{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/59.1-505.8.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/59.1-505.8.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/59.1-505.8.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/59.1-505.8.html"}],"law_id":70886,"edition_id":1,"section_id":70886,"structure_id":15099,"section_number":"59.1-505.8","catch_line":"Finance licenses","history":"2000, cc. 101, 996.","full_text":"a\n\nIf a financier becomes a licensee in connection with its financial accommodation contract and then transfers its contractual interest under the license, or sublicenses the licensed computer information or informational rights, to a licensee receiving the financial accommodation, the following rules apply:1\n\nThe transfer or sublicense to the accommodated licensee is not effective unless:A\n\nthe transfer or sublicense is effective under § 59.1-505.3; orB\n\nthe following conditions are fulfilled:i\n\nbefore the licensor delivered the information or granted the license to the financier, the licensor received notice in a record from the financier giving the name and location of the accommodated licensee and clearly indicating that the license was being obtained in order to transfer the contractual interest or sublicense the licensed information or informational rights to the accommodated licensee;ii\n\nthe financier became a licensee solely to make the financial accommodation; andiii\n\nthe accommodated licensee adopts the terms of the license, which terms may be supplemented by the financial accommodation contract, to the extent the terms of the financial accommodation contract are not inconsistent with the license and any rights of the licensor under other law.2\n\nA financier that makes a transfer that is effective under paragraph (1) (B) may make only the single transfer or sublicense contemplated by the notice unless the licensor consents to a later transfer.b\n\nIf a financier makes an effective transfer of its contractual interest in a license, or an effective sublicense of the licensed information or informational rights, to an accommodated licensee, the following rules apply:1\n\nThe accommodated licensee’s rights and obligations are governed by:A\n\nthe license;B\n\nany rights of the licensor under other law; andC\n\nto the extent not inconsistent with subparagraphs (A) and (B), the financial accommodation contract, which may impose additional conditions to the licensee’s right to use the licensed information or informational rights.2\n\nThe financier does not make warranties to the accommodated licensee other than the warranty under § 59.1-504.1 (b) (1) and any express warranties in the financial accommodation contract.","order_by":null,"text":{"0":{"id":255592,"text":"If a financier becomes a licensee in connection with its financial accommodation contract and then transfers its contractual interest under the license, or sublicenses the licensed computer information or informational rights, to a licensee receiving the financial accommodation, the following rules apply:","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"a1"},"1":{"id":255593,"text":"The transfer or sublicense to the accommodated licensee is not effective unless:","type":"section","prefixes":["a","1"],"prefix":"1","entire_prefix":"a1","prefix_anchor":"a1","level":2,"prior_prefix":"a","next_prefix":"A"},"2":{"id":255594,"text":"the transfer or sublicense is effective under § 59.1-505.3; or","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"a1","next_prefix":"B"},"3":{"id":255595,"text":"the following conditions are fulfilled:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"i"},"4":{"id":255596,"text":"before the licensor delivered the information or granted the license to the financier, the licensor received notice in a record from the financier giving the name and location of the accommodated licensee and clearly indicating that the license was being obtained in order to transfer the contractual interest or sublicense the licensed information or informational rights to the accommodated licensee;","type":"section","prefixes":["i"],"prefix":"i","entire_prefix":"i","prefix_anchor":"i","level":1,"prior_prefix":"B","next_prefix":"iii"},"5":{"id":255597,"text":"the financier became a licensee solely to make the financial accommodation; and","type":"section","prefixes":["i","ii"],"prefix":"ii","entire_prefix":"iii","prefix_anchor":"iii","level":2,"prior_prefix":"i","next_prefix":"iiii"},"6":{"id":255598,"text":"the accommodated licensee adopts the terms of the license, which terms may be supplemented by the financial accommodation contract, to the extent the terms of the financial accommodation contract are not inconsistent with the license and any rights of the licensor under other law.","type":"section","prefixes":["i","iii"],"prefix":"iii","entire_prefix":"iiii","prefix_anchor":"iiii","level":2,"prior_prefix":"iii","next_prefix":"i2"},"7":{"id":255599,"text":"A financier that makes a transfer that is effective under paragraph (1) (B) may make only the single transfer or sublicense contemplated by the notice unless the licensor consents to a later transfer.","type":"section","prefixes":["i","2"],"prefix":"2","entire_prefix":"i2","prefix_anchor":"i2","level":2,"prior_prefix":"iiii","next_prefix":"b"},"8":{"id":255600,"text":"If a financier makes an effective transfer of its contractual interest in a license, or an effective sublicense of the licensed information or informational rights, to an accommodated licensee, the following rules apply:","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"i2","next_prefix":"b1"},"9":{"id":255601,"text":"The accommodated licensee’s rights and obligations are governed by:","type":"section","prefixes":["b","1"],"prefix":"1","entire_prefix":"b1","prefix_anchor":"b1","level":2,"prior_prefix":"b","next_prefix":"A"},"10":{"id":255602,"text":"the license;","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"b1","next_prefix":"B"},"11":{"id":255603,"text":"any rights of the licensor under other law; and","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"12":{"id":255604,"text":"to the extent not inconsistent with subparagraphs (A) and (B), the financial accommodation contract, which may impose additional conditions to the licensee’s right to use the licensed information or informational rights.