{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-891.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-891.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-891.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-891.html"}],"law_id":69781,"edition_id":1,"section_id":69781,"structure_id":16492,"section_number":"6.2-891","catch_line":"Perfection of certain security interests","history":"1982, c. 429, \u00a7 6.1-81; 1983, c. 250; 1986, c. 320; 2010, c. 794.","full_text":"When securities are sold by a bank subject to an obligation of repurchase, any security interest or interest of ownership therein may be perfected:\n\n1\n\nAs specified by Title 8.8A or Title 8.9A;2\n\nBy designation to the person holding physical custody thereof, which shall include a person keeping the master records, in case of securities identified by book entry only, that certain securities identified by serial number or dollar amount are held for the benefit of third parties other than the bank, who may, but need not, be identified by name; or3\n\nBy physical separation on the premises of the bank in a separate drawer, compartment, or other facility. The bank may, from time to time, instruct any third party holding such securities that the previously identified securities or an amount of such securities previously identified as pledged or belonging to third parties have been released from such pledge by payment of all or part of the amount due, or have been repurchased. The records of the bank shall identify the persons who are pledgees or owners of such securities. Book-entry securities held in a bank’s customer-safekeeping account, used for the same purpose, at the Federal Reserve Bank, notwithstanding that other customer securities are held in the same account, shall be deemed in compliance with subdivision 2, provided such securities are identified in the bank’s records as required by this section.","order_by":null,"text":{"0":{"id":252190,"text":"When securities are sold by a bank subject to an obligation of repurchase, any security interest or interest of ownership therein may be perfected:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":252191,"text":"As specified by Title 8.8A or Title 8.9A;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":252192,"text":"By designation to the person holding physical custody thereof, which shall include a person keeping the master records, in case of securities identified by book entry only, that certain securities identified by serial number or dollar amount are held for the benefit of third parties other than the bank, who may, but need not, be identified by name; or","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":252193,"text":"By physical separation on the premises of the bank in a separate drawer, compartment, or other facility. The bank may, from time to time, instruct any third party holding such securities that the previously identified securities or an amount of such securities previously identified as pledged or belonging to third parties have been released from such pledge by payment of all or part of the amount due, or have been repurchased. The records of the bank shall identify the persons who are pledgees or owners of such securities. Book-entry securities held in a bank’s customer-safekeeping account, used for the same purpose, at the Federal Reserve Bank, notwithstanding that other customer securities are held in the same account, shall be deemed in compliance with subdivision 2, provided such securities are identified in the bank’s records as required by this section.","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2"}},"ancestry":[{"id":16492,"edition_id":1,"name":"Reserves","identifier":"10","label":"article","depth":4,"order_by":1,"parent_id":13791,"metadata":{},"date_created":"2026-06-26 04:21:02","date_modified":"2026-06-26 04:21:02","permalink":{"id":265101,"object_type":"structure","relational_id":16492,"identifier":"10","token":"6.2\/II\/8\/10","url":"\/6.2\/II\/8\/10\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13791,"edition_id":1,"name":"Banks","identifier":"8","label":"chapter","depth":3,"order_by":1,"parent_id":13000,"metadata":{},"date_created":"2026-06-26 03:45:53","date_modified":"2026-06-26 03:45:53","permalink":{"id":265065,"object_type":"structure","relational_id":13791,"identifier":"8","token":"6.2\/II\/8","url":"\/6.2\/II\/8\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13000,"edition_id":1,"name":"Depository Institutions and Trust Organizations","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12852,"metadata":{},"date_created":"2026-06-26 03:44:07","date_modified":"2026-06-26 03:44:07","permalink":{"id":263685,"object_type":"structure","relational_id":13000,"identifier":"II","token":"6.2\/II","url":"\/6.2\/II\/","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":81272,"structure_id":16492,"section_number":"6.2-889","catch_line":"Required reserves","url":"\/6.2-889\/","token":"6.2\/II\/8\/10\/6.2-889","metadata":false},{"id":83974,"structure_id":16492,"section_number":"6.2-890","catch_line":"Preferences by pledging