| In a transaction in which a secured party who has control |
| grants a security interest in investment property or sells |
| outright the investment property, by virtue of the debtor's |
| consent or applicable legal rules, a purchaser from the secured |
| party typically will cut off the debtor's rights in the |
| investment property or be immune from the debtor's claims. See |
| Section 9-207 [Maine cite section 9-1207], Comments 5 and 6. If |
| the investment property is a security, the debtor normally would |
| retain no interest in the security following the purchase from |
| the secured party, and a claim of the debtor against the secured |
| party for redemption (Section 9-623 [Maine cite section 9-1623]) |
| or otherwise with respect to the security would be a purely |
| personal claim. If the investment property transferred by the |
| secured party is a financial asset in which the debtor had a |
| security entitlement credited to a securities account maintained |
| with the secured party as a securities intermediary, the debtor's |
| claim against the secured party could arise as a part of its |
| securities account notwithstanding its personal nature. (This |
| claim would be analogous to a "credit balance" in the securities |
| account, which is a component of the securities account even |
| though it is a personal claim against the intermediary.) In the |
| case in which the debtor may retain an interest in investment |
| property notwithstanding a repledge or sale by the secured party, |
| subsection (c) [Maine cite subsection (3)] makes clear that the |
| security interest will remain perfected by control. |
