eLaws of Florida

  SECTION 679.1061. Control of investment property.  


Latest version.
  • 1(1) 2A person has control of a certificated security, uncertificated security, or security entitlement as provided in s. 19678.106120.
    21(2) 22A secured party has control of a commodity contract if:
    32(a) 33The secured party is the commodity intermediary with which the commodity contract is carried; or
    48(b) 49The 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.
    87(3) 88A 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.-s. 1, ch. 2001-198.