earlier than the time the secured <span class="dictionary">party</span> obtains control and remains perfected by control only while the secured <span class="dictionary">party</span> retains control. <a id="paragraph-305468" class="section-permalink" href="https://vacode.org/8.9A-314/#b"><i class="fa fa-link"/></a></p></section>
						<section id="c"><p><span class="prefix-number">c.</span> Investment property; time of perfection by control; continuation of perfection. A security interest in investment property is perfected by control under &#xA7;&#xA0;<a class="law" title="Control of investment property" href="/8.9A-106/">8.9A-106</a> not earlier than the time the secured <span class="dictionary">party</span> obtains control and remains perfected by control until: <a id="paragraph-305469" class="section-permalink" href="https://vacode.org/8.9A-314/#c"><i class="fa fa-link"/></a></p></section>
						<section id="c1" class="indent-1"><p><span class="prefix-number">1.</span> the secured <span class="dictionary">party</span> does not have control; and <a id="paragraph-305470" class="section-permalink" href="https://vacode.org/8.9A-314/#c1"><i class="fa fa-link"/></a></p></section>
						<section id="c2" class="indent-1"><p><span class="prefix-number">2.</span> one of the following occurs: <a id="paragraph-305471" class="section-permalink" href="https://vacode.org/8.9A-314/#c2"><i class="fa fa-link"/></a></p></section>
						<section id="A"><p><span class="prefix-number">A.</span> if the <span class="dictionary">collateral</span> is a certificated security, the debtor has or acquires <span class="dictionary">possession</span> of the security certificate; <a id="paragraph-305472" class="section-permalink" href="https://vacode.org/8.9A-314/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> if the <span class="dictionary">collateral</span> is an uncertificated security, the issuer has registered or registers the debtor as the registered owner; or <a id="paragraph-305473" class="section-permalink" href="https://vacode.org/8.9A-314/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> if the <span class="dictionary">collateral</span> is a security entitlement, the debtor is or becomes the entitlement holder. <a id="paragraph-305474" class="section-permalink" href="https://vacode.org/8.9A-314/#C"><i class="fa fa-link"/></a></p></section></text><history>1996, c. 216, &#xA7; 8.9-115; 2000, c. 1007; 2004, c. 200; 2024, c. 652.</history><metadata></metadata></law>
