{"data":{"id":"us-ia/iowa-code-554.9206","jurisdiction":"us-ia","citation":"Iowa Code § 554.9206","heading":"Security interest arising in purchase or delivery of financial asset.","body":"1. A security interest in favor of a securities intermediary attaches to a person’s security entitlement if:\na. 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\nb. the securities intermediary credits the financial asset to the buyer’s securities account before the buyer pays the securities intermediary.\n2. The security interest described in subsection 1 secures the person’s obligation to pay for the financial asset.\n3. 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:\na. the security or other financial asset:\n(1) in the ordinary course of business is transferred by delivery with any necessary indorsement or assignment; and\n(2) is delivered under an agreement between persons in the business of dealing with such securities or financial assets; and\nb. the agreement calls for delivery against payment.\n4. The security interest described in subsection 3 secures the obligation to make payment for the delivery.","path":["Title XIII - COMMERCE (Ch. 505 - 554I)","Chapter 554 - UNIFORM COMMERCIAL CODE","Article 9 - SECURED TRANSACTIONS","Part 2 - EFFECTIVENESS OF SECURITY AGREEMENT — ATTACHMENT OF SECURITY INTEREST — RIGHTS OF PARTIES TO SECURITY AGREEMENT","Subpart A - EFFECTIVENESS AND ATTACHMENT"],"source_url":"https://www.legis.iowa.gov/docs/code/2026/554.9206.pdf","current_through":"Iowa Code 2026 edition","vintage":"","retrieved_at":"2026-09-14T19:40:15Z","sha256":"00d1ba020f2c1eb08ef79f1894a401340b9fa3f7d63b105f794b7e4fa41db2f5","source_id":"us-ia","stale":false,"prev":"us-ia/iowa-code-554.9205","next":"us-ia/iowa-code-554.9207"},"notice":"GroundRules: Original legal text. Not legal advice."}