{"data":{"id":"us-ky/krs-355.9-206","jurisdiction":"us-ky","citation":"KRS 355.9-206","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\nsecurity entitlement if:\n(a) The person buys a financial asset through the securities intermediary in a\ntransaction in which the person is obligated to pay the purchase price  to the\nsecurities intermediary at the time of the purchase; and\n(b) The securities intermediary credits the financial asset to the buyer's securities\naccount before the buyer pays the securities intermediary.\n(2) The security interest described in subsect ion (1) of this section secures the person's\nobligation to pay for the financial asset.\n(3) A security interest in favor of a person that delivers a certificated security or other\nfinancial asset represented by a writing attaches to the security or other f inancial\nasset if:\n(a) The security or other financial asset:\n1. In the ordinary course of business is transferred by delivery with any\nnecessary indorsement or assignment; and\n2. Is delivered under an agreement between persons in the business of\ndealing with such securities or financial assets; and\n(b) The agreement calls for delivery against payment.\n(4) The security interest described in subsection (3) of this section secures the\nobligation to make payment for the delivery.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33749","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:47Z","sha256":"3b01c26c03a3978cd7935339b6f7cd437c4cc130a17aea0c3bd15f42b354b465","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.9-205","next":"us-ky/krs-355.9-207"},"notice":"GroundRules: Original legal text. Not legal advice."}