{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.9A-102.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.9A-102.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.9A-102.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.9A-102.html"}],"law_id":58431,"edition_id":1,"section_id":58431,"structure_id":15319,"section_number":"8.9A-102","catch_line":"Definitions and index of definitions","history":"1964, c. 219, \u00a7\u00a7 8.2-326, 8.9-105, 8.9-106, 8.9-109, 8.9-115, 8.9-301, 8.9-306; 1966, c. 394; 1973, c. 509; 1983, c. 204; 1984, c. 613; 1996, cc. 77, 216; 1997, c. 343; 2000, c. 1007; 2003, c. 353; 2004, c. 200; 2012, c. 155; 2024, c. 652.","full_text":"a\n\nTitle 8.9A definitions. In this title:1\n\n“Accession” means goods that are physically united with other goods in such a manner that the identity of the original goods is not lost.2\n\n“Account,” except as used in “account for,” “account statement,” “account to,” “commodity account” in paragraph (14), “customer’s account,” “deposit account” in paragraph (29), “on account of,” and “statement of account,” means a right to payment of a monetary obligation, whether or not earned by performance, (i) for property that has been or is to be sold, leased, licensed, assigned, or otherwise disposed of, (ii) for services rendered or to be rendered, (iii) for a policy of insurance issued or to be issued, (iv) for a secondary obligation incurred or to be incurred, (v) for energy provided or to be provided, (vi) for the use or hire of a vessel under a charter or other contract, (vii) arising out of the use of a credit or charge card or information contained on or for use with the card, or (viii) health-care-insurance receivables. The term includes controllable accounts. The term does not include (i) chattel paper, (ii) commercial tort claims, (iii) deposit accounts, (iv) investment property, (v) letter-of-credit rights or letters of credit, (vi) rights to payment for money or funds advanced or sold, other than rights arising out of the use of a credit or charge card or information contained on or for use with the card, or (vii) rights to payment evidenced by an instrument.3\n\n“Account debtor” means a person obligated on an account, chattel paper, or general intangible. The term does not include persons obligated to pay a negotiable instrument, even if the negotiable instrument evidences chattel paper.4\n\n“Accounting,” except as used in “accounting for,” means a record:A\n\nsigned by a secured party;B\n\nindicating the aggregate unpaid secured obligations as of a date not more than 35 days earlier or 35 days later than the date of the record; andC\n\nidentifying the components of the obligations in reasonable detail.5\n\n“Agricultural lien” means an interest, other than a security interest, in farm products:A\n\nwhich secures payment or performance of an obligation for:i\n\ngoods or services furnished in connection with a debtor’s farming operation; orii\n\nrent on real property leased by a debtor in connection with its farming operation;B\n\nwhich is created by statute in favor of a person that:i\n\nin the ordinary course of its business furnished goods or services to a debtor in connection with a debtor’s farming operation; orii\n\nleased real property to a debtor in connection with the debtor’s farming operation; andC\n\nwhose effectiveness does not depend on the person’s possession of the personal property.6\n\n“As-extracted collateral” means:A\n\noil, gas, or other minerals that are subject to a security interest that:i\n\nis created by a debtor having an interest in the minerals before extraction; andii\n\nattaches to the minerals as extracted; orB\n\naccounts arising out of the sale at the wellhead or minehead of oil, gas, or other minerals in which the debtor had an interest before extraction.7\n\n[Reserved.]7A\n\n“Assignee,” except as used in “assignee for benefit of creditors,” means a person (i) in whose favor a security interest that secures an obligation is created or provided for under a security agreement, whether or not the obligation is outstanding or (ii) to which an account, chattel paper, payment intangible, or promissory note has been sold. The term includes a person to which a security interest has been transferred by a secured party.7B\n\n“Assignor” means a person that (i) under a security agreement creates or provides for a security interest that secures an obligation or (ii) sells an account, chattel paper, payment intangible, or promissory note. The term includes a secured party that has transferred a security interest to another person.8\n\n“Bank” means an organization that is engaged in the business of banking. The term includes savings banks, savings and loan associations, credit unions, and trust companies.9\n\n“Cash proceeds” means proceeds that are money, checks, deposit accounts, or the like.10\n\n“Certificate of title” means a certificate of title with respect to which a statute provides for the security interest in question to be indicated on the certificate as a condition or result of the security interest’s obtaining priority over the rights of a lien creditor with respect to the collateral. The term includes another record maintained as an alternative to a certificate of title by the governmental unit that issues certificates of title if a statute permits the security interest in question to be indicated on the record as a condition or result of the security interest’s obtaining priority over the rights of a lien creditor with respect to the collateral.11\n\n“Chattel paper” means:A\n\na right to payment of a monetary obligation secured by specific goods, if the right to payment and security agreement are evidenced by a record; orB\n\na right to payment of a monetary obligation owed by a lessee under a lease agreement with respect to specific goods and a monetary obligation owed by the lessee in connection with the transaction giving rise to the lease, if:i\n\nthe right to payment and lease agreement are evidenced by a record; andii\n\nthe predominant purpose of the transaction giving rise to the lease was to give the lessee the right to possession and use of the goods.\n\t\t\t\tThe term does not include a right to payment arising out of a charter or other contract involving the use or hire of a vessel or a right to payment arising out of the use of a credit or charge card or information contained on or for use with the card.12\n\n“Collateral” means the property subject to a security interest or agricultural lien. The term includes:A\n\nproceeds to which a security interest attaches;B\n\naccounts, chattel paper, payment intangibles, and promissory notes that have been sold; andC\n\ngoods that are the subject of a consignment.13\n\n“Commercial tort claim” means a claim arising in tort with respect to which:A\n\nthe claimant is an organization; orB\n\nthe claimant is an individual and the claim:i\n\narose in the course of the claimant’s business or profession; andii\n\ndoes not include damages arising out of personal injury to or the death of an individual.14\n\n“Commodity account” means an account maintained by a commodity intermediary in which a commodity contract is carried for a commodity customer.15\n\n“Commodity contract” means a commodity futures contract, an option on a commodity futures contract, a commodity option, or another contract if the contract or option is:A\n\ntraded on or subject to the rules of a board of trade that has been designated as a contract market for such a contract pursuant to federal commodities laws; orB\n\ntraded on a foreign commodity board of trade, exchange, or market, and is carried on the books of a commodity intermediary for a commodity customer.16\n\n“Commodity customer” means a person for which a commodity intermediary carries a commodity contract on its books.17\n\n“Commodity intermediary” means a person that:A\n\nis registered as a futures commission merchant under federal commodities law; orB\n\nin the ordinary course of its business provides clearance or settlement services