reglab/housing_qa huggingface dataset:
VA Code § 8.9A-309 (2021)
2021 Code of Virginia|Title 8.9A - Commercial Code - Secured Transactions|Part 2 - Perfection|§ 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) with respect to consumer goods that are subject to a statute or treaty described in § 8.9A-311 (a);(2) an assignment of accounts or payment intangibles which does not by itself or in conjunction with other assignments to the same assignee transfer a significant part of the assignor's outstanding accounts or payment intangibles;(3) a sale of a payment intangible;(4) a sale of a promissory note;(5) a security interest created by the assignment of a health-care-insurance receivable to the provider of the health-care goods or services;(6) a security interest arising under §§ 8.2-401, 8.2-505, 8.2-711 (3), or § 8.2A-508 (5), until the debtor obtains possession of the collateral;(7) a security interest of a collecting bank arising under § 8.4-210;(8) a security interest of an issuer or nominated person arising under § 8.5A-118;(9) a security interest arising in the delivery of a financial asset under § 8.9A-206 (c);(10) a security interest in investment property created by a broker or securities intermediary;(11) a security interest in a commodity contract or a commodity account created by a commodity intermediary;(12) an assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder; and(13) a security interest created by an assignment of a beneficial interest in a decedent's estate.1964, c. 219, § 8.9-302; 1966, c. 569; 1973, c. 509; 1983, cc. 204, 367; 1984, c. 613; 1996, c. 216, §§ 8.9-115, 8.9-116; 2000, c. 1007.
VA Code § 8.9A-310 (2021)
2021 Code of Virginia|Title 8.9A - Commercial Code - Secured Transactions|Part 2 - Perfection|§ 8.9A-310. When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply

(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 all security interests and agricultural liens.(b) Exceptions; filing not necessary. The filing of a financing statement is not necessary to perfect a security interest:(1) that is perfected under § 8.9A-308 (d), (e), (f), or (g);(2) that is perfected under § 8.9A-309 when it attaches;(3) in property subject to a statute, regulation, or treaty described in § 8.9A-311 (a);(4) in goods in possession of a bailee that is perfected under § 8.9A-312 (d) (1) or (2);(5) in certificated securities, documents, goods, or instruments that is perfected without filing, control, or possession under § 8.9A-312 (e), (f), or (g);(6) in collateral in the secured party's possession under § 8.9A-313;(7) in a certificated security which is perfected by delivery of the security certificate to the secured party under § 8.9A-313;(8) in deposit accounts, electronic chattel paper, electronic documents, investment property, or letter-of-credit rights which is perfected by control under § 8.9A-314;(9) in proceeds which is perfected under § 8.9A-315; or(10) that is perfected under § 8.9A-316.(c) Assignment of perfected security interest. If a secured party assigns a perfected security interest or agricultural lien, a filing under this title is not required to continue the perfected status of the security interest against creditors of and transferees from the original debtor.1964, c. 219, § 8.9-302; 1966, c. 569; 1973, c. 509; 1983, cc. 204, 367; 1984, c. 613; 1996, c. 216; 2000, c. 1007; 2004, c. 200.
VA Code § 8.9A-311 (2021)
2021 Code of Virginia|Title 8.9A - Commercial Code - Secured Transactions|Part 2 - Perfection|§ 8.9A-311. Perfection of security interests in property subject to certain statutes, regulations, and treaties

(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 to perfect a security interest in property subject to:(1) a statute, regulation, or treaty of the United States whose requirements for a security interest's obtaining priority over the rights of a lien creditor with respect to the property preempt § 8.9A-310 (a);(2) a statute of the Commonwealth covering automobiles or other goods, which provides for a security interest to be indicated on a certificate of title as a condition to or result of perfection of the security interest; or(3) a statute of another jurisdiction which provides for a security interest to be indicated on a certificate of title as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the property.(b) Compliance with other law. Compliance with the requirements of a statute, regulation, or treaty described in subsection (a) for obtaining priority over the rights of a lien creditor is equivalent to the filing of a financing statement under this title. Except as otherwise provided in subsection (d) and §§ 8.9A-313 and 8.9A-316 (d) and (e) for goods covered by a certificate of title, a security interest in property subject to a statute, regulation, or treaty described in subsection (a) may be perfected only by compliance with those requirements, and a security interest so perfected remains perfected notwithstanding a change in the use or transfer of possession of the collateral.(c) Duration and renewal of perfection. Except as otherwise provided in subsection (d) and § 8.9A-316 (d) and (e), duration and renewal of perfection of a security interest perfected by compliance with the requirements prescribed by a statute, regulation, or treaty described in subsection (a) are governed by the statute, regulation, or treaty. In other respects, the security interest is subject to this title.(d) Inapplicability to certain inventory. During any period in which collateral subject to a statute specified in subsection (a) (2) is inventory held for sale or lease by a person or leased by that person as lessor and that person is in the business of selling goods of that kind, this section does not apply to a security interest in that collateral created by that person.1964, c. 219, § 8.9-302; 1966, c. 569; 1973, c. 509; 1983, cc. 204, 367; 1984, c. 613; 1996, c. 216; 2000, c. 1007; 2012, c. 155.
