2006 New York Code - Perfection By Control.

 
  Section 9--314. Perfection by Control.
    (a) Perfection by control. A security interest in investment property,
  deposit  accounts,  letter-of-credit rights, or electronic chattel paper
  may be perfected by control of  the  collateral  under  Section  9--104,
  9--105, 9--106, or 9--107.
    (b) Specified  collateral: time of perfection by control; continuation
  of perfection. A  security  interest  in  deposit  accounts,  electronic
  chattel  paper, or letter-of-credit rights is perfected by control under
  Section 9--104, 9--105, or 9--107 when the secured party obtains control
  and remains perfected by control only while the  secured  party  retains
  control.
    (c) Investment  property:  time of perfection by control; continuation
  of perfection. A security interest in investment property  is  perfected
  by  control under Section 9--106 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.
    (d) Cooperative interests. Subsections (a) through (c) do not apply to
  cooperative interests.