Ask Reggi Your Question Now
Can you summarize NVRS 104.9206?
Uniform Commercial CodeOriginal Articles > Security interest arising in purchase or delivery of financial asset.
Short Summary
This legal document, part of the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, governs the security interest that arises in the purchase or delivery of financial assets. It outlines the conditions under which a security interest in favor of a securities intermediary attaches to a person’s security entitlement when buying a financial asset through the securities intermediary. It also describes the security interest that attaches to a certificated security or other financial asset when delivered by a person under an agreement that calls for delivery against payment. The document primarily focuses on securing the buyer’s obligation to pay for the financial asset and the obligation to make payment for the delivery. No specific exemptions or penalties are mentioned in this document.
Whom does it apply to?
Persons who buy financial assets through a securities intermediary and persons that deliver 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 penalties are mentioned.
Jurisdiction
Nevada