VA Code § 8.9A-314 (2021)
2021 Code of Virginia|Title 8.9A - Commercial Code - Secured Transactions|Part 2 - Perfection|§ 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 of the collateral under §§ 8.7-106, 8.9A-104, 8.9A-105, 8.9A-106 or § 8.9A-107.(b) Specified collateral; time of perfection by control; continuation of perfection. A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights, or electronic documents is perfected by control under §§ 8.7-106, 8.9A-104, 8.9A-105 or § 8.9A-107 when the secured party obtains control and remains perfected by control only while the secured party retains control.(c) Investment property; time of perfection by control; continuation of perfection. A security interest in investment property is perfected by control under § 8.9A-106 from the time the secured party obtains control and remains perfected by control until:(1) the secured party does not have control; and(2) one of the following occurs:(A) if the collateral is a certificated security, the debtor has or acquires possession of the security certificate;(B) if the collateral is an uncertificated security, the issuer has registered or registers the debtor as the registered owner; or(C) if the collateral is a security entitlement, the debtor is or becomes the entitlement holder.1996, c. 216, § 8.9-115; 2000, c. 1007; 2004, c. 200.
VA Code § 8.9A-315 (2021)
2021 Code of Virginia|Title 8.9A - Commercial Code - Secured Transactions|Part 2 - Perfection|§ 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) a security interest or agricultural lien continues in collateral notwithstanding sale, lease, license, exchange, or other disposition thereof unless the secured party authorized the disposition free of the security interest or agricultural lien; and(2) a security interest attaches to any identifiable proceeds of collateral.(b) When commingled proceeds identifiable. Proceeds that are commingled with other property are identifiable proceeds:(1) if the proceeds are goods, to the extent provided by § 8.9A-336; and(2) if the proceeds are not goods, to the extent that the secured party identifies the proceeds by a method of tracing, including application of equitable principles, that is permitted under law other than this title with respect to commingled property of the type involved.(c) Perfection of security interest in proceeds. A security interest in proceeds is a perfected security interest if the security interest in the original collateral was perfected.(d) Continuation of perfection. A perfected security interest in proceeds becomes unperfected on the twenty-first day after the security interest attaches to the proceeds unless:(1) the following conditions are satisfied:(A) a filed financing statement covers the original collateral;(B) the proceeds are collateral in which a security interest may be perfected by filing in the office in which the financing statement has been filed; and(C) the proceeds are not acquired with cash proceeds;(2) the proceeds are identifiable cash proceeds; or(3) the security interest in the proceeds is perfected other than under subsection (c) when the security interest attaches to the proceeds or within twenty days thereafter.(e) When perfected security interest in proceeds becomes unperfected. If a filed financing statement covers the original collateral, a security interest in proceeds which remains perfected under subsection (d) (1) becomes unperfected at the later of:(1) when the effectiveness of the filed financing statement lapses under § 8.9A-515 or is terminated under § 8.9A-513; or(2) the twenty-first day after the security interest attaches to the proceeds.1964, c. 219, § 8.9-306; 1973, c. 509; 1983, c. 204; 1996, c. 216; 2000, c. 1007.