for a board of trade that has been designated as a contract market pursuant to federal commodities law.18\n\n“Communicate” means:A\n\nto send a written or other tangible record;B\n\nto transmit a record by any means agreed upon by the persons sending and receiving the record; orC\n\nin the case of transmission of a record to or by a filing office, to transmit a record by any means prescribed by filing-office rule.19\n\n“Consignee” means a merchant to which goods are delivered in a consignment.20\n\n“Consignment” means a transaction, regardless of its form, in which a person delivers goods to a merchant for the purpose of sale and:A\n\nthe merchant:i\n\ndeals in goods of that kind under a name other than the name of the person making delivery;ii\n\nis not an auctioneer; andiii\n\nis not generally known by its creditors to be substantially engaged in selling the goods of others;B\n\nwith respect to each delivery, the aggregate value of the goods is $1,000 or more at the time of delivery;C\n\nthe goods are not consumer goods immediately before delivery; andD\n\nthe transaction does not create a security interest that secures an obligation.21\n\n“Consignor” means a person that delivers goods to a consignee in a consignment.22\n\n“Consumer debtor” means a debtor in a consumer transaction.23\n\n“Consumer goods” means goods that are used or bought for use primarily for personal, family, or household purposes.24\n\n“Consumer-goods transaction” means a consumer transaction in which:A\n\nan individual incurs an obligation primarily for personal, family, or household purposes; andB\n\na security interest in consumer goods secures the obligation.25\n\n“Consumer obligor” means an obligor who is an individual and who incurred the obligation as part of a transaction entered into primarily for personal, family, or household purposes.26\n\n“Consumer transaction” means a transaction in which (i) an individual incurs an obligation primarily for personal, family, or household purposes, (ii) a security interest secures the obligation, and (iii) the collateral is held or acquired primarily for personal, family, or household purposes. The term includes consumer-goods transactions.27\n\n“Continuation statement” means an amendment of a financing statement which:A\n\nidentifies, by its file number, the initial financing statement to which it relates; andB\n\nindicates that it is a continuation statement for, or that it is filed to continue the effectiveness of, the identified financing statement.27A\n\n“Controllable account” means an account evidenced by a controllable electronic record that provides that the account debtor undertakes to pay the person that has control under § 8.12-105 of the controllable electronic record.27B\n\n“Controllable payment intangible” means a payment intangible evidenced by a controllable electronic record that provides that the account debtor undertakes to pay the person that has control under § 8.12-105 of the controllable electronic record.28\n\n“Debtor” means:A\n\na person having an interest, other than a security interest or other lien, in the collateral, whether or not the person is an obligor;B\n\na seller of accounts, chattel paper, payment intangibles, or promissory notes; orC\n\na consignee.29\n\n“Deposit account” means a demand, time, savings, passbook, or similar account maintained with a bank. The term does not include investment property or accounts evidenced by an instrument.30\n\n“Document” means a document of title or a receipt of the type described in subdivision (2) of § 8.7-201.31\n\n[Reserved.]31A\n\n“Electronic money” means money in an electronic form.32\n\n“Encumbrance” means a right, other than an ownership interest, in real property. The term includes mortgages and other liens on real property.33\n\n“Equipment” means goods other than inventory, farm products, or consumer goods.34\n\n“Farm products” means goods, other than standing timber, with respect to which the debtor is engaged in a farming operation and which are:A\n\ncrops grown, growing, or to be grown, including:i\n\ncrops produced on trees, vines, and bushes; andii\n\naquatic goods produced in aquacultural operations;B\n\nlivestock, born or unborn, including aquatic goods produced in aquacultural operations;C\n\nsupplies used or produced in a farming operation; orD\n\nproducts of crops or livestock in their unmanufactured states.35\n\n“Farming operation” means raising, cultivating, propagating, fattening, grazing, or any other farming, livestock, or aquacultural operation.36\n\n“File number” means the number assigned to an initial financing statement pursuant to subsection (a) of § 8.9A-519.37\n\n“Filing office” means an office designated in § 8.9A-501 as the place to file a financing statement.38\n\n“Filing-office rule” means a rule adopted pursuant to § 8.9A-526.39\n\n“Financing statement” means a record or records composed of an initial financing statement and any filed record relating to the initial financing statement.40\n\n“Fixture filing” means the filing of a financing statement covering goods that are or are to become fixtures and satisfying subsections (a) and (b) of § 8.9A-502. The term includes the filing of a financing statement covering goods of a transmitting utility which are or are to become fixtures.41\n\n“Fixtures” means goods that have become so related to particular real property that an interest in them arises under real property law.42\n\n“General intangible” means any personal property, including things in action, other than accounts, chattel paper, commercial tort claims, deposit accounts, documents, goods, instruments, investment property, letter-of-credit rights, letters of credit, money, and oil, gas, or other minerals before extraction. The term includes controllable electronic records, payment intangibles, and software.43\n\n“Good faith” means honesty in fact and the observance of reasonable commercial standards of fair dealing.44\n\n“Goods” means all things that are movable when a security interest attaches. The term includes (i) fixtures, (ii) standing timber that is to be cut and removed under a conveyance or contract for sale, (iii) the unborn young of animals, (iv) crops grown, growing, or to be grown, even if the crops are produced on trees, vines, or bushes, and (v) manufactured homes. The term also includes a computer program embedded in goods and any supporting information provided in connection with a transaction relating to the program if (i) the program is associated with the goods in such a manner that it customarily is considered part of the goods or (ii) by becoming the owner of the goods, a person acquires a right to use the program in connection with the goods. The term does not include a computer program embedded in goods that consist solely of the medium in which the program is embedded. The term also does not include accounts, chattel paper, commercial tort claims, deposit accounts, documents, general intangibles, instruments, investment property, letter-of-credit rights, letters of credit, money, or oil, gas, or other minerals before extraction.45\n\n“Governmental unit” means a subdivision, agency, department, county, parish, municipality, or other unit of the government of the United States, a State, or a foreign country. The term includes an organization having a separate corporate existence if the organization is eligible to issue debt on which interest is exempt from income taxation under the laws of the United States.46\n\n“Health-care-insurance receivable” means an interest in or claim under a policy of insurance which is a right to payment of a monetary obligation for health-care goods or services provided.47\n\n“Instrument” means a negotiable instrument or any other writing that evidences a right to the payment of a monetary obligation, is not itself a security agreement or lease, and is of a type that in ordinary course of business is transferred by delivery with any necessary endorsement or assignment. The term does not include (i) investment property, (ii) letters