KRS 355.9-314: Perfection by control.

(1) A security interest in controllable accounts, controllable electronic records,

controllable payment intangibles, deposit accounts, electronic documents, electronic

money, investment property, or letter -of-credit rights may be perfected by control

of the co llateral under KRS 355.7 -106, 355.9-104, 355.9-1051, 355.9-106, 355.9-

107, or 355.9-1071.

(2) A security interest in controllable accounts, controllable electronic records,

controllable payment intangibles, deposit accounts, electronic documents, electronic

money, or letter -of-credit rights is perfected by control under KRS 355.7 -106,

355.9-104, 355.9 -1051, 355.9 -107, or 355.9 -1071 not earlier than the time the

secured party obtains control and remains perfected by control only while the

secured party retains control.

(3) A security interest in investment property is perfected by control under KRS 355.9 -

106 not earlier than the time the secured party obtains control and remains perfected

by control until:

(a) The secured party does not have control; and

(b) One (1) of the following occurs:

1. If the collateral is a certificated security, the debtor has or acquires

possession of the security certificate;

2. If the collateral is an uncertificated security, the issuer has registered or

registers the debtor as the registered owner; or

3. If the collateral is a security entitlement, the debtor is or becomes the

entitlement holder.