Although the arrangements giving rise to control may themselves prevent, or may enable the secured party at its discretion to prevent, the debtor from reaching the funds on deposit, subsection (b) [Maine cite subsection (2)] makes clear that the debtor's ability to reach the funds is not inconsistent with "control."

Perfection by control is not available for bank accounts evidenced by an instrument (e.g., certain certificates of deposit), which by definition are "instruments" and not "deposit accounts." See Section 9-102 [Maine cite section 9-1102] (defining "deposit account" and "instrument").

§9-1105.__Control of electronic chattel paper

A secured party has control of electronic chattel paper if the record or records comprising the chattel paper are created, stored and assigned in such a manner that:

(1)__A single authoritative copy of the record or records exists that is unique, identifiable and, except as otherwise provided in subsections (4), (5) and (6), unalterable;

(2)__The authoritative copy identifies the secured party as the assignee of the record or records;

(3)__The authoritative copy is communicated to and maintained by the secured party or its designated custodian;

(4)__Copies or revisions that add or change an identified assignee of the authoritative copy can be made only with the participation of the secured party;

(5)__Each copy of the authoritative copy and any copy of a copy is readily identifiable as a copy that is not the authoritative copy; and

(6)__Any revision of the authoritative copy is readily identifiable as an authorized or unauthorized revision.

Official Comment

1. Source. New.