of credit, (iii) writings that evidence a right to payment arising out of the use of a credit or charge card or information contained on or for use with the card, or (iv) writings that evidence chattel paper.48\n\n“Inventory” means goods, other than farm products, which:A\n\nare leased by a person as lessor;B\n\nare held by a person for sale or lease or to be furnished under a contract of service;C\n\nare furnished by a person under a contract of service; orD\n\nconsist of raw materials, work in process, or materials used or consumed in a business.49\n\n“Investment property” means a security, whether certificated or uncertificated, security entitlement, securities account, commodity contract, or commodity account.50\n\n“Jurisdiction of organization,” with respect to a registered organization, means the jurisdiction under whose law the organization is formed or organized.51\n\n“Letter-of-credit right” means a right to payment or performance under a letter of credit, whether or not the beneficiary has demanded or is at the time entitled to demand payment or performance. The term does not include the right of a beneficiary to demand payment or performance under a letter of credit.52\n\n“Lien creditor” means:A\n\na creditor that has acquired a lien on the property involved by attachment, levy, or the like;B\n\nan assignee for benefit of creditors from the time of assignment;C\n\na trustee in bankruptcy from the date of the filing of the petition; orD\n\na receiver in equity from the time of appointment.53\n\n“Manufactured home” means a structure, transportable in one or more sections, which, in the traveling mode, is eight body feet or more in width or 40 body feet or more in length, or, when erected on site, is 320 or more square feet, and which is built on a permanent chassis and designed to be used as a dwelling with or without a permanent foundation when connected to the required utilities, and includes the plumbing, heating, air-conditioning, and electrical systems contained therein. The term includes any structure that meets all of the requirements of this paragraph except the size requirements and with respect to which the manufacturer voluntarily files a certification required by the United States Secretary of Housing and Urban Development and complies with the standards established under Title 42 of the United States Code.54\n\n“Manufactured-home transaction” means a secured transaction:A\n\nthat creates a purchase-money security interest in a manufactured home, other than a manufactured home held as inventory; orB\n\nin which a manufactured home, other than a manufactured home held as inventory, is the primary collateral.54A\n\n“Money” has the meaning in § 8.1A-102(b)(24), but does not include (i) a deposit account or (ii) money in an electronic form that cannot be subjected to control under § 8.9A-105.155\n\n“Mortgage” means a consensual interest in real property, including fixtures, which secures payment or performance of an obligation.56\n\n“New debtor” means a person that becomes bound as debtor under subsection (d) of § 8.9A-203 by a security agreement previously entered into by another person.57\n\n“New value” means (i) money, (ii) money’s worth in property, services, or new credit, or (iii) release by a transferee of an interest in property previously transferred to the transferee. The term does not include an obligation substituted for another obligation.58\n\n“Noncash proceeds” means proceeds other than cash proceeds.59\n\n“Obligor” means a person that, with respect to an obligation secured by a security interest in or an agricultural lien on the collateral, (i) owes payment or other performance of the obligation, (ii) has provided property other than the collateral to secure payment or other performance of the obligation, or (iii) is otherwise accountable in whole or in part for payment or other performance of the obligation. The term does not include issuers or nominated persons under a letter of credit.60\n\n“Original debtor,” except as used in subsection (c) of § 8.9A-310, means a person that, as debtor, entered into a security agreement to which a new debtor has become bound under subsection (d) of § 8.9A-203.61\n\n“Payment intangible” means a general intangible under which the account debtor’s principal obligation is a monetary obligation. The term includes a controllable payment intangible.62\n\n“Person related to,” with respect to an individual, means:A\n\nthe spouse of the individual;B\n\na brother, brother-in-law, sister, or sister-in-law of the individual;C\n\nan ancestor or lineal descendant of the individual or the individual’s spouse; orD\n\nany other relative, by blood or marriage, of the individual or the individual’s spouse who shares the same home with the individual.63\n\n“Person related to,” with respect to an organization, means:A\n\na person directly or indirectly controlling, controlled by, or under common control with the organization;B\n\nan officer or director of, or a person performing similar functions with respect to, the organization;C\n\nan officer or director of, or a person performing similar functions with respect to, a person described in subparagraph (A);D\n\nthe spouse of an individual described in subparagraph (A), (B), or (C); orE\n\nan individual who is related by blood or marriage to an individual described in subparagraph (A), (B), (C), or (D) and shares the same home with the individual.64\n\n“Proceeds,” except as used in subsection (b) of § 8.9A-609, means the following property:A\n\nwhatever is acquired upon the sale, lease, license, exchange, or other disposition of collateral;B\n\nwhatever is collected on, or distributed on account of, collateral;C\n\nrights arising out of collateral;D\n\nto the extent of the value of collateral, claims arising out of the loss, nonconformity, or interference with the use of, defects or infringement of rights in, or damage to, the collateral; orE\n\nto the extent of the value of collateral and to the extent payable to the debtor or the secured party, insurance payable by reason of the loss or nonconformity of, defects or infringement of rights in, or damage to, the collateral.65\n\n“Promissory note” means an instrument that evidences a promise to pay a monetary obligation, does not evidence an order to pay, and does not contain an acknowledgment by a bank that the bank has received for deposit a sum of money or funds.66\n\n“Proposal” means a record signed by a secured party which includes the terms on which the secured party is willing to accept collateral in full or partial satisfaction of the obligation it secures pursuant to §§ 8.9A-620, 8.9A-621, and 8.9A-622.67\n\n“Public-finance transaction” means a secured transaction in connection with which:A\n\ndebt securities are issued;B\n\nall or a portion of the securities issued have an initial stated maturity of at least 20 years; andC\n\nthe debtor, obligor, secured party, account debtor or other person obligated on collateral, assignor or assignee of a secured obligation, or assignor or assignee of a security interest is a state or a governmental unit of a state.68\n\n“Public organic record” means a record that is available to the public for inspection and that is:A\n\na record consisting of the record initially filed with or issued by a state or the United States to form or organize an organization and any record filed with or issued by the state or the United States which amends or restates the initial record;B\n\nan organic record of a business trust consisting of the record initially filed with a state and any record filed with the state which amends or restates the initial record, if a statute of the state governing business trusts requires that the record be filed with the state; orC\n\na record consisting of legislation enacted by the legislature of a state or the Congress of the United States which forms or organizes an organization, any record amending the legislation, and any record filed with or issued by the state or the United States which amends or