<?xml version='1.0' encoding='utf-8'?>
<section article="gcl" article_name="Commercial Law" number="9-106" title_number="9" title_name="Secured Transactions" subtitle_number="1" subtitle_name="General Provisions">
  <level label="a">
    <text>A person has control of a certificated security, uncertificated security, or security entitlement as provided in § 8-106 of this article.</text>
  </level>
  <level label="b">
    <text>A secured party has control of a commodity contract if:</text>
    <level label="1">
      <text>The secured party is the commodity intermediary with which the commodity contract is carried; or</text>
    </level>
    <level label="2">
      <text>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.</text>
    </level>
  </level>
  <level label="c">
    <text>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.</text>
  </level>
</section>
