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4-9-106. Control Of Investment Property.

(a) A person has control of a certificated security, uncertificated security, or security entitlement as provided in § 4-8-106.

(b) 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) 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

Acts 2001, No. 1439, § 1.

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Local Government
Arkansas
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Asa Hutchinson
Asa Hutchinson
January 13, 2015 -
Republican
501-682-5080
425 W Capitol Ave. Suite 1620, Little Rock, AR, 72201

Keywords
commodity
secured
contract
control
party
account
intermediary
commercial
carried
customer