restates the name of the organization.69\n\n“Pursuant to commitment,” with respect to an advance made or other value given by a secured party, means pursuant to the secured party’s obligation, whether or not a subsequent event of default or other event not within the secured party’s control has relieved or may relieve the secured party from its obligation.70\n\n“Record,” except as used in “for record,” “of record,” “record or legal title,” and “record owner,” means information that is inscribed on a tangible medium or which is stored in an electronic or other medium and is retrievable in perceivable form.71\n\n“Registered organization” means an organization formed or organized solely under the law of a single state or the United States by the filing of a public organic record with, the issuance of a public organic record by, or the enactment of legislation by the state or the United States. The term includes a business trust that is formed or organized under the law of a single state if a statute of the state governing business trusts requires that the business trust’s organic record be filed with the state.72\n\n“Secondary obligor” means an obligor to the extent that:A\n\nthe obligor’s obligation is secondary; orB\n\nthe obligor has a right of recourse with respect to an obligation secured by collateral against the debtor, another obligor, or property of either.73\n\n“Secured party” means:A\n\na person in whose favor a security interest is created or provided for under a security agreement, whether or not any obligation to be secured is outstanding;B\n\na person that holds an agricultural lien;C\n\na consignor;D\n\na person to which accounts, chattel paper, payment intangibles, or promissory notes have been sold;E\n\na trustee, indenture trustee, agent, collateral agent, or other representative in whose favor a security interest or agricultural lien is created or provided for; orF\n\na person that holds a security interest arising under \u00a7 8.2-401, 8.2-505, 8.2-711 (3), 8.2A-508 (5), 8.4-210, or 8.5A-118.74\n\n“Security agreement” means an agreement that creates or provides for a security interest.75\n\n[Reserved.]76\n\n“Software” means a computer program and any supporting information provided in connection with a transaction relating to the program. The term does not include a computer program that is included in the definition of goods.77\n\n“State” means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States.78\n\n“Supporting obligation” means a letter of credit right or secondary obligation that supports the payment or performance of an account, chattel paper, a document, a general intangible, an instrument, or investment property.79\n\n[Reserved.]79A\n\n“Tangible money” means money in a tangible form.80\n\n“Termination statement” means an amendment of a financing statement which:A\n\nidentifies, by its file number, the initial financing statement to which it relates; andB\n\nindicates either that it is a termination statement or that the identified financing statement is no longer effective.81\n\n“Transmitting utility” means a person primarily engaged in the business of:A\n\noperating a railroad, subway, street railway, or trolley bus;B\n\ntransmitting communications electrically, electromagnetically, or by light;C\n\ntransmitting goods by pipeline or sewer; orD\n\ntransmitting or producing and transmitting electricity, steam, gas, or water.b\n\nDefinitions in other titles. The following definitions in other titles apply to this title:\n\t\t\t“Applicant” § 8.5A-102.\n\t\t\t“Beneficiary” § 8.5A-102.\n\t\t\t“Broker” § 8.8A-102.\n\t\t\t“Certificated security” § 8.8A-102.\n\t\t\t“Check” § 8.3A-104.\n\t\t\t“Clearing corporation” § 8.8A-102.\n\t\t\t“Contract for sale” § 8.2-106.\n\t\t\t“Control” § 8.7-106.\n\t\t\t“Controllable electronic record” § 8.12-102.\n\t\t\t“Customer” § 8.4-104.\n\t\t\t“Entitlement holder” § 8.8A-102.\n\t\t\t“Financial asset” § 8.8A-102.\n\t\t\t“Holder in due course” § 8.3A-302.\n\t\t\t“Issuer” (with respect to a letter of credit or letter-of-credit right) § 8.5A-102.\n\t\t\t“Issuer” (with respect to a security) § 8.8A-201.\n\t\t\t“Issuer” (with respect to documents of title) § 8.7-102.\n\t\t\t“Lease” § 8.2A-103.\n\t\t\t“Lease agreement” § 8.2A-103.\n\t\t\t“Lease contract” § 8.2A-103.\n\t\t\t“Leasehold interest” § 8.2A-103.\n\t\t\t“Lessee” § 8.2A-103.\n\t\t\t“Lessee in ordinary course of business” § 8.2A-103.\n\t\t\t“Lessor” § 8.2A-103.\n\t\t\t“Lessor’s residual interest” § 8.2A-103.\n\t\t\t“Letter of credit” § 8.5A-102.\n\t\t\t“Merchant” § 8.2-104.\n\t\t\t“Negotiable instrument” § 8.3A-104.\n\t\t\t“Nominated person” § 8.5A-102.\n\t\t\t“Note” § 8.3A-104.\n\t\t\t“Proceeds of a letter of credit” § 8.5A-114.\n\t\t\t“Protected purchaser” § 8.8A-303.\n\t\t\t“Prove” § 8.3A-103.\n\t\t\t“Qualifying purchaser” § 8.12-102.\n\t\t\t“Sale” § 8.2-106.\n\t\t\t“Securities account” § 8.8A-501.\n\t\t\t“Securities intermediary” § 8.8A-102.\n\t\t\t“Security” § 8.8A-102.\n\t\t\t“Security certificate” § 8.8A-102.\n\t\t\t“Security entitlement” § 8.8A-102.\n\t\t\t“Uncertificated security” § 8.8A-102.c\n\nTitle 8.1A definitions and principles. Title 8.1A contains general definitions and principles of construction and interpretation applicable throughout this title.","order_by":null,"text":{"0":{"id":213962,"text":"Title 8.9A definitions. In this title:","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"a1"},"1":{"id":213963,"text":"“Accession” means goods that are physically united with other goods in such a manner that the identity of the original goods is not lost.","type":"section","prefixes":["a","1"],"prefix":"1","entire_prefix":"a1","prefix_anchor":"a1","level":2,"prior_prefix":"a","next_prefix":"a2"},"2":{"id":213964,"text":"“Account,” except as used in “account for,” “account statement,” “account to,” “commodity account” in paragraph (14), “customer’s account,” “deposit account” in paragraph (29), “on account of,” and “statement of account,” means a right to payment of a monetary obligation, whether or not earned by performance, (i) for property that has been or is to be sold, leased, licensed, assigned, or otherwise disposed of, (ii) for services rendered or to be rendered, (iii) for a policy of insurance issued or to be issued, (iv) for a secondary obligation incurred or to be incurred, (v) for energy provided or to be provided, (vi) for the use or hire of a vessel under a charter or other contract, (vii) arising out of the use of a credit or charge card or information contained on or for use with the card, or (viii) health-care-insurance receivables. The term includes controllable accounts. The term does not include (i) chattel paper, (ii) commercial tort claims, (iii) deposit accounts, (iv) investment property, (v) letter-of-credit rights or letters of credit, (vi) rights to payment for money or funds advanced or sold, other than rights arising out of the use of a credit or charge card or information contained on or for use with the card, or (vii) rights to payment evidenced by an instrument.","type":"section","prefixes":["a","2"],"prefix":"2","entire_prefix":"a2","prefix_anchor":"a2","level":2,"prior_prefix":"a1","next_prefix":"a3"},"3":{"id":213965,"text":"“Account debtor” means a person obligated on an account, chattel paper, or general intangible. The term does not include persons obligated to pay a negotiable instrument, even if the negotiable instrument evidences chattel paper.","type":"section","prefixes":["a","3"],"prefix":"3","entire_prefix":"a3","prefix_anchor":"a3","level":2,"prior_prefix":"a2","next_prefix":"a4"},"4":{"id":213966,"text":"“Accounting,” except as used in “accounting for,” means a record:","type":"section","prefixes":["a","4"],"prefix":"4","entire_prefix":"a4","prefix_anchor":"a4","level":2,"prior_prefix":"a3","next_prefix":"A"},"5":{"id":213967,"text":"signed by a secured party;","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"a4","next_prefix":"B"},"6":{"id":213968,"text":"indicating the aggregate unpaid secured obligations as of a date not more than 35 days earlier or 35 days later than the date of the record; and","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"7":{"id":213969,"text":"identifying the components of the obligations in reasonable detail.