VA Code § 8.9A-317 (2021)
2021 Code of Virginia|Title 8.9A - Commercial Code - Secured Transactions|Part 3 - Priority|§ 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 to priority under § 8.9A-322; and(2) except as otherwise provided in subsection (e), a person that becomes a lien creditor before the earlier of the time:(A) the security interest or agricultural lien is perfected; or(B) one of the conditions specified in subdivision (b)(3) of § 8.9A-203 is met and a financing statement covering the collateral is filed.(b) Buyers that receive delivery. Except as otherwise provided in subsection (e), a buyer, other than a secured party, of tangible chattel paper, tangible documents, goods, instruments, or a certificated security takes free of a security interest or agricultural lien if the buyer gives value and receives delivery of the collateral without knowledge of the security interest or agricultural lien and before it is perfected.(c) Lessees that receive delivery. Except as otherwise provided in subsection (e), a lessee of goods takes free of a security interest or agricultural lien if the lessee gives value and receives delivery of the collateral without knowledge of the security interest or agricultural lien and before it is perfected.(d) Licensees and buyers of certain collateral. A licensee of a general intangible or a buyer, other than a secured party, of collateral other than tangible chattel paper, tangible documents, goods, instruments, or a certificated security takes free of a security interest if the licensee or buyer gives value without knowledge of the security interest and before it is perfected.(e) Purchase-money security interest. Except as otherwise provided in §§ 8.9A-320 and 8.9A-321, if a person files a financing statement with respect to a purchase-money security interest before or within twenty days after the debtor receives delivery of the collateral, the security interest takes priority over the rights of a buyer, lessee, or lien creditor which arise between the time the security interest attaches and the time of filing.1964, c. 219, § 8.9-301; 1973, c. 509; 1983, c. 204; 1991, c. 536, § 8.2A-307; 1996, c. 216; 2000, c. 1007; 2004, c. 200; 2012, c. 155.
VA Code § 8.9A-318 (2021)
2021 Code of Virginia|Title 8.9A - Commercial Code - Secured Transactions|Part 3 - Priority|§ 8.9A-318. No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers

(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 equitable interest in the collateral sold.(b) Deemed rights of debtor if buyer's security interest unperfected. For purposes of determining the rights of creditors of, and purchasers for value of an account or chattel paper from, a debtor that has sold an account or chattel paper, while the buyer's security interest is unperfected, the debtor is deemed to have rights and title to the account or chattel paper identical to those the debtor sold.2000, c. 1007.
VA Code § 8.9A-319 (2021)
2021 Code of Virginia|Title 8.9A - Commercial Code - Secured Transactions|Part 3 - Priority|§ 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 of goods from, a consignee, while the goods are in the possession of the consignee, the consignee is deemed to have rights and title to the goods identical to those the consignor had or had power to transfer.(b) Applicability of other law. For purposes of determining the rights of a creditor of a consignee, law other than this title determines the rights and title of a consignee while goods are in the consignee's possession if, under this part, a perfected security interest held by the consignor would have priority over the rights of the creditor.2000, c. 1007.
VA Code § 8.9A-320 (2021)
2021 Code of Virginia|Title 8.9A - Commercial Code - Secured Transactions|Part 3 - Priority|§ 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 buying farm products from a person engaged in farming operations, takes free of a security interest created by the buyer's seller, even if the security interest is perfected and the buyer knows of its existence.(b) Buyer of consumer goods. Except as otherwise provided in subsection (e), a buyer of goods from a person who used or bought the goods for use primarily for personal, family, or household purposes takes free of a security interest, even if perfected, if the buyer buys:(1) without knowledge of the security interest;(2) for value;(3) primarily for the buyer's personal, family, or household purposes; and(4) before the filing of a financing statement covering the goods.(c) Effectiveness of filing for subsection (b). To the extent that it affects the priority of a security interest over a buyer of goods under subsection (b), the period of effectiveness of a filing made in the jurisdiction in which the seller is located is governed by subsections (a) and (b) of § 8.9A-316.(d) Buyer in ordinary course of business at wellhead or minehead. A buyer in ordinary course of business buying oil, gas, or other minerals at the wellhead or minehead or after extraction takes free of an interest arising out of an encumbrance.(e) Possessory security interest not affected. Subsections (a) and (b) do not affect a security interest in goods in the possession of the secured party under § 8.9A-313.Code 1950, §§ 6-558, 55-146; 1956, c. 602; 1964, c. 219, § 8.9-307; 1973, c. 509; 1986, c. 484; 1987, c. 657; 2000, c. 1007.
VA Code § 8.9A-321 (2021)
2021 Code of Virginia|Title 8.9A - Commercial Code - Secured Transactions|Part 3 - Priority|§ 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 general intangible in good faith, without knowledge that the license violates the rights of another person in the general intangible, and in the ordinary course from a person in the business of licensing general intangibles of that kind. A person becomes a licensee in the ordinary course if the license to the person comports with the usual or customary practices in the kind of business in which the licensor is engaged or with the licensor's own usual or customary practices.(b) Rights of licensee in ordinary course of business. A licensee in ordinary course of business takes its rights under a nonexclusive license free of a security interest in the general intangible created by the licensor, even if the security interest is perfected and the licensee knows of its existence.(c) Rights of lessee in ordinary course of business. A lessee in ordinary course of business takes its leasehold interest free of a security interest in the goods created by the lessor, even if the security interest is perfected and the lessee knows of its existence.1991, c. 536, §§ 8.2A-103, 8.2A-307; 2000, c. 1007.
