(a) Perfection by control. A security interest in investment property, deposit accounts, letter-of-credit rights, electronic chattel paper, or electronic documents may be perfected by control of the collateral under Kan. Stat. Ann. 2023 Supp. 84-7-106, and amendments thereto, and Kan. Stat. Ann. 2023 Supp. 84-9-104, 84-9-105, 84-9-106, or 84-9-107, and amendments thereto.

(b) Specified collateral: Time of perfection by control; continuation of perfection. A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights, or electronic documents is perfected by control under Kan. Stat. Ann. 2023 Supp. 84-7-106, and amendments thereto, and Kan. Stat. Ann. 2023 Supp. 84-9-104, 84-9-105 or 84-9-107, and amendments thereto, when the secured party obtains control and remains perfected by control only while the secured party retains control.

Terms Used In Kansas Statutes 84-9-314

  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Property: includes personal and real property. See Kansas Statutes 77-201

(c) Investment property: Time of perfection by control; continuation of perfection. A security interest in investment property is perfected by control under Kan. Stat. Ann. 2023 Supp. 84-9-106, and amendments thereto, 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.