Nevada Revised Statutes 104.9314 – Perfection by control
1. A security interest in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, investment property or letter-of-credit rights may be perfected by control of the collateral under NRS 104.7106, 104.9104, 104.9106, 104.9107 or 104.910701.
Terms Used In Nevada Revised Statutes 104.9314
- 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.
2. A security interest in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents or letter-of-credit rights is perfected by control under NRS 104.7106, 104.9104, 104.9107 or 104.910701 not earlier than the time the secured party obtains control and remains perfected by control only while the secured party retains control.
3. A security interest in investment property is perfected by control under NRS 104.9106 not earlier than the time the secured party obtains control and remains perfected by control until:
(a) The secured party does not have control; and
(b) One of the following occurs:
(1) If the collateral is a certificated security, the debtor has or acquires possession of the security certificate;
(2) If the collateral is an uncertificated security, the issuer has registered or registers the debtor as the registered owner; or
(3) If the collateral is a security entitlement, the debtor is or becomes the entitlement holder.