{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.9A-206.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.9A-206.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.9A-206.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.9A-206.html"}],"law_id":54271,"edition_id":1,"section_id":54271,"structure_id":13279,"section_number":"8.9A-206","catch_line":"Security interest arising in purchase or delivery of financial asset","history":"1996, c. 216, \u00a7 8.9-116; 2000, c. 1007.","full_text":"a\n\nSecurity 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\n\nthe 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; and2\n\nthe securities intermediary credits the financial asset to the buyer’s securities account before the buyer pays the securities intermediary.b\n\nSecurity 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\n\nSecurity 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:1\n\nthe security or other financial asset:A\n\nin the ordinary course of business is transferred by delivery with any necessary endorsement or assignment; andB\n\nis delivered under an agreement between persons in the business of dealing with such securities or financial assets; and2\n\nthe agreement calls for delivery against payment.d\n\nSecurity interest secures obligation to pay for delivery. The security interest described in subsection (c) secures the obligation to make payment for the delivery.","order_by":null,"text":{"0":{"id":199237,"text":"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:","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"a1"},"1":{"id":199238,"text":"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","type":"section","prefixes":["a","1"],"prefix":"1","entire_prefix":"a1","prefix_anchor":"a1","level":2,"prior_prefix":"a","next_prefix":"a2"},"2":{"id":199239,"text":"the securities intermediary credits the financial asset to the buyer’s securities account before the buyer pays the securities intermediary.","type":"section","prefixes":["a","2"],"prefix":"2","entire_prefix":"a2","prefix_anchor":"a2","level":2,"prior_prefix":"a1","next_prefix":"b"},"3":{"id":199240,"text":"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.","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a2","next_prefix":"c"},"4":{"id":199241,"text":"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:","type":"section","prefixes":["c"],"prefix":"c","entire_prefix":"c","prefix_anchor":"c","level":1,"prior_prefix":"b","next_prefix":"c1"},"5":{"id":199242,"text":"the security or other financial asset:","type":"section","prefixes":["c","1"],"prefix":"1","entire_prefix":"c1","prefix_anchor":"c1","level":2,"prior_prefix":"c","next_prefix":"A"},"6":{"id":199243,"text":"in the ordinary course of business is transferred by delivery with any necessary endorsement or assignment; and","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"c1","next_prefix":"B"},"7":{"id":199244,"text":"is delivered under an agreement between persons in the business of dealing with such securities or financial assets; and","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B2"},"8":{"id":199245,"text":"the agreement calls for delivery against payment.","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B","next_prefix":"d"},"9":{"id":199246,"text":"Security interest secures obligation to pay for delivery. The security interest described in subsection (c) secures the obligation to make payment for the delivery.","type":"section","prefixes":["d"],"prefix":"d","entire_prefix":"d","prefix_anchor":"d","level":1,"prior_prefix":"B2"}},"ancestry":[{"id":13279,"edition_id":1,"name":"Effectiveness and Attachment","identifier":"1","label":"subpart","depth":3,"order_by":1,"parent_id":13278,"metadata":{},"date_created":"2026-06-26 03:44:33","date_modified":"2026-06-26 03:44:33","permalink":{"id":283895,"object_type":"structure","relational_id":13279,"identifier":"1","token":"8.9A\/2\/1","url":"\/8.9A\/2\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13278,"edition_id":1,"name":"Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement","identifier":"2","label":"part","depth":2,"order_by":1,"parent_id":13277,"metadata":{},"date_created":"2026-06-26 03:44:33","date_modified":"2026-06-26 03:44:33","permalink":{"id":283893,"object_type":"structure","relational_id":13278,"identifier":"2","token":"8.9A\/2","url":"\/8.9A\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13277,"edition_id":1,"name":"Commercial Code \u2014 Secured Transactions","identifier":"8.9A","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:33","date_modified":"2026-06-26 03:44:33","permalink":{"id":283833,"object_type":"structure","relational_id":13277,"identifier":"8.9A","token":"8.9A","url":"\/8.9A\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":85189,"structure_id":13279,"section_number":"8.9A-201","catch_line":"General effectiveness of security agreement","url":"\/8.9A-201\/","token":"8.9A\/2\/1\/8.9A-201","metadata":false},{"id":64911,"structure_id":13279,"section_number":"8.9A-202","catch_line":"Title to collateral immaterial","url":"\/8.9A-202\/","token":"8.9A\/2\/1\/8.9A-202","metadata":false},{"id":74128,"structure_id":13279,"section_number":"8.9A-203","catch_line":"Attachment and enforceability of security interest; proceeds, supporting obligations; formal requisites","url":"\/8.9A-203\/","token":"8.9A\/2\/1\/8.9A-203","metadata":false},{"id":61057,"structure_id":13279,"section_number":"8.9A-204","catch_line":"After-acquired property; future advances","url":"\/8.9A-204\/","token":"8.9A\/2\/1\/8.9A-204","metadata":false},{"id":78518,"structure_id":13279,"section_number":"8.9A-204.1","catch_line":"Security interests in consumer goods","url":"\/8.9A-204.1\/","token":"8.9A\/2\/1\/8.9A-204.1","metadata":false},{"id":64653,"structure_id":13279,"section_number":"8.9A-205","catch_line":"Use or disposition of collateral permissible","url":"\/8.9A-205\/","token":"8.9A\/2\/1\/8.9A-205","metadata":false},{"id":54271,"structure_id":13279,"section_number":"8.9A-206","catch_line":"Security interest arising in purchase or delivery of financial asset","url":"\/8.9A-206\/","token":"8.9A\/2\/1\/8.9A-206","metadata":false}],"previous_section":{"id":64653,"structure_id":13279,"section_number":"8.9A-205","catch_line":"Use or disposition of collateral permissible","url":"\/8.9A-205\/","token":"8.9A\/2\/1\/8.9A-205","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.9A-206\/","history_text":"

