Current through L. 2024, ch. 259
Section 47-9206 - Security interest arising in purchase or delivery of financial assetA. A security interest in favor of a securities intermediary attaches to a person's security entitlement if: 1. The person buys a financial asset through the securities intermediary in a transaction in which the person is obligated to pay the purchase price to the securities intermediary at the time of the purchase; and2. The securities intermediary credits the financial asset to the buyer's securities account before the buyer pays the securities intermediary.B. The security interest described in subsection A secures the person's obligation to pay for the financial asset.C. A security interest in favor of a person that delivers a certificated security or other financial asset represented by a writing attaches to the security or other financial asset if:1. The security or other financial asset:(a) In the ordinary course of business is transferred by delivery with any necessary indorsement or assignment; and(b) Is delivered under an agreement between persons in the business of dealing with such securities or financial assets; and2. The agreement calls for delivery against payment.D. The security interest described in subsection C secures the obligation to make payment for the delivery.