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"C5"},"8":{"id":213970,"text":"“Agricultural lien” means an interest, other than a security interest, in farm products:","type":"section","prefixes":["C","5"],"prefix":"5","entire_prefix":"C5","prefix_anchor":"C5","level":2,"prior_prefix":"C","next_prefix":"A"},"9":{"id":213971,"text":"which secures payment or performance of an obligation for:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"C5","next_prefix":"i"},"10":{"id":213972,"text":"goods or services furnished in connection with a debtor’s farming operation; or","type":"section","prefixes":["i"],"prefix":"i","entire_prefix":"i","prefix_anchor":"i","level":1,"prior_prefix":"A","next_prefix":"iii"},"11":{"id":213973,"text":"rent on real property leased by a debtor in connection with its farming operation;","type":"section","prefixes":["i","ii"],"prefix":"ii","entire_prefix":"iii","prefix_anchor":"iii","level":2,"prior_prefix":"i","next_prefix":"B"},"12":{"id":213974,"text":"which is created by statute in favor of a person that:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"iii","next_prefix":"i"},"13":{"id":213975,"text":"in the ordinary course of its business furnished goods or services to a debtor in connection with a debtor’s farming operation; or","type":"section","prefixes":["i"],"prefix":"i","entire_prefix":"i","prefix_anchor":"i","level":1,"prior_prefix":"B","next_prefix":"iii"},"14":{"id":213976,"text":"leased real property to a debtor in connection with the debtor’s farming operation; and","type":"section","prefixes":["i","ii"],"prefix":"ii","entire_prefix":"iii","prefix_anchor":"iii","level":2,"prior_prefix":"i","next_prefix":"C"},"15":{"id":213977,"text":"whose effectiveness does not depend on the person’s possession of the personal property.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"iii","next_prefix":"C6"},"16":{"id":213978,"text":"“As-extracted collateral” means:","type":"section","prefixes":["C","6"],"prefix":"6","entire_prefix":"C6","prefix_anchor":"C6","level":2,"prior_prefix":"C","next_prefix":"A"},"17":{"id":213979,"text":"oil, gas, or other minerals that are subject to a security interest that:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"C6","next_prefix":"i"},"18":{"id":213980,"text":"is created by a debtor having an interest in the minerals before extraction; and","type":"section","prefixes":["i"],"prefix":"i","entire_prefix":"i","prefix_anchor":"i","level":1,"prior_prefix":"A","next_prefix":"iii"},"19":{"id":213981,"text":"attaches to the minerals as extracted; or","type":"section","prefixes":["i","ii"],"prefix":"ii","entire_prefix":"iii","prefix_anchor":"iii","level":2,"prior_prefix":"i","next_prefix":"B"},"20":{"id":213982,"text":"accounts arising out of the sale at the wellhead or minehead of oil, gas, or other minerals in which the debtor had an interest before extraction.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"iii","next_prefix":"B7"},"21":{"id":213983,"text":"[Reserved.]","type":"section","prefixes":["B","7"],"prefix":"7","entire_prefix":"B7","prefix_anchor":"B7","level":2,"prior_prefix":"B","next_prefix":"B77A"},"22":{"id":213984,"text":"“Assignee,” except as used in “assignee for benefit of creditors,” means a person (i) in whose favor a security interest that secures an obligation is created or provided for under a security agreement, whether or not the obligation is outstanding or (ii) to which an account, chattel paper, payment intangible, or promissory note has been sold. The term includes a person to which a security interest has been transferred by a secured party.","type":"section","prefixes":["B","7","7A"],"prefix":"7A","entire_prefix":"B77A","prefix_anchor":"B77A","level":3,"prior_prefix":"B7","next_prefix":"B77B"},"23":{"id":213985,"text":"“Assignor” means a person that (i) under a security agreement creates or provides for a security interest that secures an obligation or (ii) sells an account, chattel paper, payment intangible, or promissory note. The term includes a secured party that has transferred a security interest to another person.","type":"section","prefixes":["B","7","7B"],"prefix":"7B","entire_prefix":"B77B","prefix_anchor":"B77B","level":3,"prior_prefix":"B77A","next_prefix":"B8"},"24":{"id":213986,"text":"“Bank” means an organization that is engaged in the business of banking. The term includes savings banks, savings and loan associations, credit unions, and trust companies.","type":"section","prefixes":["B","8"],"prefix":"8","entire_prefix":"B8","prefix_anchor":"B8","level":2,"prior_prefix":"B77B","next_prefix":"B9"},"25":{"id":213987,"text":"“Cash proceeds” means proceeds that are money, checks, deposit accounts, or the like.","type":"section","prefixes":["B","9"],"prefix":"9","entire_prefix":"B9","prefix_anchor":"B9","level":2,"prior_prefix":"B8","next_prefix":"B10"},"26":{"id":213988,"text":"“Certificate of title” means a certificate of title with respect to which a statute provides for the security interest in question to be indicated on the certificate as a condition or result of the security interest’s obtaining priority over the rights of a lien creditor with respect to the collateral. The term includes another record maintained as an alternative to a certificate of title by the governmental unit that issues certificates of title if a statute permits the security interest in question to be indicated on the record as a condition or result of the security interest’s obtaining priority over the rights of a lien creditor with respect to the collateral.","type":"section","prefixes":["B","10"],"prefix":"10","entire_prefix":"B10","prefix_anchor":"B10","level":2,"prior_prefix":"B9","next_prefix":"B11"},"27":{"id":213989,"text":"“Chattel paper” means:","type":"section","prefixes":["B","11"],"prefix":"11","entire_prefix":"B11","prefix_anchor":"B11","level":2,"prior_prefix":"B10","next_prefix":"A"},"28":{"id":213990,"text":"a right to payment of a monetary obligation secured by specific goods, if the right to payment and security agreement are evidenced by a record; or","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"B11","next_prefix":"B"},"29":{"id":213991,"text":"a right to payment of a monetary obligation owed by a lessee under a lease agreement with respect to specific goods and a monetary obligation owed by the lessee in connection with the transaction giving rise to the lease, if:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"i"},"30":{"id":213992,"text":"the right to payment and lease agreement are evidenced by a record; and","type":"section","prefixes":["i"],"prefix":"i","entire_prefix":"i","prefix_anchor":"i","level":1,"prior_prefix":"B","next_prefix":"iii"},"31":{"id":213993,"text":"the predominant purpose of the transaction giving rise to the lease was to give the lessee the right to possession and use of the goods.\n\t\t\t\tThe term does not include a right to payment arising out of a charter or other contract involving the use or hire of a vessel or a right to payment arising out of the use of a credit or charge card or information contained on or for use with the card.","type":"section","prefixes":["i","ii"],"prefix":"ii","entire_prefix":"iii","prefix_anchor":"iii","level":2,"prior_prefix":"i","next_prefix":"i12"},"32":{"id":213994,"text":"“Collateral” means the property subject to a security interest or agricultural lien. The term includes:","type":"section","prefixes":["i","12"],"prefix":"12","entire_prefix":"i12","prefix_anchor":"i12","level":2,"prior_prefix":"iii","next_prefix":"A"},"33":{"id":213995,"text":"proceeds to which a security interest attaches;","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"i12","next_prefix":"B"},"34":{"id":213996,"text":"accounts, chattel paper, payment intangibles, and promissory notes that have been sold; and","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"35":{"id":213997,"text":"goods that are the subject of a consignment.