{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-2401.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-2401.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-2401.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-2401.html"}],"law_id":59465,"edition_id":1,"section_id":59465,"structure_id":15586,"section_number":"6.2-2401","catch_line":"Securitization transactions; no interest retained by transferor","history":"2004, c. 600, \u00a7 6.1-473; 2010, c. 794.","full_text":"Notwithstanding any other provision of law, including \u00a7 8.9A-623, to the extent set forth in the transaction documents relating to a securitization transaction:\n\n1\n\nAny property, assets, or rights purported to be transferred, in whole or in part, in the securitization transaction shall be deemed to no longer be the property, assets, or rights of the transferor;2\n\nA transferor in the securitization transaction, its creditors or, in any insolvency proceeding with respect to the transferor or the transferor’s property, a bankruptcy trustee, receiver, debtor, debtor in possession, or similar person, to the extent the issue is governed by the laws of the Commonwealth, shall have no rights, legal or equitable, whatsoever to reacquire, reclaim, recover, repudiate, disaffirm, redeem, or recharacterize as property of the transferor any property, assets, or rights purported to be transferred, in whole or in part, by the transferor; and3\n\nIn the event of a bankruptcy, receivership, or other insolvency proceeding with respect to the transferor or the transferor’s property, to the extent the issue is governed by the laws of the Commonwealth, such property, assets, and rights shall not be deemed to be part of the transferor’s property, assets, rights, or estate.","order_by":null,"text":{"0":{"id":217912,"text":"Notwithstanding any other provision of law, including \u00a7 8.9A-623, to the extent set forth in the transaction documents relating to a securitization transaction:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":217913,"text":"Any property, assets, or rights purported to be transferred, in whole or in part, in the securitization transaction shall be deemed to no longer be the property, assets, or rights of the transferor;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":217914,"text":"A transferor in the securitization transaction, its creditors or, in any insolvency proceeding with respect to the transferor or the transferor’s property, a bankruptcy trustee, receiver, debtor, debtor in possession, or similar person, to the extent the issue is governed by the laws of the Commonwealth, shall have no rights, legal or equitable, whatsoever to reacquire, reclaim, recover, repudiate, disaffirm, redeem, or recharacterize as property of the transferor any property, assets, or rights purported to be transferred, in whole or in part, by the transferor; and","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":217915,"text":"In the event of a bankruptcy, receivership, or other insolvency proceeding with respect to the transferor or the transferor’s property, to the extent the issue is governed by the laws of the Commonwealth, such property, assets, and rights shall not be deemed to be part of the transferor’s property, assets, rights, or estate.","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2"}},"ancestry":[{"id":15586,"edition_id":1,"name":"Securitization Transactions","identifier":"24","label":"chapter","depth":3,"order_by":1,"parent_id":12856,"metadata":{},"date_created":"2026-06-26 03:56:34","date_modified":"2026-06-26 03:56:34","permalink":{"id":267139,"object_type":"structure","relational_id":15586,"identifier":"24","token":"6.2\/IV\/24","url":"\/6.2\/IV\/24\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12856,"edition_id":1,"name":"Other Financial Activities","identifier":"IV","label":"subtitle","depth":2,"order_by":1,"parent_id":12852,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":267075,"object_type":"structure","relational_id":12856,"identifier":"IV","token":"6.2\/IV","url":"\/6.2\/IV\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12852,"edition_id":1,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263249,"object_type":"structure","relational_id":12852,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":62998,"structure_id":15586,"section_number":"6.2-2400","catch_line":"Definition","url":"\/6.2-2400\/","token":"6.2\/IV\/24\/6.2-2400","metadata":false},{"id":59465,"structure_id":15586,"section_number":"6.2-2401","catch_line":"Securitization transactions; no interest retained by