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Can you summarize NHRS 382-A:9-206?
UNIFORM COMMERCIAL CODE > Security Interest Arising in Purchase or Delivery of Financial Asset.
Short Summary
This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the security interest that arises when a person buys a financial asset through a securities intermediary or delivers a certificated security or other financial asset. In the case of buying through a securities intermediary, the security interest attaches if the person is obligated to pay the purchase price to the securities intermediary at the time of purchase, and the securities intermediary credits the financial asset to the buyer’s securities account before payment. This security interest secures the person’s obligation to pay for the financial asset. In the case of a delivery transaction, the security interest attaches if the security or other financial asset is transferred by delivery with any necessary endorsement or assignment, and the agreement between the parties calls for delivery against payment. This security interest secures the obligation to make payment for the delivery. The document does not mention any specific exemptions or penalties.
Whom does it apply to?
Persons involved in buying financial assets through a securities intermediary or delivering certificated securities or other financial assets
What does it govern?
Security Interest Arising in Purchase or Delivery of Financial Asset
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
New Hampshire