2017 New York Laws
UCC - Uniform Commercial Code
Article 9 - Secured Transactions
Part 3 - Perfection and Priority
Sub Part 2 - Perfection
9-314 - 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, electronic chattel paper, or
  electronic documents may be perfected by control of the collateral under
  Section 7--106, 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,  letter-of-credit  rights,  or  electronic  documents  is
  perfected  by  control  under  Section 7--106, 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.