This Part   deals with the concepts of possession and control of personal property.

A grantor and secured party cannot both have possession of collateral. There are special rules about possession of the following:

  (a)   goods transported by a common carrier;

  (b)   negotiable instruments not evidenced electronically;

  (c)   chattel paper evidenced electronically;

  (d)   investment instruments evidenced by a certificate.

  (a)   ADI accounts;

  (b)   intermediated securities;

  (c)   investment instruments;

  (d)   letters of credit;

  (e)   negotiable instruments not evidenced by a certificate.