Idaho State Statutes - Idaho Attorney Directory

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.

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