California Commercial Code — Secured Transactions — General Provisions — Control of investment property Date: 14 Sep 2016 TEXT PDF Current through the 2016 Legislative Session (a) A person has control of a certificated security, uncertificated security, or security entitlement as provided in Section 8106. (b) A secured party has control of a commodity contract if either of the following conditions is satisfied: (1) The secured party is the commodity intermediary with which the commodity contract is carried. (2) 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. (c) 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. Ca. Com. Code § 9106 EFFECTIVE 7/01/2001. Added October 10, 1999 (Bill Number: SB 45) (Chapter 991).