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Can you summarize IACO 554.9106?
UNIFORM COMMERCIAL CODE > Control of investment property.
Short Summary
This legal document, found in the Iowa Code under the Commerce section and the Uniform Commercial Code, pertains to the control of investment property. It outlines the conditions under which a person has control of a certificated security, uncertificated security, or security entitlement. Additionally, it explains how a secured party can have control over a commodity contract, either by being the commodity intermediary or by agreement with the commodity customer and intermediary. The document also states that a secured party with control over all security entitlements or commodity contracts in a securities account or commodity account has control over the entire account. The document references other sections of the Iowa Code that are related to control of investment property. No specific exemptions or penalties are mentioned in this document.
Whom does it apply to?
Secured parties, commodity intermediaries, and commodity customers
What does it govern?
Control of investment property
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Iowa