HRS §490:9-314.5
How to perfect a security interest in chattel paper
A secured party can perfect a security interest in chattel paper by physically holding every authoritative paper copy and controlling every authoritative electronic copy. Perfection starts only when both are done and lasts only while both are kept. Certain rules about possession from another section also apply.
creditorsdebtorsfinancial institutions
The statute, as written — Perfection by possession and control of chattel paper
(a) A secured party may perfect a security interest in chattel paper by taking possession of each authoritative tangible copy of the record evidencing the chattel paper and obtaining control of each authoritative electronic copy of the electronic record evidencing the chattel paper. (b) A security interest shall be deemed perfected under subsection (a) no earlier than the time the secured party takes possession and obtains control and shall be deemed to remain perfected under subsection (a) only while the secured party retains possession and control. (c) Sections 490:9-313(c) and (f) through (i) shall apply to perfection by possession of an authoritative tangible copy of a record evidencing chattel paper.
Sections this one refers to
§490:9-313 How a lender can perfect a security interest by holding collateral
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