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"C2"},"13":{"id":255605,"text":"The financier does not make warranties to the accommodated licensee other than the warranty under § 59.1-504.1 (b) (1) and any express warranties in the financial accommodation contract.","type":"section","prefixes":["C","2"],"prefix":"2","entire_prefix":"C2","prefix_anchor":"C2","level":2,"prior_prefix":"C"}},"ancestry":[{"id":15099,"edition_id":1,"name":"Transfer of Interests and Rights","identifier":"5","label":"article","depth":3,"order_by":1,"parent_id":12900,"metadata":{},"date_created":"2026-06-26 03:52:08","date_modified":"2026-06-26 03:52:08","permalink":{"id":262135,"object_type":"structure","relational_id":15099,"identifier":"5","token":"59.1\/43\/5","url":"\/59.1\/43\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12900,"edition_id":1,"name":"Uniform Computer Information Transactions Act","identifier":"43","label":"chapter","depth":2,"order_by":1,"parent_id":12809,"metadata":{},"date_created":"2026-06-26 03:44:00","date_modified":"2026-06-26 03:44:00","permalink":{"id":261885,"object_type":"structure","relational_id":12900,"identifier":"43","token":"59.1\/43","url":"\/59.1\/43\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12809,"edition_id":1,"name":"Trade and Commerce","identifier":"59.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:54","date_modified":"2026-06-26 03:43:54","permalink":{"id":259521,"object_type":"structure","relational_id":12809,"identifier":"59.1","token":"59.1","url":"\/59.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":78105,"structure_id":15099,"section_number":"59.1-505.1","catch_line":"Ownership of informational rights","url":"\/59.1-505.1\/","token":"59.1\/43\/5\/59.1-505.1","metadata":false},{"id":85215,"structure_id":15099,"section_number":"59.1-505.10","catch_line":"Financing arrangements; remedies or enforcement","url":"\/59.1-505.10\/","token":"59.1\/43\/5\/59.1-505.10","metadata":false},{"id":87452,"structure_id":15099,"section_number":"59.1-505.11","catch_line":"Financing arrangements; effect on licensor's rights","url":"\/59.1-505.11\/","token":"59.1\/43\/5\/59.1-505.11","metadata":false},{"id":74503,"structure_id":15099,"section_number":"59.1-505.12","catch_line":"Reserved","url":"\/59.1-505.12\/","token":"59.1\/43\/5\/59.1-505.12","metadata":false},{"id":80183,"structure_id":15099,"section_number":"59.1-505.2","catch_line":"Title to copy","url":"\/59.1-505.2\/","token":"59.1\/43\/5\/59.1-505.2","metadata":false},{"id":68861,"structure_id":15099,"section_number":"59.1-505.3","catch_line":"Transfer of contractual interest","url":"\/59.1-505.3\/","token":"59.1\/43\/5\/59.1-505.3","metadata":false},{"id":57535,"structure_id":15099,"section_number":"59.1-505.4","catch_line":"Effect of transfer of contractual interest","url":"\/59.1-505.4\/","token":"59.1\/43\/5\/59.1-505.4","metadata":false},{"id":83644,"structure_id":15099,"section_number":"59.1-505.5","catch_line":"Performance by delegate; subcontract","url":"\/59.1-505.5\/","token":"59.1\/43\/5\/59.1-505.5","metadata":false},{"id":79000,"structure_id":15099,"section_number":"59.1-505.6","catch_line":"Transfer by licensee","url":"\/59.1-505.6\/","token":"59.1\/43\/5\/59.1-505.6","metadata":false},{"id":86505,"structure_id":15099,"section_number":"59.1-505.7","catch_line":"Financing if financier does not become licensee","url":"\/59.1-505.7\/","token":"59.1\/43\/5\/59.1-505.7","metadata":false},{"id":70886,"structure_id":15099,"section_number":"59.1-505.8","catch_line":"Finance licenses","url":"\/59.1-505.8\/","token":"59.1\/43\/5\/59.1-505.8","metadata":false},{"id":82662,"structure_id":15099,"section_number":"59.1-505.9","catch_line":"Financing arrangements; obligations irrevocable","url":"\/59.1-505.9\/","token":"59.1\/43\/5\/59.1-505.9","metadata":false}],"previous_section":{"id":86505,"structure_id":15099,"section_number":"59.1-505.7","catch_line":"Financing if financier does not become licensee","url":"\/59.1-505.7\/","token":"59.1\/43\/5\/59.1-505.7","metadata":false},"next_section":{"id":82662,"structure_id":15099,"section_number":"59.1-505.9","catch_line":"Financing arrangements; obligations irrevocable","url":"\/59.1-505.9\/","token":"59.1\/43\/5\/59.1-505.9","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/59.1-505.8\/","history_text":"

This law was first created in 2000. The record of its establishment is cataloged in chapters 101<\/a> and 996<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":85215,"section_number":"59.1-505.10","catch_line":"Financing arrangements; remedies or enforcement","order_by":null,"url":"\/59.1-505.10\/"},{"id":68861,"section_number":"59.1-505.3","catch_line":"Transfer of contractual interest","order_by":null,"url":"\/59.1-505.3\/"},{"id":57535,"section_number":"59.1-505.4","catch_line":"Effect of transfer of contractual interest","order_by":null,"url":"\/59.1-505.4\/"},{"id":79000,"section_number":"59.1-505.6","catch_line":"Transfer by licensee","order_by":null,"url":"\/59.1-505.6\/"}],"refers_to":[{"id":61823,"section_number":"59.1-504.1","catch_line":"Warranty and obligations concerning noninterference and noninfringement","order_by":null,"url":"\/59.1-504.1\/"},{"id":68861,"section_number":"59.1-505.3","catch_line":"Transfer of contractual