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"C13"},"36":{"id":213998,"text":"“Commercial tort claim” means a claim arising in tort with respect to which:","type":"section","prefixes":["C","13"],"prefix":"13","entire_prefix":"C13","prefix_anchor":"C13","level":2,"prior_prefix":"C","next_prefix":"A"},"37":{"id":213999,"text":"the claimant is an organization; or","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"C13","next_prefix":"B"},"38":{"id":214000,"text":"the claimant is an individual and the claim:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"i"},"39":{"id":214001,"text":"arose in the course of the claimant’s business or profession; and","type":"section","prefixes":["i"],"prefix":"i","entire_prefix":"i","prefix_anchor":"i","level":1,"prior_prefix":"B","next_prefix":"iii"},"40":{"id":214002,"text":"does not include damages arising out of personal injury to or the death of an individual.","type":"section","prefixes":["i","ii"],"prefix":"ii","entire_prefix":"iii","prefix_anchor":"iii","level":2,"prior_prefix":"i","next_prefix":"i14"},"41":{"id":214003,"text":"“Commodity account” means an account maintained by a commodity intermediary in which a commodity contract is carried for a commodity customer.","type":"section","prefixes":["i","14"],"prefix":"14","entire_prefix":"i14","prefix_anchor":"i14","level":2,"prior_prefix":"iii","next_prefix":"i15"},"42":{"id":214004,"text":"“Commodity contract” means a commodity futures contract, an option on a commodity futures contract, a commodity option, or another contract if the contract or option is:","type":"section","prefixes":["i","15"],"prefix":"15","entire_prefix":"i15","prefix_anchor":"i15","level":2,"prior_prefix":"i14","next_prefix":"A"},"43":{"id":214005,"text":"traded on or subject to the rules of a board of trade that has been designated as a contract market for such a contract pursuant to federal commodities laws; or","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"i15","next_prefix":"B"},"44":{"id":214006,"text":"traded on a foreign commodity board of trade, exchange, or market, and is carried on the books of a commodity intermediary for a commodity customer.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B16"},"45":{"id":214007,"text":"“Commodity customer” means a person for which a commodity intermediary carries a commodity contract on its books.","type":"section","prefixes":["B","16"],"prefix":"16","entire_prefix":"B16","prefix_anchor":"B16","level":2,"prior_prefix":"B","next_prefix":"B17"},"46":{"id":214008,"text":"“Commodity intermediary” means a person that:","type":"section","prefixes":["B","17"],"prefix":"17","entire_prefix":"B17","prefix_anchor":"B17","level":2,"prior_prefix":"B16","next_prefix":"A"},"47":{"id":214009,"text":"is registered as a futures commission merchant under federal commodities law; or","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"B17","next_prefix":"B"},"48":{"id":214010,"text":"in the ordinary course of its business provides clearance or settlement services for a board of trade that has been designated as a contract market pursuant to federal commodities law.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B18"},"49":{"id":214011,"text":"“Communicate” means:","type":"section","prefixes":["B","18"],"prefix":"18","entire_prefix":"B18","prefix_anchor":"B18","level":2,"prior_prefix":"B","next_prefix":"A"},"50":{"id":214012,"text":"to send a written or other tangible record;","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"B18","next_prefix":"B"},"51":{"id":214013,"text":"to transmit a record by any means agreed upon by the persons sending and receiving the record; or","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"52":{"id":214014,"text":"in the case of transmission of a record to or by a filing office, to transmit a record by any means prescribed by filing-office rule.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"C19"},"53":{"id":214015,"text":"“Consignee” means a merchant to which goods are delivered in a consignment.","type":"section","prefixes":["C","19"],"prefix":"19","entire_prefix":"C19","prefix_anchor":"C19","level":2,"prior_prefix":"C","next_prefix":"C20"},"54":{"id":214016,"text":"“Consignment” means a transaction, regardless of its form, in which a person delivers goods to a merchant for the purpose of sale and:","type":"section","prefixes":["C","20"],"prefix":"20","entire_prefix":"C20","prefix_anchor":"C20","level":2,"prior_prefix":"C19","next_prefix":"A"},"55":{"id":214017,"text":"the merchant:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"C20","next_prefix":"i"},"56":{"id":214018,"text":"deals in goods of that kind under a name other than the name of the person making delivery;","type":"section","prefixes":["i"],"prefix":"i","entire_prefix":"i","prefix_anchor":"i","level":1,"prior_prefix":"A","next_prefix":"iii"},"57":{"id":214019,"text":"is not an auctioneer; and","type":"section","prefixes":["i","ii"],"prefix":"ii","entire_prefix":"iii","prefix_anchor":"iii","level":2,"prior_prefix":"i","next_prefix":"iiii"},"58":{"id":214020,"text":"is not generally known by its creditors to be substantially engaged in selling the goods of others;","type":"section","prefixes":["i","iii"],"prefix":"iii","entire_prefix":"iiii","prefix_anchor":"iiii","level":2,"prior_prefix":"iii","next_prefix":"B"},"59":{"id":214021,"text":"with respect to each delivery, the aggregate value of the goods is $1,000 or more at the time of delivery;","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"iiii","next_prefix":"C"},"60":{"id":214022,"text":"the goods are not consumer goods immediately before delivery; and","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"61":{"id":214023,"text":"the transaction does not create a security interest that secures an obligation.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"D21"},"62":{"id":214024,"text":"“Consignor” means a person that delivers goods to a consignee in a consignment.","type":"section","prefixes":["D","21"],"prefix":"21","entire_prefix":"D21","prefix_anchor":"D21","level":2,"prior_prefix":"D","next_prefix":"D22"},"63":{"id":214025,"text":"“Consumer debtor” means a debtor in a consumer transaction.","type":"section","prefixes":["D","22"],"prefix":"22","entire_prefix":"D22","prefix_anchor":"D22","level":2,"prior_prefix":"D21","next_prefix":"D23"},"64":{"id":214026,"text":"“Consumer goods” means goods that are used or bought for use primarily for personal, family, or household purposes.","type":"section","prefixes":["D","23"],"prefix":"23","entire_prefix":"D23","prefix_anchor":"D23","level":2,"prior_prefix":"D22","next_prefix":"D24"},"65":{"id":214027,"text":"“Consumer-goods transaction” means a consumer transaction in which:","type":"section","prefixes":["D","24"],"prefix":"24","entire_prefix":"D24","prefix_anchor":"D24","level":2,"prior_prefix":"D23","next_prefix":"A"},"66":{"id":214028,"text":"an individual incurs an obligation primarily for personal, family, or household purposes; and","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"D24","next_prefix":"B"},"67":{"id":214029,"text":"a security interest in consumer goods secures the obligation.