assets","url":"\/6.2-890\/","token":"6.2\/II\/8\/10\/6.2-890","metadata":false},{"id":69781,"structure_id":16492,"section_number":"6.2-891","catch_line":"Perfection of certain security interests","url":"\/6.2-891\/","token":"6.2\/II\/8\/10\/6.2-891","metadata":false},{"id":74900,"structure_id":16492,"section_number":"6.2-892","catch_line":"Federal deposit insurance a credit towards certain required bonds","url":"\/6.2-892\/","token":"6.2\/II\/8\/10\/6.2-892","metadata":false}],"previous_section":{"id":83974,"structure_id":16492,"section_number":"6.2-890","catch_line":"Preferences by pledging assets","url":"\/6.2-890\/","token":"6.2\/II\/8\/10\/6.2-890","metadata":false},"next_section":{"id":74900,"structure_id":16492,"section_number":"6.2-892","catch_line":"Federal deposit insurance a credit towards certain required bonds","url":"\/6.2-892\/","token":"6.2\/II\/8\/10\/6.2-892","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-891\/","history_text":"

This law was first created in 1982. The record of its establishment is cataloged in chapter 429 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. Unfortunately, the 1982 \u201cActs\u201d aren\u2019t available online. It has been modified 3 times. 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. Those modifications are as follows: in 1983, chapter 250; in 1986, chapter 320; in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":265111,"object_type":"law","relational_id":69781,"identifier":"6.2-891","token":"6.2\/II\/8\/10\/6.2-891","url":"\/6.2-891\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-891\/","token":"6.2\/II\/8\/10\/6.2-891","dublin_core":{"Title":"Perfection of certain security interests","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-891","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

When securities are sold by a bank<\/span> subject to an obligation of repurchase, any security interest or interest of ownership therein may be perfected:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> As specified by Title 8.8A or Title 8.9A; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> By designation to the person<\/span> holding physical custody<\/span> thereof, which shall include a person<\/span> keeping the master records, in case of securities identified by book entry only, that certain securities identified by serial number or dollar amount are held for the benefit of third parties other than the bank<\/span>, who may, but need not, be identified by name; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> By physical separation on the premises of the bank<\/span> in a separate drawer, compartment, or other facility. The bank<\/span> may, from time to time, instruct any third party<\/span> holding such securities that the previously identified securities or an amount of such securities previously identified as pledged or belonging to third parties have been released from such pledge by payment of all or part of the amount due, or have been repurchased. The records of the bank<\/span> shall identify the persons<\/span> who are pledgees or owners of such securities. Book-entry securities held in a bank<\/span>’s customer-safekeeping account, used for the same purpose, at the Federal Reserve Bank<\/span>, notwithstanding that other customer securities are held in the same account, shall be deemed in compliance with subdivision 2, provided such securities are identified in the bank<\/span>’s records as required by this section. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPERFECTION OF CERTAIN SECURITY INTERESTS (\u00a7 6.2-891)\n\nWhen securities are sold by a bank subject to an obligation of repurchase, any\nsecurity interest or interest of ownership therein may be perfected:\n\n1. As specified by Title 8.8A or Title 8.9A;\n\n2. By designation to the person holding physical custody thereof, which shall\ninclude a person keeping the master records, in case of securities identified by\nbook entry only, that certain securities identified by serial number or dollar\namount are held for the benefit of third parties other than the bank, who may,\nbut need not, be identified by name; or\n\n3. By physical separation on the premises of the bank in a separate drawer,\ncompartment, or other facility. The bank may, from time to time, instruct any\nthird party holding such securities that the previously identified securities or\nan amount of such securities previously identified as pledged or belonging to\nthird parties have been released from such pledge by payment of all or part of\nthe amount due, or have been repurchased. The records of the bank shall identify\nthe persons who are pledgees or owners of such securities. Book-entry securities\nheld in a bank’s customer-safekeeping account, used for the same purpose,\nat the Federal Reserve Bank, notwithstanding that other customer securities are\nheld in the same account, shall be deemed in compliance with subdivision 2,\nprovided such securities are identified in the bank’s records as required\nby this section.\n\nHISTORY: 1982, c. 429, \u00a7 6.1-81; 1983, c. 250; 1986, c. 320; 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}}