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THIRD PARTY EFFECTIVENESS

TYPE OF HOW DONE1 WHERE CONTENT OF PARTIES TO NOTES


SECURITY EMBODIED AGREEMENT AGREEMENT
Tangible Registration
asset Possession
Investment Registration
Property such
as securities
Control Control Agreement in  Issuer or  Control of
Agreement writing intermediary the Security
according to  Grantor interest in a
which the  Secured deposit
issuer or creditor account or
intermediary investment
agrees to property is
follow perfected
instructions automatically
from the if deposit-
secured taking
creditor with institution or
respect to the the
security, W/O intermediary
FURTHER is the
CONSENT SECURED
FROM THE CREDITOR.
GRANTOR Otherwise, a
control
agreement or
notation of
the security
interest is
necessary.
Deposit Registration
Account
Control Rights to Agreement in  Deposit-  Control of
deposit writing taking the Security
account according to institution interest in a
which the  Grantor deposit
deposit-taking  Secured account or
institution Creditor investment
agrees to property is
follow perfected
instructions automatically

1
The security agreement that creates the security interest is a consensual contract perfected by mere consent. Thus, perfection in
Section 12 merely refers to the binding effect of the security interest as against third parties or what is referred to as the third-party
effectiveness.
from the if deposit-
secured taking
creditor with institution or
respect to the the
payment of intermediary
funds credited is the
to the deposit SECURED
account , W/O CREDITOR.
FURTHER Otherwise, a
CONSENT control
FROM THE agreement or
GRANTOR notation of
the security
interest is
necessary.
Commodity Agreement
Contracts where
commodity
intermediary
will apply any
value
distributed on
account of the
commodity
contract as
directed by the
secured
creditor
without further
consent by the
commodity
customer or
grantor.