Skip to main content
Find a Lawyer

Washington Revised Code Title 62A. Uniform Commercial Code § 62A.9A-206 62A.9A-206. Security interest arising in purchase or delivery of financial asset

Current as of April 06, 2022 | Updated by FindLaw Staff

(a) Security interest when person buys through securities intermediary.  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;  and

(2) The securities intermediary credits the financial asset to the buyer's securities account before the buyer pays the securities intermediary.

(b) Security interest secures obligation to pay for financial asset.  The security interest described in subsection (a) of this section secures the person's obligation to pay for the financial asset.

(c) Security interest in payment against delivery transaction.  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;  and

(2) The agreement calls for delivery against payment.

(d) Security interest secures obligation to pay for delivery.  The security interest described in subsection (c) of this section secures the obligation to make payment for the delivery.

Back to chapter list
Previous part of code Next part of code
Back to chapter list

Cite this article: FindLaw.com - Washington Revised Code Title 62A. Uniform Commercial Code § 62A.9A-206 62A.9A-206. Security interest arising in purchase or delivery of financial asset - last updated April 06, 2022 | https://codes.findlaw.com/wa/title-62a-uniform-commercial-code/wa-rev-code-62a-9a-206/

Read this complete Washington Revised Code Title 62A. Uniform Commercial Code § 62A.9A-206 62A.9A-206. Security interest arising in purchase or delivery of financial asset on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

Was this helpful?

Search all Washington Codes

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About the Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to find an attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

    More Options
    Copied to clipboard