Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 9. · Article 9. SECURED TRANSACTIONS · Part 1. GENERAL PROVISIONS

11-9-106. Control of investment property.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

(a)
Control under Code Section 11-8-106. A person has control of a certificated security, uncertificated security, or security entitlement as provided in Code Section 11-8-106.#
(b)
Control of commodity contract. A secured party has control of a commodity contract if:#
1. (1)
  The secured party is the commodity intermediary with which the commodity contract is carried; or#
2. (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.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

Code 1981, § 11-9-106, enacted by Ga. L. 2001, p. 362, § 1.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-2022-pdf.pdf, Volume V9, 2022 edition, page 739; merge action: carried; file SHA-256 ad397fccbf21.