Va. Code § 8.9A-704: Security interest unperfected before effective date
Where this section sits in the code
- Title 8.9A. COMMERCIAL CODE — SECURED TRANSACTIONS
- Part 7. TRANSITION
A security interest that is enforceable immediately before this title takes effect but which would be subordinate to the rights of a person that becomes a lien creditor at that time:(1) remains an enforceable security interest for one year after this takes effect;(2) remains enforceable thereafter if the security interest becomes enforceable under § 8.9A-203 when this title takes effect or within one year thereafter; and(3) becomes perfected:(A) without further action, when this title takes effect if the applicable requirements for perfection under this title are satisfied before or at that time; or(B) when the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.2000, c. 1007.
Collected 2026-09-04T15:13:29Z. Source file · JSON