Nevada § 104.9206 Security interest arising in purchase or delivery of financial asset

Nevada Statutes

§ 104.9206 — Security interest arising in purchase or delivery of financial asset

Nevada·Title 8 COMMERCIAL INSTRUMENTS AND TRANSACTIONS·Ch. 104 Uniform· Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement

1. A security interest in favor of a securities intermediary attaches to a person’s security entitlement if:

(a)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; and

(b)The securities intermediary credits the financial asset to the person’s securities account before he or she pays the securities intermediary. 2. The security interest described in subsection 1 secures the buyer’s obligation to pay for the financial asset. 3. 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:

(a)The security or other finan

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1. A security interest in favor of a securities intermediary attaches to a person’s security entitlement if:
(a) 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; and
(b) The securities intermediary credits the financial asset to the person’s securities account before he or she pays the securities intermediary.
2. The security interest described in subsection 1 secures the buyer’s obligation to pay for the financial asset.
3. 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:
(a) The security or other financial asset:
(1) In the ordinary course of business is transferred by delivery with any necessary endorsement or assignment; and
(2) Is delivered under an agreement between persons in the business of dealing with such securities or financial assets; and
(b) The agreement calls for delivery against payment.
4. The security interest described in subsection 3 secures the obligation to make payment for the delivery.

Nevada § 104.9206 (Security interest arising in purchase or delivery of financial asset) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.