Code of Virginia - Title 8.9A Commercial Code - Secured Transactions - Part 3 Perfection And Priority

8.9A-301 Law governing perfection and priority of security interests
Except as otherwise provided in §§ 8.9A-303 through 8.9A-306, the following rules determine the law governing perfection, the effect of perfection or nonperfection, and the ...
8.9A-302 Law governing perfection and priority of agricultural liens
While farm products are located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority ...
8.9A-303 Law governing perfection and priority of security interests in goods covered by a certificate of ti...
(a) Applicability of section. This section applies to goods covered by a certificate of title, even if there is no other relationship between the jurisdiction ...
8.9A-304 Law governing perfection and priority of security interests in deposit accounts
(a) Law of bank's jurisdiction governs. The local law of a bank's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of ...
8.9A-305 Law governing perfection and priority of security interests in investment property
(a) Governing law; general rules. Except as otherwise provided in subsection (c), the following rules apply: (1) While a security certificate is located in a ...
8.9A-306 Law governing perfection and priority of security interests in letter-of-credit rights
(a) Governing law; issuer's or nominated person's jurisdiction. Subject to subsection (c), the local law of the issuer's jurisdiction or a nominated person's jurisdiction governs ...
8.9A-307 Location of debtor
(a) "Place of business." In this section, "place of business" means a place where a debtor conducts its affairs. (b) Debtor's location; general rules. Except ...
8.9A-308 When security interest or agricultural lien is perfected; continuity of perfection
(a) Perfection of security interest. Except as otherwise provided in this section and § 8.9A-309, a security interest is perfected if it has attached and ...
8.9A-309 Security interest perfected upon attachment
The following security interests are perfected when they attach: (1) a purchase-money security interest in consumer goods, except as otherwise provided in § 8.9A-311 (b) ...
8.9A-310 When filing required to perfect security interest or agricultural lien; security interests and agri...
(a) General rule; perfection by filing. Except as otherwise provided in subsection (b) and § 8.9A-312 (b), a financing statement must be filed to perfect ...
8.9A-311 Perfection of security interests in property subject to certain statutes, regulations, and treatie...
(a) Security interest subject to other law. Except as otherwise provided in subsection (d), the filing of a financing statement is not necessary or effective ...
8.9A-312 Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by do...
(a) Perfection by filing permitted. A security interest in chattel paper, negotiable documents, instruments, or investment property may be perfected by filing. (b) Control or ...
8.9A-313 When possession by or delivery to secured party perfects security interest without filing
(a) Perfection by possession or delivery. Except as otherwise provided in subsection (b), a secured party may perfect a security interest in tangible negotiable documents, ...
8.9A-314 Perfection by control
(a) Perfection by control. A security interest in investment property, deposit accounts, letter-of-credit rights, electronic chattel paper, or electronic documents may be perfected by control ...
8.9A-315 Secured party's rights on disposition of collateral and in proceeds
(a) Disposition of collateral; continuation of security interest or agricultural lien; proceeds. Except as otherwise provided in this title and in § 8.2-403 (2): (1) ...
8.9A-316 Continued perfection of security interest following change in governing law
(a) General rule; effect on perfection of change in governing law. A security interest perfected pursuant to the law of the jurisdiction designated in § ...
8.9A-317 Interests that take priority over or take free of security interest or agricultural lien
(a) Conflicting security interests and rights of lien creditors. A security interest or agricultural lien is subordinate to the rights of: (1) a person entitled ...
8.9A-318 No interest retained in right to payment that is sold; rights and title of seller of account or cha...
(a) Seller retains no interest. A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or ...
8.9A-319 Rights and title of consignee with respect to creditors and purchasers
(a) Consignee has consignor's rights. Except as otherwise provided in subsection (b), for purposes of determining the rights of creditors of, and purchasers for value ...
8.9A-320 Buyer of goods
(a) Buyer in ordinary course of business. Except as otherwise provided in subsection (e), a buyer in ordinary course of business, other than a person ...
