1. 1. A security interest in favor of a securities intermediary attaches to a person's security entitlement if:

1. a. 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. b. The securities intermediary credits the financial asset to the buyer's securities account before the buyer pays the securities intermediary.

2. 2. The security interest described in subsection 1 secures the person's obligation to pay for the financial asset.

3. 3. 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. a. The security or other financial asset: 1. (1) In the ordinary course of business is transferred by delivery with any necessary indorsement or assignment; and 2. (2) Is delivered under an agreement between persons in the business of dealing with such securities or financial assets; and

2. b. The agreement calls for delivery against payment.

4. 4. The security interest described in subsection 3 secures the obligation to make payment for the delivery.