Pennsylvania § 9206 - Security interest arising in purchase or delivery of financial asset.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 9206 — Security interest arising in purchase or delivery of financial asset., with citation guidance and answers to common questions.
§ 9206. Security interest arising in purchase or delivery of financial asset.
(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:
(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
(2) the securities intermediary credits the financial asset to the buyer's securities account before the buyer pays the securities intermediary.
(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.
(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 all of the following apply:
(1) The security or other financial asset:
(i) in the ordinary course of business is transferred by delivery with any necessary indorsement or assignment; and
(ii) is delivered under an agreement between persons in the business of dealing with such securities or financial assets.
(2) The agreement calls for delivery against payment.
(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.
Cross References. Section 9206 is referred to in sections 9203, 9309 of this title.
Source: official Pennsylvania text · Last verified 2026-08-27
Frequently Asked Questions About Pennsylvania § 9206
What does Pennsylvania Consolidated Statutes § 9206 cover?
Section 9206 ("Security interest arising in purchase or delivery of financial asset.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 9206?
A common citation format is "Pennsylvania Consolidated Statutes § 9206" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 9206 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.