transferor","url":"\/6.2-2401\/","token":"6.2\/IV\/24\/6.2-2401","metadata":{"court_decisions":""}},{"id":71128,"structure_id":15586,"section_number":"6.2-2402","catch_line":"Treatment of securitization transactions","url":"\/6.2-2402\/","token":"6.2\/IV\/24\/6.2-2402","metadata":false}],"previous_section":{"id":62998,"structure_id":15586,"section_number":"6.2-2400","catch_line":"Definition","url":"\/6.2-2400\/","token":"6.2\/IV\/24\/6.2-2400","metadata":false},"next_section":{"id":71128,"structure_id":15586,"section_number":"6.2-2402","catch_line":"Treatment of securitization transactions","url":"\/6.2-2402\/","token":"6.2\/IV\/24\/6.2-2402","metadata":false},"metadata":{"court_decisions":""},"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-2401\/","history_text":"

This law was first created in 2004. The record of its establishment is cataloged in chapter 600<\/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. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":[{"id":76014,"section_number":"8.9A-623","catch_line":"Right to redeem collateral","order_by":null,"url":"\/8.9A-623\/"}],"permalink":{"id":267145,"object_type":"law","relational_id":59465,"identifier":"6.2-2401","token":"6.2\/IV\/24\/6.2-2401","url":"\/6.2-2401\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-2401\/","token":"6.2\/IV\/24\/6.2-2401","dublin_core":{"Title":"Securitization transactions; no interest retained by transferor","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-2401","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Notwithstanding any other provision of law<\/span>, including \u00a7 8.9A-623<\/a>, to the extent set forth in the transaction documents relating to a securitization transaction<\/span>:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Any property, assets<\/span>, or rights purported to be transferred, in whole or in part, in the securitization transaction<\/span> shall be deemed to no longer be the property, assets<\/span>, or rights of the transferor; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> A transferor in the securitization transaction<\/span>, its creditors<\/span> or, in any insolvency proceeding with respect to the transferor or the transferor’s property, a bankruptcy trustee<\/span>, receiver, debtor, debtor in possession<\/span>, or similar person<\/span>, to the extent the issue<\/span> is governed by the laws<\/span> of the Commonwealth, shall have no rights, legal or equitable<\/span>, whatsoever to reacquire, reclaim, recover, repudiate, disaffirm, redeem, or recharacterize as property of the transferor any property, assets<\/span>, or rights purported to be transferred, in whole or in part, by the transferor; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> In the event of a bankruptcy, receivership, or other insolvency proceeding with respect to the transferor or the transferor’s property, to the extent the issue<\/span> is governed by the laws<\/span> of the Commonwealth, such property, assets<\/span>, and rights shall not be deemed to be part of the transferor’s property, assets<\/span>, rights, or estate. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSECURITIZATION TRANSACTIONS; NO INTEREST RETAINED BY TRANSFEROR (\u00a7 6.2-2401)\n\nNotwithstanding any other provision of law, including \u00a7 8.9A-623, to the extent\nset forth in the transaction documents relating to a securitization transaction:\n\n1. Any property, assets, or rights purported to be transferred, in whole or in\npart, in the securitization transaction shall be deemed to no longer be the\nproperty, assets, or rights of the transferor;\n\n2. A transferor in the securitization transaction, its creditors or, in any\ninsolvency proceeding with respect to the transferor or the transferor’s\nproperty, a bankruptcy trustee, receiver, debtor, debtor in possession, or\nsimilar person, to the extent the issue is governed by the laws of the\nCommonwealth, shall have no rights, legal or equitable, whatsoever to reacquire,\nreclaim, recover, repudiate, disaffirm, redeem, or recharacterize as property of\nthe transferor any property, assets, or rights purported to be transferred, in\nwhole or in part, by the transferor; and\n\n3. In the event of a bankruptcy, receivership, or other insolvency proceeding\nwith respect to the transferor or the transferor’s property, to the extent\nthe issue is governed by the laws of the Commonwealth, such property, assets,\nand rights shall not be deemed to be part of the transferor’s property,\nassets, rights, or estate.\n\nHISTORY: 2004, c. 600, \u00a7 6.1-473; 2010, c. 794.","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}}