# Commercial Law (GCL)

## Title 9. Secured Transactions

### Subtitle 3. Perfection and Priority

#### Section 9-314

(a) 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 Sec. 7-106, Sec. 9-104, Sec. 9-105, Sec. 9-106, or Sec. 9-107.

(b) A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights, or electronic documents is perfected by control under Sec. 7-106, Sec. 9-104, Sec. 9-105, or Sec. 9-107 when the secured party obtains control and remains perfected by control only while the secured party retains control.

(c) A security interest in investment property is perfected by control under Sec. 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.

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Md. Code Ann., Com. Law (as displayed at mgaleg.maryland.gov, October 16, 2026)