controllable payment intangible. 1. Control under section 554.14105. A secured party has control of a controllable electronic record as provided in section 554.14105. 2. Control of controllable account and controllable payment intangible. A secured party has control of a controllable account or controllable payment intangible if the secured party has control of the controllable electronic record that evidences the controllable account or controllable payment intangible.
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