VA Code § 8.9A-323 (2021)
2021 Code of Virginia|Title 8.9A - Commercial Code - Secured Transactions|Part 3 - Priority|§ 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 interest under § 8.9A-322 (a) (1), perfection of the security interest dates from the time an advance is made to the extent that the security interest secures an advance that:(1) is made while the security interest is perfected only:(A) under § 8.9A-309 when it attaches; or(B) temporarily under § 8.9A-312 (e), (f), or (g); and(2) is not made pursuant to a commitment entered into before or while the security interest is perfected by a method other than under § 8.9A-309 or § 8.9A-312 (e), (f), or (g).(b) Lien creditor. Except as otherwise provided in subsection (c), a security interest is subordinate to the rights of a person that becomes a lien creditor to the extent that the security interest secures an advance made more than forty-five days after the person becomes a lien creditor unless the advance is made:(1) without knowledge of the lien; or(2) pursuant to a commitment entered into without knowledge of the lien.(c) Buyer of receivables. Subsections (a) and (b) do not apply to a security interest held by a secured party that is a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor.(d) Buyer of goods. Except as otherwise provided in subsection (e), a buyer of goods other than a buyer in ordinary course of business takes free of a security interest to the extent that it secures advances made after the earlier of:(1) the time the secured party acquires knowledge of the buyer's purchase; or(2) forty-five days after the purchase.(e) Advances made pursuant to commitment; priority of buyer of goods. Subsection (d) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the buyer's purchase and before the expiration of the forty-five day period.(f) Lessee of goods. Except as otherwise provided in subsection (g), a lessee of goods, other than a lessee in ordinary course of business, takes the leasehold interest free of a security interest to the extent that it secures advances made after the earlier of:(1) the time the secured party acquires knowledge of the lease; or(2) forty-five days after the lease contract becomes enforceable.(g) Advances made pursuant to commitment: priority of lessee of goods. Subsection (f) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the lease and before the expiration of the forty-five day period.Code 1950, § 43-27; 1964, c. 219, §§ 8.9-301, 8.9-307, 8.9-312; 1966, c. 557; 1973, c. 509; 1983, c. 204; 1984, c. 613; 1991, c. 536, § 8.2A-307; 1996, c. 216; 2000, c. 1007.
VA Code § 8.9A-325 (2021)
2021 Code of Virginia|Title 8.9A - Commercial Code - Secured Transactions|Part 3 - Priority|§ 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 a security interest in the same collateral created by another person if:(1) the debtor acquired the collateral subject to the security interest created by the other person;(2) the security interest created by the other person was perfected when the debtor acquired the collateral; and(3) there is no period thereafter when the security interest is unperfected.(b) Limitation of subsection (a) subordination. Subsection (a) subordinates a security interest only if the security interest:(1) otherwise would have priority solely under § 8.9A-322 (a) or § 8.9A-324; or(2) arose solely under § 8.2-711 (3) or § 8.2A-508 (5).2000, c. 1007.
VA Code § 8.9A-326 (2021)
2021 Code of Virginia|Title 8.9A - Commercial Code - Secured Transactions|Part 3 - Priority|§ 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 that is created by a new debtor in collateral in which the new debtor has or acquires rights and is perfected by a filed financing statement that would be ineffective to perfect the security interest but for the application of § 8.9A-316(i)(1) or 8.9A-508 is subordinate to a security interest in the same collateral which is perfected other than by such a filed financing statement.(b) Priority under other provisions; multiple original debtors. The other provisions of this part determine the priority among conflicting security interests in the same collateral perfected by filed financing statements described in subsection (a). However, if the security agreements to which a new debtor became bound as debtor were not entered into by the same original debtor, the conflicting security interests rank according to priority in time of the new debtor's having become bound.2000, c. 1007; 2012, c. 155.
VA Code § 8.9A-327 (2021)
2021 Code of Virginia|Title 8.9A - Commercial Code - Secured Transactions|Part 3 - Priority|§ 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 of the deposit account under § 8.9A-104 has priority over a conflicting security interest held by a secured party that does not have control.(2) Except as otherwise provided in paragraphs (3) and (4), security interests perfected by control under § 8.9A-314 rank according to priority in time of obtaining control.(3) Except as otherwise provided in paragraph (4), a security interest held by the bank with which the deposit account is maintained has priority over a conflicting security interest held by another secured party.(4) A security interest perfected by control under § 8.9A-104 (a) (3) has priority over a security interest held by the bank with which the deposit account is maintained.1996, c. 216, § 8.9-115; 2000, c. 1007.