The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 9-206)
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§ 9—206. Security interest arising in purchase or delivery of financial asset
(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 indorsement
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. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)