Tex.
Bus. & Com. Code Section 9.314
Perfection by Control
(a)
A security interest in investment property, deposit accounts, letter-of-credit rights, virtual currencies, electronic chattel paper, or electronic documents may be perfected by control of the collateral under Section 7.106 (Control of Electronic Document of Title), 9.104 (Control of Deposit Account), 9.105 (Control of Electronic Chattel Paper), 9.106 (Control of Investment Property), 9.107 (Control of Letter-of-credit Right), or 9.1071 (Control of Virtual Currency).(b)
A security interest in deposit accounts, electronic chattel paper, virtual currencies, letter-of-credit rights, or electronic documents is perfected by control under Section 7.106 (Control of Electronic Document of Title), 9.104 (Control of Deposit Account), 9.105 (Control of Electronic Chattel Paper), 9.107 (Control of Letter-of-credit Right), or 9.1071 (Control of Virtual Currency) when the secured party obtains control and remains perfected by control only while the secured party retains control.(c)
A security interest in investment property is perfected by control under Section 9.106 (Control of Investment Property) from the time the secured party obtains control and remains perfected by control until:(1)
the secured party does not have control; and(2)
one of the following occurs:(A)
if the collateral is a certificated security, the debtor has or acquires possession of the security certificate;(B)
if the collateral is an uncertificated security, the issuer has registered or registers the debtor as the registered owner; or(C)
if the collateral is a security entitlement, the debtor is or becomes the entitlement holder.
Source:
Section 9.314 — Perfection by Control, https://statutes.capitol.texas.gov/Docs/BC/htm/BC.9.htm#9.314
(accessed Jun. 5, 2024).