This law was first created in 1996. The record of its establishment is cataloged in chapter 216<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2000, chapter 1007<\/a>.<\/p>","references":[{"id":74128,"section_number":"8.9A-203","catch_line":"Attachment and enforceability of security interest; proceeds, supporting obligations; formal requisites","order_by":null,"url":"\/8.9A-203\/"},{"id":71502,"section_number":"8.9A-309","catch_line":"Security interest perfected upon attachment","order_by":null,"url":"\/8.9A-309\/"}],"refers_to":false,"permalink":{"id":283921,"object_type":"law","relational_id":54271,"identifier":"8.9A-206","token":"8.9A\/2\/1\/8.9A-206","url":"\/8.9A-206\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.9A-206\/","token":"8.9A\/2\/1\/8.9A-206","dublin_core":{"Title":"Security interest arising in purchase or delivery of financial asset","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.9A-206","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> 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: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> 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 <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> the securities intermediary credits the financial asset to the buyer’s securities account before the buyer pays the securities intermediary. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> 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. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

c.<\/span> 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: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> the security or other financial asset: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> in the ordinary course of business is transferred by delivery with any necessary endorsement or assignment; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> is delivered under an agreement between persons in the business of dealing with such securities or financial assets<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> the agreement calls for delivery against payment. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

d.<\/span> Security interest secures obligation to pay for delivery. The security interest described in subsection (c) secures the obligation to make payment for the delivery. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSECURITY INTEREST ARISING IN PURCHASE OR DELIVERY OF FINANCIAL ASSET (\u00a7\n8.9A-206)\n\na. Security interest when person buys through securities intermediary. A\nsecurity interest in favor of a securities intermediary attaches to a\nperson’s security entitlement if:\n\n 1. the person buys a financial asset through the securities intermediary in a\n transaction in which the person is obligated to pay the purchase price to the\n securities intermediary at the time of the purchase; and\n\n 2. the securities intermediary credits the financial asset to the\n buyer’s securities account before the buyer pays the securities\n intermediary.\n\nb. Security interest secures obligation to pay for financial asset. The security\ninterest described in subsection (a) secures the person’s obligation to\npay for the financial asset.\n\nc. Security interest in payment against delivery transaction. A security\ninterest in favor of a person that delivers a certificated security or other\nfinancial asset represented by a writing attaches to the security or other\nfinancial asset if:\n\n 1. the security or other financial asset:\n\nA. in the ordinary course of business is transferred by delivery with any\nnecessary endorsement or assignment; and\n\nB. is delivered under an agreement between persons in the business of dealing\nwith such securities or financial assets; and\n\n 2. the agreement calls for delivery against payment.\n\nd. Security interest secures obligation to pay for delivery. The security\ninterest described in subsection (c) secures the obligation to make payment for\nthe delivery.\n\nHISTORY: 1996, c. 216, \u00a7 8.9-116; 2000, c. 1007.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}