What is the 'Depository Trust Company - DTC'. The Depository Trust Company (DTC) is one of the world's largest securities depositories. The DTC, which was founded in 1973 and is based in New York City, is organized as a limited purpose trust company and provides safekeeping through electronic recordkeeping of securities balances.
To be prepetition property, the security interest must attach to the property. A security interest attaches to personal property upon satisfaction of three requirements: (1) the parties have an adequate security agreement, (2) the secured party gives value, and (3) the debtor has rights or the power to transfer rights in the personal property.
A security interest is a property right that enables the creditor to take possession of the property if the debtor does not pay the amount owed. ANS: T TOP: AICPA BB-Legal MSC: AACSB Analytic 3. The property that is subject to the security interest is called collateral. ANS: T TOP: AICPA BB-Legal MSC: AACSB Analytic 4. In a security agreement, the creditor and the debtor agree that the creditor has a security interest. ANS: T TOP: AICPA BB-Legal MSC: AACSB Analytic 5.