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B25"},"68":{"id":214030,"text":"“Consumer obligor” means an obligor who is an individual and who incurred the obligation as part of a transaction entered into primarily for personal, family, or household purposes.","type":"section","prefixes":["B","25"],"prefix":"25","entire_prefix":"B25","prefix_anchor":"B25","level":2,"prior_prefix":"B","next_prefix":"B26"},"69":{"id":214031,"text":"“Consumer transaction” means a transaction in which (i) an individual incurs an obligation primarily for personal, family, or household purposes, (ii) a security interest secures the obligation, and (iii) the collateral is held or acquired primarily for personal, family, or household purposes. The term includes consumer-goods transactions.","type":"section","prefixes":["B","26"],"prefix":"26","entire_prefix":"B26","prefix_anchor":"B26","level":2,"prior_prefix":"B25","next_prefix":"B27"},"70":{"id":214032,"text":"“Continuation statement” means an amendment of a financing statement which:","type":"section","prefixes":["B","27"],"prefix":"27","entire_prefix":"B27","prefix_anchor":"B27","level":2,"prior_prefix":"B26","next_prefix":"A"},"71":{"id":214033,"text":"identifies, by its file number, the initial financing statement to which it relates; and","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"B27","next_prefix":"B"},"72":{"id":214034,"text":"indicates that it is a continuation statement for, or that it is filed to continue the effectiveness of, the identified financing statement.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B27A"},"73":{"id":214035,"text":"“Controllable account” means an account evidenced by a controllable electronic record that provides that the account debtor undertakes to pay the person that has control under § 8.12-105 of the controllable electronic record.","type":"section","prefixes":["B","27A"],"prefix":"27A","entire_prefix":"B27A","prefix_anchor":"B27A","level":2,"prior_prefix":"B","next_prefix":"B27B"},"74":{"id":214036,"text":"“Controllable payment intangible” means a payment intangible evidenced by a controllable electronic record that provides that the account debtor undertakes to pay the person that has control under § 8.12-105 of the controllable electronic record.","type":"section","prefixes":["B","27B"],"prefix":"27B","entire_prefix":"B27B","prefix_anchor":"B27B","level":2,"prior_prefix":"B27A","next_prefix":"B28"},"75":{"id":214037,"text":"“Debtor” means:","type":"section","prefixes":["B","28"],"prefix":"28","entire_prefix":"B28","prefix_anchor":"B28","level":2,"prior_prefix":"B27B","next_prefix":"A"},"76":{"id":214038,"text":"a person having an interest, other than a security interest or other lien, in the collateral, whether or not the person is an obligor;","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"B28","next_prefix":"B"},"77":{"id":214039,"text":"a seller of accounts, chattel paper, payment intangibles, or promissory notes; or","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"78":{"id":214040,"text":"a consignee.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"C29"},"79":{"id":214041,"text":"“Deposit account” means a demand, time, savings, passbook, or similar account maintained with a bank. The term does not include investment property or accounts evidenced by an instrument.","type":"section","prefixes":["C","29"],"prefix":"29","entire_prefix":"C29","prefix_anchor":"C29","level":2,"prior_prefix":"C","next_prefix":"C30"},"80":{"id":214042,"text":"“Document” means a document of title or a receipt of the type described in subdivision (2) of § 8.7-201.","type":"section","prefixes":["C","30"],"prefix":"30","entire_prefix":"C30","prefix_anchor":"C30","level":2,"prior_prefix":"C29","next_prefix":"C31"},"81":{"id":214043,"text":"[Reserved.]","type":"section","prefixes":["C","31"],"prefix":"31","entire_prefix":"C31","prefix_anchor":"C31","level":2,"prior_prefix":"C30","next_prefix":"C3131A"},"82":{"id":214044,"text":"“Electronic money” means money in an electronic form.","type":"section","prefixes":["C","31","31A"],"prefix":"31A","entire_prefix":"C3131A","prefix_anchor":"C3131A","level":3,"prior_prefix":"C31","next_prefix":"C32"},"83":{"id":214045,"text":"“Encumbrance” means a right, other than an ownership interest, in real property. The term includes mortgages and other liens on real property.","type":"section","prefixes":["C","32"],"prefix":"32","entire_prefix":"C32","prefix_anchor":"C32","level":2,"prior_prefix":"C3131A","next_prefix":"C33"},"84":{"id":214046,"text":"“Equipment” means goods other than inventory, farm products, or consumer goods.","type":"section","prefixes":["C","33"],"prefix":"33","entire_prefix":"C33","prefix_anchor":"C33","level":2,"prior_prefix":"C32","next_prefix":"C34"},"85":{"id":214047,"text":"“Farm products” means goods, other than standing timber, with respect to which the debtor is engaged in a farming operation and which are:","type":"section","prefixes":["C","34"],"prefix":"34","entire_prefix":"C34","prefix_anchor":"C34","level":2,"prior_prefix":"C33","next_prefix":"A"},"86":{"id":214048,"text":"crops grown, growing, or to be grown, including:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"C34","next_prefix":"i"},"87":{"id":214049,"text":"crops produced on trees, vines, and bushes; and","type":"section","prefixes":["i"],"prefix":"i","entire_prefix":"i","prefix_anchor":"i","level":1,"prior_prefix":"A","next_prefix":"iii"},"88":{"id":214050,"text":"aquatic goods produced in aquacultural operations;","type":"section","prefixes":["i","ii"],"prefix":"ii","entire_prefix":"iii","prefix_anchor":"iii","level":2,"prior_prefix":"i","next_prefix":"B"},"89":{"id":214051,"text":"livestock, born or unborn, including aquatic goods produced in aquacultural operations;","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"iii","next_prefix":"C"},"90":{"id":214052,"text":"supplies used or produced in a farming operation; or","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"91":{"id":214053,"text":"products of crops or livestock in their unmanufactured states.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"D35"},"92":{"id":214054,"text":"“Farming operation” means raising, cultivating, propagating, fattening, grazing, or any other farming, livestock, or aquacultural operation.","type":"section","prefixes":["D","35"],"prefix":"35","entire_prefix":"D35","prefix_anchor":"D35","level":2,"prior_prefix":"D","next_prefix":"D36"},"93":{"id":214055,"text":"“File number” means the number assigned to an initial financing statement pursuant to subsection (a) of § 8.9A-519.","type":"section","prefixes":["D","36"],"prefix":"36","entire_prefix":"D36","prefix_anchor":"D36","level":2,"prior_prefix":"D35","next_prefix":"D37"},"94":{"id":214056,"text":"“Filing office” means an office designated in § 8.9A-501 as the place to file a financing statement.","type":"section","prefixes":["D","37"],"prefix":"37","entire_prefix":"D37","prefix_anchor":"D37","level":2,"prior_prefix":"D36","next_prefix":"D38"},"95":{"id":214057,"text":"“Filing-office rule” means a rule adopted pursuant to § 8.9A-526.","type":"section","prefixes":["D","38"],"prefix":"38","entire_prefix":"D38","prefix_anchor":"D38","level":2,"prior_prefix":"D37","next_prefix":"D39"},"96":{"id":214058,"text":"“Financing statement” means a record or records composed of an initial financing statement and any filed record relating to the initial financing statement.","type":"section","prefixes":["D","39"],"prefix":"39","entire_prefix":"D39","prefix_anchor":"D39","level":2,"prior_prefix":"D38","next_prefix":"D40"},"97":{"id":214059,"text":"“Fixture filing” means the filing of a financing statement covering goods that are or are to become fixtures and satisfying subsections (a) and (b) of § 8.9A-502. The term includes the filing of a financing statement covering goods of a transmitting utility which are or are to become fixtures.","type":"section","prefixes":["D","40"],"prefix":"40","entire_prefix":"D40","prefix_anchor":"D40","level":2,"prior_prefix":"D39","next_prefix":"D41"},"98":{"id":214060,"text":"“Fixtures” means goods that have become so related to particular real property that an interest in them arises under real property law.","type":"section","prefixes":["D","41"],"prefix":"41","entire_prefix":"D41","prefix_anchor":"D41","level":2,"prior_prefix":"D40","next_prefix":"D42"},"99":{"id":214061,"text":"“General intangible” means any personal property, including things in action, other than accounts, chattel paper, commercial tort claims, deposit accounts, documents, goods, instruments, investment property, letter-of-credit rights, letters of credit, money, and oil, gas, or other minerals before extraction. The term includes controllable electronic records, payment intangibles, and