Perfection By Possession Or Control

TITLE 28 COMMERCIAL TRANSACTIONS CHAPTER 53 DIGITAL ASSETS 28-5306. perfection by possession or control. (1) Perfection by possession creates a possessory security interest under section 28-9-301 , Idaho Code. (2)  A security interest held by a secured party having possession or control has priority over a security interest held by a secured party that does not have possession or control, as applicable. Other provisions of law relating to perfection and priority of security interests, including section 28-9-207 , Idaho Code, and priority of control over delivery, shall apply, except that section 28-9-322 (a)(1) and (b), Idaho Code, shall not apply. (3)  A person that acquires an interest in and obtains control of a virtual currency without notice of any adverse claim takes the interest in the virtual currency and in any right to payment evidenced by the virtual currency free of any adverse claim.