Nev. Rev. Stat. » NRS: CHAPTER 104 - UNIFORM COMMERCIAL CODE—ORIGINAL ARTICLES

Nev. Rev. Stat. § 104.9106

Control of investment property

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NRS 104.9106  Control of investment property.

      1.  A person has control of a certificated security, uncertificated security, or security entitlement as provided in NRS 104.8106.

      2.  A secured party has control of a commodity contract if:

      (a) The secured party is the commodity intermediary with which the commodity contract is carried; or

      (b) 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.

      3.  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.

      (Added to NRS by 1999, 293)

     

Notes of Decisions
Cited in 3 cases, 1974–1991 · leading case: Board of Trustees of the Vacation Trust Carpenters Local No. 1780 v. Durable Developers, Inc.
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Board of Trustees of the Vacation Trust Carpenters Local No. 1780 v. Durable Developers, Inc. (1986) nev “8 Under Article Nine, see NRS 104.9106, “account” is defined as “any right to payment for goods sold or leased or for services rendered.”
NEVADA R. & S. CO. v. United States Dept. of Treasury IRS (1974) nvd “Nevada Revised Statutes § 104.9106 defines “account” as “any right to payment for goods sold .”
Ketcham v. United States (1991) nvd “§ 104.9106(1). This was a sale of a partnership interest, not an account.”
— Nev. Rev. Stat. § 104.9106(1) — 1 case
Ketcham v. United States (1991) nvd “§ 104.9106(1). This was a sale of a partnership interest, not an account.”
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