Securities Account | Practical Law

Securities Account | Practical Law

Securities Account

Securities Account

Practical Law Glossary Item 6-382-3803 (Approx. 2 pages)

Glossary

Securities Account

An account to which a financial asset is or may be credited in accordance with an agreement whereby the financial institution maintaining the account undertakes to treat the person for whom the account is maintained as entitled to exercise the rights that comprise the financial asset (UCC § 8-501(a)).
A securities account is a type of investment property under the UCC. For information on taking a security interest in investment property, see Practice Note, Security Interests: Investment Property.