interest","order_by":null,"url":"\/59.1-505.3\/"}],"permalink":{"id":262177,"object_type":"law","relational_id":70886,"identifier":"59.1-505.8","token":"59.1\/43\/5\/59.1-505.8","url":"\/59.1-505.8\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/59.1-505.8\/","token":"59.1\/43\/5\/59.1-505.8","dublin_core":{"Title":"Finance licenses","Type":"Text","Format":"text\/html","Identifier":"\u00a7 59.1-505.8","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> If a financier becomes a licensee in connection with its financial accommodation contract<\/span> and then transfers its contractual interest under the license, or sublicenses the licensed computer information or informational rights, to a licensee receiving the financial accommodation, the following rules apply: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The transfer or sublicense to the accommodated licensee is not effective unless: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> the transfer or sublicense is effective under § 59.1-505.3<\/a>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> the following conditions are fulfilled: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

i.<\/span> before the licensor delivered the information or granted the license to the financier, the licensor received notice in a record from the financier giving the name and location of the accommodated licensee and clearly indicating that the license was being obtained in order<\/span> to transfer the contractual interest or sublicense the licensed information or informational rights to the accommodated licensee; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

ii.<\/span> the financier became a licensee solely to make the financial accommodation; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

iii.<\/span> the accommodated licensee adopts the terms of the license, which terms may be supplemented by the financial accommodation contract<\/span>, to the extent the terms of the financial accommodation contract<\/span> are not inconsistent with the license and any rights of the licensor under other law<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> A financier that makes a transfer that is effective under paragraph (1) (B) may make only the single transfer or sublicense contemplated by the notice unless the licensor consents to a later transfer. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> If a financier makes an effective transfer of its contractual interest in a license, or an effective sublicense of the licensed information or informational rights, to an accommodated licensee, the following rules apply: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The accommodated licensee’s rights and obligations are governed by: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> the license; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> any rights of the licensor under other law<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> to the extent not inconsistent with subparagraphs (A) and (B), the financial accommodation contract<\/span>, which may impose additional conditions to the licensee’s right to use the licensed information or informational rights. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The financier does not make warranties to the accommodated licensee other than the warranty under § 59.1-504.1<\/a> (b) (1) and any express warranties in the financial accommodation contract<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nFINANCE LICENSES (\u00a7 59.1-505.8)\n\na. If a financier becomes a licensee in connection with its financial\naccommodation contract and then transfers its contractual interest under the\nlicense, or sublicenses the licensed computer information or informational\nrights, to a licensee receiving the financial accommodation, the following rules\napply:\n\n 1. The transfer or sublicense to the accommodated licensee is not effective\n unless:\n\nA. the transfer or sublicense is effective under § 59.1-505.3; or\n\nB. the following conditions are fulfilled:\n\ni. before the licensor delivered the information or granted the license to the\nfinancier, the licensor received notice in a record from the financier giving\nthe name and location of the accommodated licensee and clearly indicating that\nthe license was being obtained in order to transfer the contractual interest or\nsublicense the licensed information or informational rights to the accommodated\nlicensee;\n\n ii. the financier became a licensee solely to make the financial\n accommodation; and\n\n iii. the accommodated licensee adopts the terms of the license, which terms\n may be supplemented by the financial accommodation contract, to the extent the\n terms of the financial accommodation contract are not inconsistent with the\n license and any rights of the licensor under other law.\n\n 2. A financier that makes a transfer that is effective under paragraph (1) (B)\n may make only the single transfer or sublicense contemplated by the notice\n unless the licensor consents to a later transfer.\n\nb. If a financier makes an effective transfer of its contractual interest in a\nlicense, or an effective sublicense of the licensed information or informational\nrights, to an accommodated licensee, the following rules apply:\n\n 1. The accommodated licensee’s rights and obligations are governed by:\n\nA. the license;\n\nB. any rights of the licensor under other law; and\n\nC. to the extent not inconsistent with subparagraphs (A) and (B), the financial\naccommodation contract, which may impose additional conditions to the\nlicensee’s right to use the licensed information or informational rights.\n\n 2. The financier does not make warranties to the accommodated licensee other\n than the warranty under § 59.1-504.1 (b) (1) and any express warranties\n in the financial accommodation contract.\n\nHISTORY: 2000, cc. 101, 996.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}