{"data":{"id":"us-de/6-del.-c.-9-206","jurisdiction":"us-de","citation":"6 Del. C. § 9-206","heading":"Security interest arising in purchase or delivery of financial asset.","body":"(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:\n(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\n(2) the securities intermediary credits the financial asset to the buyer’s securities account before the buyer pays the securities intermediary.\n(b) Security interest secures obligation to pay for financial asset. — The security interest described in subsection (a) secures the person’s obligation to pay for the financial asset.\n(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:\n(1) the security or other financial asset:\n(A) in the ordinary course of business is transferred by delivery with any necessary endorsement or assignment; and\n(B) is delivered under an agreement between persons in the business of dealing with such securities or financial assets; and\n(2) the agreement calls for delivery against payment.\n(d) Security interest secures obligation to pay for delivery. — The security interest described in subsection (c) secures the obligation to make payment for the delivery.","path":["Title 6. Commerce and Trade","SUBTITLE I","Uniform Commercial Code","ARTICLE 9. Secured Transactions","Part 2","Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement"],"source_url":"https://delcode.delaware.gov/title6/c009/sc02/index.html#9-206","current_through":"2026-08-10 (85 Del. Laws, c. 421, 424)","vintage":"","retrieved_at":"2026-09-05T23:02:06Z","sha256":"489a3eca86d85bb4ee96e17e2a62c6574edb56ccf8ae0d6a1f7ddb0a56f4cb4b","source_id":"us-de","stale":true,"prev":"us-de/6-del.-c.-9-205","next":"us-de/6-del.-c.-9-207"},"notice":"GroundRules: Original legal text. Not legal advice."}