                                 CODE OF VIRGINIA

CONTROL OF INVESTMENT PROPERTY (§ 8.9A-106)

a. Control under &#xA7; 8.8A-106. A person has control of a certificated
security, uncertificated security, or security entitlement as provided in &#xA7;
8.8A-106.

b. Control of commodity contract. 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. Effect of control of securities account or commodity account. 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.

HISTORY: 1996, c. 216, §§ 8.8-106, 8.9-115; 2000, c. 1007.