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Can you summarize MNST 336.9-106?
UNIFORM COMMERCIAL CODE > CONTROL OF INVESTMENT PROPERTY.
Short Summary
This legal document, repealed in 2000, pertains to the control of investment property. It outlines the various forms of control for certificated securities, uncertificated securities, security entitlements, and commodity contracts. A person has control of a security or security entitlement as provided in section 336.8-106. Additionally, a secured party has control of a commodity contract if they are the carrying commodity intermediary or if an agreement is in place between the commodity customer, secured party, and commodity intermediary. Furthermore, a secured party having control of all security entitlements or commodity contracts carried in a securities account or commodity account has control over the respective account. The document does not mention any specific exemptions or penalties.
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
Minnesota