{"data":{"id":"us-dc/d.c.-code-28-9-206","jurisdiction":"us-dc","citation":"D.C. Code § 28:9-206","heading":"Security interest arising in purchase or delivery of financial asset.","body":"(a)\nA security interest in favor of a securities intermediary attaches to a person’s security entitlement if:\n(1)\nThe 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\n(2)\nThe securities intermediary credits the financial asset to the buyer’s securities account before the buyer pays the securities intermediary.\n\n(b)\nThe security interest described in subsection (a) secures the person’s obligation to pay for the financial asset.\n\n(c)\nA 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:\n(1)\nThe security or other financial asset:\n(A)\nIn the ordinary course of business is transferred by delivery with any necessary indorsement or assignment; and\n(B)\nIs delivered under an agreement between persons in the business of dealing with such securities or financial assets; and\n(2)\nThe agreement calls for delivery against payment.\n\n(d)\nThe security interest described in subsection (c) secures the obligation to make payment for the delivery.","path":["Title 28. Commercial Instruments and Transactions. [Enacted title]","Subtitle I. Uniform Commercial Code.","Article 9. Secured Transactions.","Part II. Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement.","Subpart 1. Effectiveness and Attachment."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/28:9-206","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"ada6821cb798efd57c72e150e664b9d41456e3cb1256c06e27a82b9216c77ab9","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-28-9-205","next":"us-dc/d.c.-code-28-9-207"},"notice":"GroundRules: Original legal text. Not legal advice."}