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.
1 Such a buyer would take free of a security interest created by the debtor seller (as a merchant) even if the security interest is perfected. 2  UCC 9-320(a); UCC 1-201(b) (9); 914 F. Supp. 2d, at 544.