8.9A-321 Licensee of general intangible and lessee of goods in ordinary course of business
(a) "Licensee in ordinary course of business." In this section, "licensee in ordinary course of business" means a person that becomes a licensee of a ...
8.9A-322 Priorities among conflicting security interests in and agricultural liens on same collatera...
(a) General priority rules. Except as otherwise provided in this section, priority among conflicting security interests and agricultural liens in the same collateral is determined ...
8.9A-323 Future advances
(a) When priority based on time of advance. Except as otherwise provided in subsection (c), for purposes of determining the priority of a perfected security ...
8.9A-324 Priority of purchase-money security interests
(a) General rule; purchase-money priority. Except as otherwise provided in subsection (g), a perfected purchase-money security interest in goods other than inventory or livestock has ...
8.9A-325 Priority of security interests in transferred collateral
(a) Subordination of security interest in transferred collateral. Except as otherwise provided in subsection (b), a security interest created by a debtor is subordinate to ...
8.9A-326 Priority of security interests created by new debtor
(a) Subordination of security interest created by new debtor. Subject to subsection (b), a security interest created by a new debtor which is perfected by ...
8.9A-327 Priority of security interests in deposit account
The following rules govern priority among conflicting security interests in the same deposit account: (1) A security interest held by a secured party having control ...
8.9A-328 Priority of security interests in investment property
The following rules govern priority among conflicting security interests in the same investment property: (1) A security interest held by a secured party having control ...
8.9A-329 Priority of security interests in letter-of-credit right
The following rules govern priority among conflicting security interests in the same letter-of-credit right: (1) A security interest held by a secured party having control ...
8.9A-330 Priority of purchaser of chattel paper or instrument
(a) Purchaser's priority; security interest claimed merely as proceeds. A purchaser of chattel paper has priority over a security interest in the chattel paper which ...
8.9A-331 Priority of rights of purchasers of instruments, documents, and securities under other titles, prio...
(a) Rights under Titles 8.3A, 8.7, and 8.8A not limited. This title does not limit the rights of a holder in due course of a ...
8.9A-332 Transfer of money, transfer of funds from deposit account
(a) Transferee of money. A transferee of money takes the money free of a security interest unless the transferee acts in collusion with the debtor ...
8.9A-333 Priority of certain liens arising by operation of law
(a) "Possessory lien." In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien: (1) which secures payment or ...
8.9A-334 Priority of security interests in fixtures and crops
(a) Security interest in fixtures under this title. A security interest under this title may be created in goods that are fixtures or may continue ...
8.9A-335 Accessions
(a) Creation of security interest in accession. A security interest may be created in an accession and continues in collateral that becomes an accession. (b) ...
8.9A-336 Commingled goods
(a) "Commingled goods." In this section, "commingled goods" means goods that are physically united with other goods in such a manner that their identity is ...
8.9A-337 Priority of security interests in goods covered by certificate of title
If, while a security interest in goods is perfected by any method under the law of another jurisdiction, this Commonwealth issues a certificate of title ...
8.9A-338 Priority of security interest or agricultural lien perfected by filed financing statement providin...
If a security interest or agricultural lien is perfected by a filed financing statement providing information described in § 8.9A-516 (b) (5) which is incorrect ...
8.9A-339 Priority subject to subordination
This title does not preclude subordination by agreement by a person entitled to priority. (1964, c. 219, § 8.9-316; 2000, c. 1007.) ...
8.9A-340 Effectiveness of right of recoupment or set-off against deposit account
(a) Exercise of recoupment or set-off. Except as otherwise provided in subsection (c), a bank with which a deposit account is maintained may exercise any ...
8.9A-341 Bank's rights and duties with respect to deposit account
Except as otherwise provided in § 8.9A-340 (c), and unless the bank otherwise agrees in an authenticated record, a bank's rights and duties with respect ...
8.9A-342 Bank's right to refuse to enter into or disclose existence of control agreement
This title does not require a bank to enter into an agreement of the kind described in § 8.9A-104 (a) (2), even if its customer ...

Last modified: April 3, 2009