9. Delivery to Third Party by Secured Party. New subsections (h) and (i) [Maine cite subsections (8) and (9)] address the practice of mortgage warehouse lenders. These lenders typically send mortgage notes to prospective purchasers under cover of letters advising the prospective purchasers that the lenders hold security interests in the notes. These lenders relied on notification to maintain perfection under former 9-305. Requiring them to obtain authenticated acknowledgments from each prospective purchaser under subsection (c) [Maine cite subsection (3)] could be unduly burdensome and disruptive of established practices. Under subsection (h) [Maine cite subsection (8)], when a secured party in possession itself delivers the collateral to a third party, instructions to the third party would be sufficient to maintain perfection by possession; an acknowledgment would not be necessary. Under subsection (i) [Maine cite subsection (9)], the secured party does not relinquish possession by making a delivery under subsection (h) [Maine cite subsection (8)], even if the delivery violates the rights of the debtor. That subsection also makes clear that a person to whom collateral is delivered under subsection (h) [Maine cite subsection (8)] does not owe any duty to the secured party and is not required to confirm the delivery to another person unless the person otherwise agrees or law other than this Article provides otherwise.

§9-1314.__Perfection by control

(1)__A security interest in investment property, deposit accounts, letter-of-credit rights or electronic chattel paper may be perfected by control of the collateral under section 9-1104, 9-1105, 9-1106 or 9-1107.

(2)__A security interest in deposit accounts, electronic chattel paper, or letter-of-credit rights is perfected by control under section 9-1104, 9-1105 or 9-1107 when the secured party obtains control and remains perfected by control only while the secured party retains control.