{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.8A-203.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.8A-203.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.8A-203.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.8A-203.html"}],"law_id":58495,"edition_id":1,"section_id":58495,"structure_id":13974,"section_number":"8.8A-203","catch_line":"Staleness as notice of defect or defense","history":"1996, c. 216.","full_text":"After an act or event, other than a call that has been revoked, creating a right to immediate performance of the principal obligation represented by a certificated security or setting a date on or after which the security is to be presented or surrendered for redemption or exchange, a purchaser is charged with notice of any defect in its issue or defense of the issuer, if the act or event:\n\n1\n\nrequires the payment of money, the delivery of a certificated security, the registration of transfer of an uncertificated security, or any of them on presentation or surrender of the security certificate, the money or security is available on the date set for payment or exchange, and the purchaser takes the security more than one year after that date; or2\n\nis not covered by paragraph (1) and the purchaser takes the security more than two years after the date set for surrender or presentation or the date on which performance became due.","order_by":null,"text":{"0":{"id":214375,"text":"After an act or event, other than a call that has been revoked, creating a right to immediate performance of the principal obligation represented by a certificated security or setting a date on or after which the security is to be presented or surrendered for redemption or exchange, a purchaser is charged with notice of any defect in its issue or defense of the issuer, if the act or event:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":214376,"text":"requires the payment of money, the delivery of a certificated security, the registration of transfer of an uncertificated security, or any of them on presentation or surrender of the security certificate, the money or security is available on the date set for payment or exchange, and the purchaser takes the security more than one year after that date; or","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":214377,"text":"is not covered by paragraph (1) and the purchaser takes the security more than two years after the date set for surrender or presentation or the date on which performance became due.","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1"}},"ancestry":[{"id":13974,"edition_id":1,"name":"Issue and Issuer","identifier":"2","label":"part","depth":2,"order_by":1,"parent_id":13421,"metadata":{},"date_created":"2026-06-26 03:46:28","date_modified":"2026-06-26 03:46:28","permalink":{"id":283679,"object_type":"structure","relational_id":13974,"identifier":"2","token":"8.8A\/2","url":"\/8.8A\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13421,"edition_id":1,"name":"Commercial Code \u2014 Investment Securities","identifier":"8.8A","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:52","date_modified":"2026-06-26 03:44:52","permalink":{"id":283611,"object_type":"structure","relational_id":13421,"identifier":"8.8A","token":"8.8A","url":"\/8.8A\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":78433,"structure_id":13974,"section_number":"8.8A-201","catch_line":"Issuer","url":"\/8.8A-201\/","token":"8.8A\/2\/8.8A-201","metadata":false},{"id":63843,"structure_id":13974,"section_number":"8.8A-202","catch_line":"Issuer's responsibility and defenses; notice of defect or defense","url":"\/8.8A-202\/","token":"8.8A\/2\/8.8A-202","metadata":false},{"id":58495,"structure_id":13974,"section_number":"8.8A-203","catch_line":"Staleness as notice of defect or defense","url":"\/8.8A-203\/","token":"8.8A\/2\/8.8A-203","metadata":false},{"id":64382,"structure_id":13974,"section_number":"8.8A-204","catch_line":"Effect of issuer's restriction on transfer","url":"\/8.8A-204\/","token":"8.8A\/2\/8.8A-204","metadata":false},{"id":71110,"structure_id":13974,"section_number":"8.8A-205","catch_line":"Effect of unauthorized signature on security certificate","url":"\/8.8A-205\/","token":"8.8A\/2\/8.8A-205","metadata":false},{"id":78840,"structure_id":13974,"section_number":"8.8A-206","catch_line":"Completion or alteration of security certificate","url":"\/8.8A-206\/","token":"8.8A\/2\/8.8A-206","metadata":false},{"id":55037,"structure_id":13974,"section_number":"8.8A-207","catch_line":"Rights and duties of issuer with respect to registered owners","url":"\/8.8A-207\/","token":"8.8A\/2\/8.8A-207","metadata":false},{"id":86239,"structure_id":13974,"section_number":"8.8A-208","catch_line":"Effect of signature of authenticating trustee, registrar or transfer agent","url":"\/8.8A-208\/","token":"8.8A\/2\/8.8A-208","metadata":false},{"id":73773,"structure_id":13974,"section_number":"8.8A-209","catch_line":"Issuer's lien","url":"\/8.8A-209\/","token":"8.8A\/2\/8.8A-209","metadata":false},{"id":65945,"structure_id":13974,"section_number":"8.8A-210","catch_line":"Overissue","url":"\/8.8A-210\/","token":"8.8A\/2\/8.8A-210","metadata":false}],"previous_section":{"id":63843,"structure_id":13974,"section_number":"8.8A-202","catch_line":"Issuer's responsibility and defenses; notice of defect or defense","url":"\/8.8A-202\/","token":"8.8A\/2\/8.8A-202","metadata":false},"next_section":{"id":64382,"structure_id":13974,"section_number":"8.8A-204","catch_line":"Effect of issuer's restriction on transfer","url":"\/8.8A-204\/","token":"8.8A\/2\/8.8A-204","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.8A-203\/","history_text":"

This law was first created in 1996. The record of its establishment is cataloged in chapter 216<\/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":false,"refers_to":false,"permalink":{"id":283689,"object_type":"law","relational_id":58495,"identifier":"8.8A-203","token":"8.8A\/2\/8.8A-203","url":"\/8.8A-203\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.8A-203\/","token":"8.8A\/2\/8.8A-203","dublin_core":{"Title":"Staleness as notice of defect or defense","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.8A-203","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

After an act or event, other than a call that has been revoked, creating a right to immediate performance of the principal obligation represented by a certificated security or setting a date on or after which the security is to be presented or surrendered for redemption<\/span> or exchange, a purchaser is charged with notice of any defect in its issue<\/span> or defense of the issuer, if the act or event:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> requires the payment of money, the delivery of a certificated security, the registration of transfer of an uncertificated security, or any of them on presentation or surrender of the security certificate, the money or security is available on the date set for payment or exchange, and the purchaser takes the security more than one year after that date; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> is not covered by paragraph (1) and the purchaser takes the security more than two years after the date set for surrender or presentation or the date on which performance became due. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSTALENESS AS NOTICE OF DEFECT OR DEFENSE (\u00a7 8.8A-203)\n\nAfter an act or event, other than a call that has been revoked, creating a right\nto immediate performance of the principal obligation represented by a\ncertificated security or setting a date on or after which the security is to be\npresented or surrendered for redemption or exchange, a purchaser is charged with\nnotice of any defect in its issue or defense of the issuer, if the act or event:\n\n1. requires the payment of money, the delivery of a certificated security, the\nregistration of transfer of an uncertificated security, or any of them on\npresentation or surrender of the security certificate, the money or security is\navailable on the date set for payment or exchange, and the purchaser takes the\nsecurity more than one year after that date; or\n\n2. is not covered by paragraph (1) and the purchaser takes the security more\nthan two years after the date set for surrender or presentation or the date on\nwhich performance became due.\n\nHISTORY: 1996, c. 216.","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}}