§ 6A-9-206 Security interest arising inpurchase or delivery of financial asset. – (a) Security interest when person buys through securities intermediary.A security interest in favor of a securities intermediary attaches to aperson's security entitlement if:
(1) The person buys a financial asset through the securitiesintermediary in a transaction in which the person is obligated to pay thepurchase price to the securities intermediary at the time of the purchase; and
(2) The securities intermediary credits the financial assetto the buyer's securities account before the buyer pays the securitiesintermediary.
(b) Security interest secures obligation to pay forfinancial asset. The security interest described in subsection (a) securesthe person's obligation to pay for the financial asset.
(c) Security interest in payment against deliverytransaction. A security interest in favor of a person that delivers acertificated security or other financial asset represented by a writingattaches to the security or other financial asset if:
(1) The security or other financial asset:
(i) In the ordinary course of business is transferred bydelivery with any necessary indorsement or assignment; and
(ii) Is delivered under an agreement between persons in thebusiness of dealing with such securities or financial assets; and
(2) The agreement calls for delivery against payment.
(d) Security interest secures obligation to pay fordelivery. The security interest described in subsection (c) secures theobligation to make payment for the delivery.
§ 6A-9-206 Security interest arising inpurchase or delivery of financial asset. – (a) Security interest when person buys through securities intermediary.A security interest in favor of a securities intermediary attaches to aperson's security entitlement if:
(1) The person buys a financial asset through the securitiesintermediary in a transaction in which the person is obligated to pay thepurchase price to the securities intermediary at the time of the purchase; and
(2) The securities intermediary credits the financial assetto the buyer's securities account before the buyer pays the securitiesintermediary.
(b) Security interest secures obligation to pay forfinancial asset. The security interest described in subsection (a) securesthe person's obligation to pay for the financial asset.
(c) Security interest in payment against deliverytransaction. A security interest in favor of a person that delivers acertificated security or other financial asset represented by a writingattaches to the security or other financial asset if:
(1) The security or other financial asset:
(i) In the ordinary course of business is transferred bydelivery with any necessary indorsement or assignment; and
(ii) Is delivered under an agreement between persons in thebusiness of dealing with such securities or financial assets; and
(2) The agreement calls for delivery against payment.
(d) Security interest secures obligation to pay fordelivery. The security interest described in subsection (c) secures theobligation to make payment for the delivery.
§ 6A-9-206 Security interest arising inpurchase or delivery of financial asset. – (a) Security interest when person buys through securities intermediary.A security interest in favor of a securities intermediary attaches to aperson's security entitlement if:
(1) The person buys a financial asset through the securitiesintermediary in a transaction in which the person is obligated to pay thepurchase price to the securities intermediary at the time of the purchase; and
(2) The securities intermediary credits the financial assetto the buyer's securities account before the buyer pays the securitiesintermediary.
(b) Security interest secures obligation to pay forfinancial asset. The security interest described in subsection (a) securesthe person's obligation to pay for the financial asset.
(c) Security interest in payment against deliverytransaction. A security interest in favor of a person that delivers acertificated security or other financial asset represented by a writingattaches to the security or other financial asset if:
(1) The security or other financial asset:
(i) In the ordinary course of business is transferred bydelivery with any necessary indorsement or assignment; and
(ii) Is delivered under an agreement between persons in thebusiness of dealing with such securities or financial assets; and
(2) The agreement calls for delivery against payment.
(d) Security interest secures obligation to pay fordelivery. The security interest described in subsection (c) secures theobligation to make payment for the delivery.
