{"data":{"id":"us-nc/n.c.-gen.-stat.-25-9-206","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 25-9-206","heading":"Security interest arising in purchase or delivery of financial asset.","body":"(a)\tSecurity 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)\tThe 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)\tThe securities intermediary credits the financial asset to the buyer's securities account before the buyer pays the securities intermediary.\n(b)\tSecurity 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.\n(c)\tSecurity 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)\tThe security or other financial asset:\na.\tIn the ordinary course of business is transferred by delivery with any necessary indorsement or assignment; and\nb.\tIs delivered under an agreement between persons in the business of dealing with such securities or financial assets; and\n(2)\tThe agreement calls for delivery against payment.\n(d)\tSecurity 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. (1997-181, s. 6; 2000-169, s. 1.)\nSubpart 2. Rights and Duties.","path":["Chapter 25. 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://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_25/GS_25-9-206.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T17:58:47Z","sha256":"8dedbeb2f659cb43aa79228570ea556c3dbdb68e788837a8449d773122e77de8","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-25-9-205","next":"us-nc/n.c.-gen.-stat.-25-9-207"},"notice":"GroundRules: Original legal text. Not legal advice."}