Okla. Stat. tit. 12A, § 12A-1-9-206
This is the official text of Okla. Stat. tit. 12A, § 12A-1-9-206, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Security interest arising in purchase or delivery of
Official statutory text
financial asset.
SECURITY INTEREST ARISING IN PURCHASE
OR DELIVERY OF FINANCIAL ASSET
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 46
(a) 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) The security interest described in subsection (a) of this
section secures the person’s obligation to pay for the financial
asset.
(c) 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:
(1) the security or other financial asset:
(A) in the ordinary course of business is transferred by
delivery with any necessary endorsement or assignment;
and
(B) is delivered under an agreement between persons in the
business of dealing with such securities or financial
assets; and
(2) the agreement calls for delivery against payment.
(d) The security interest described in subsection (c) of this
section secures the obligation to make payment for the delivery.
SECURITY INTEREST ARISING IN PURCHASE
OR DELIVERY OF FINANCIAL ASSET
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 46
(a) 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) The security interest described in subsection (a) of this
section secures the person’s obligation to pay for the financial
asset.
(c) 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:
(1) the security or other financial asset:
(A) in the ordinary course of business is transferred by
delivery with any necessary endorsement or assignment;
and
(B) is delivered under an agreement between persons in the
business of dealing with such securities or financial
assets; and
(2) the agreement calls for delivery against payment.
(d) The security interest described in subsection (c) of this
section secures the obligation to make payment for the delivery.
Status: in_force · Read it on the official government site
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