{"data":{"id":"us-nj/n.j.-stat.-12a-9-206","jurisdiction":"us-nj","citation":"N.J. Stat. § 12A:9-206","heading":"Security interest arising in purchase or delivery of financial asset.","body":"Security Interest Arising in Purchase or Delivery of Financial Asset.\n(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) 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:\n(A)\tin the ordinary course of business is transferred by delivery with any necessary indorsement or assignment; and\n(B)\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) secures the obligation to make payment for the delivery.\nL.2001, c.117, s.1; amended 2001, c.386, s.12.","path":["TITLE 12A COMMERCIAL TRANSACTIONS"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"eb34a465feecb6ff4919991b313819db8b86d1ffe799351913da484884027fcf","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-12a-9-205","next":"us-nj/n.j.-stat.-12a-9-207"},"notice":"GroundRules: Original legal text. Not legal advice."}