California · Commercial Code

COM §9106: (a) A person has control of a certificated security, uncertificated security, or security entitlement as provided in Section 8106.

What this law says, in plain English

This statute defines when a person has control of a certificated security, uncertificated security, or security entitlement, as detailed in Section 8106.

Read the full statutory text

(a) A person has control of a certificated security, uncertificated security, or security entitlement as provided in Section 8106. (b) A secured party has control of a commodity contract if either of the following conditions is satisfied: (1) The secured party is the commodity intermediary with which the commodity contract is carried. (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.

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This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.