NRS 104.9206
Security interest arising in purchase or delivery of financial asset.

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.

Source: Section 104.9206 — Security interest arising in purchase or delivery of financial asset., https://www.­leg.­state.­nv.­us/NRS/NRS-104.­html#NRS104Sec9206.

Last Updated

Jun. 24, 2021

§ 104.9206’s source at nv​.us