software.","type":"section","prefixes":["D","42"],"prefix":"42","entire_prefix":"D42","prefix_anchor":"D42","level":2,"prior_prefix":"D41","next_prefix":"D43"},"100":{"id":214062,"text":"“Good faith” means honesty in fact and the observance of reasonable commercial standards of fair dealing.","type":"section","prefixes":["D","43"],"prefix":"43","entire_prefix":"D43","prefix_anchor":"D43","level":2,"prior_prefix":"D42","next_prefix":"D44"},"101":{"id":214063,"text":"“Goods” means all things that are movable when a security interest attaches. The term includes (i) fixtures, (ii) standing timber that is to be cut and removed under a conveyance or contract for sale, (iii) the unborn young of animals, (iv) crops grown, growing, or to be grown, even if the crops are produced on trees, vines, or bushes, and (v) manufactured homes. The term also includes a computer program embedded in goods and any supporting information provided in connection with a transaction relating to the program if (i) the program is associated with the goods in such a manner that it customarily is considered part of the goods or (ii) by becoming the owner of the goods, a person acquires a right to use the program in connection with the goods. The term does not include a computer program embedded in goods that consist solely of the medium in which the program is embedded. The term also does not include accounts, chattel paper, commercial tort claims, deposit accounts, documents, general intangibles, instruments, investment property, letter-of-credit rights, letters of credit, money, or oil, gas, or other minerals before extraction.","type":"section","prefixes":["D","44"],"prefix":"44","entire_prefix":"D44","prefix_anchor":"D44","level":2,"prior_prefix":"D43","next_prefix":"D45"},"102":{"id":214064,"text":"“Governmental unit” means a subdivision, agency, department, county, parish, municipality, or other unit of the government of the United States, a State, or a foreign country. The term includes an organization having a separate corporate existence if the organization is eligible to issue debt on which interest is exempt from income taxation under the laws of the United States.","type":"section","prefixes":["D","45"],"prefix":"45","entire_prefix":"D45","prefix_anchor":"D45","level":2,"prior_prefix":"D44","next_prefix":"D46"},"103":{"id":214065,"text":"“Health-care-insurance receivable” means an interest in or claim under a policy of insurance which is a right to payment of a monetary obligation for health-care goods or services provided.","type":"section","prefixes":["D","46"],"prefix":"46","entire_prefix":"D46","prefix_anchor":"D46","level":2,"prior_prefix":"D45","next_prefix":"D47"},"104":{"id":214066,"text":"“Instrument” means a negotiable instrument or any other writing that evidences a right to the payment of a monetary obligation, is not itself a security agreement or lease, and is of a type that in ordinary course of business is transferred by delivery with any necessary endorsement or assignment. The term does not include (i) investment property, (ii) letters of credit, (iii) writings that evidence a right to payment arising out of the use of a credit or charge card or information contained on or for use with the card, or (iv) writings that evidence chattel paper.","type":"section","prefixes":["D","47"],"prefix":"47","entire_prefix":"D47","prefix_anchor":"D47","level":2,"prior_prefix":"D46","next_prefix":"D48"},"105":{"id":214067,"text":"“Inventory” means goods, other than farm products, which:","type":"section","prefixes":["D","48"],"prefix":"48","entire_prefix":"D48","prefix_anchor":"D48","level":2,"prior_prefix":"D47","next_prefix":"A"},"106":{"id":214068,"text":"are leased by a person as lessor;","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"D48","next_prefix":"B"},"107":{"id":214069,"text":"are held by a person for sale or lease or to be furnished under a contract of service;","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"108":{"id":214070,"text":"are furnished by a person under a contract of service; or","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"109":{"id":214071,"text":"consist of raw materials, work in process, or materials used or consumed in a business.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"D49"},"110":{"id":214072,"text":"“Investment property” means a security, whether certificated or uncertificated, security entitlement, securities account, commodity contract, or commodity account.","type":"section","prefixes":["D","49"],"prefix":"49","entire_prefix":"D49","prefix_anchor":"D49","level":2,"prior_prefix":"D","next_prefix":"D50"},"111":{"id":214073,"text":"“Jurisdiction of organization,” with respect to a registered organization, means the jurisdiction under whose law the organization is formed or organized.","type":"section","prefixes":["D","50"],"prefix":"50","entire_prefix":"D50","prefix_anchor":"D50","level":2,"prior_prefix":"D49","next_prefix":"D51"},"112":{"id":214074,"text":"“Letter-of-credit right” means a right to payment or performance under a letter of credit, whether or not the beneficiary has demanded or is at the time entitled to demand payment or performance. The term does not include the right of a beneficiary to demand payment or performance under a letter of credit.","type":"section","prefixes":["D","51"],"prefix":"51","entire_prefix":"D51","prefix_anchor":"D51","level":2,"prior_prefix":"D50","next_prefix":"D52"},"113":{"id":214075,"text":"“Lien creditor” means:","type":"section","prefixes":["D","52"],"prefix":"52","entire_prefix":"D52","prefix_anchor":"D52","level":2,"prior_prefix":"D51","next_prefix":"A"},"114":{"id":214076,"text":"a creditor that has acquired a lien on the property involved by attachment, levy, or the like;","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"D52","next_prefix":"B"},"115":{"id":214077,"text":"an assignee for benefit of creditors from the time of assignment;","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"116":{"id":214078,"text":"a trustee in bankruptcy from the date of the filing of the petition; or","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"117":{"id":214079,"text":"a receiver in equity from the time of appointment.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"D53"},"118":{"id":214080,"text":"“Manufactured home” means a structure, transportable in one or more sections, which, in the traveling mode, is eight body feet or more in width or 40 body feet or more in length, or, when erected on site, is 320 or more square feet, and which is built on a permanent chassis and designed to be used as a dwelling with or without a permanent foundation when connected to the required utilities, and includes the plumbing, heating, air-conditioning, and electrical systems contained therein. The term includes any structure that meets all of the requirements of this paragraph except the size requirements and with respect to which the manufacturer voluntarily files a certification required by the United States Secretary of Housing and Urban Development and complies with the standards established under Title 42 of the United States Code.","type":"section","prefixes":["D","53"],"prefix":"53","entire_prefix":"D53","prefix_anchor":"D53","level":2,"prior_prefix":"D","next_prefix":"D54"},"119":{"id":214081,"text":"“Manufactured-home transaction” means a secured transaction:","type":"section","prefixes":["D","54"],"prefix":"54","entire_prefix":"D54","prefix_anchor":"D54","level":2,"prior_prefix":"D53","next_prefix":"A"},"120":{"id":214082,"text":"that creates a purchase-money security interest in a manufactured home, other than a manufactured home held as inventory; or","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"D54","next_prefix":"B"},"121":{"id":214083,"text":"in which a manufactured home, other than a manufactured home held as inventory, is the primary collateral.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B54A"},"122":{"id":214084,"text":"“Money” has the meaning in § 8.1A-102(b)(24), but does not include (i) a deposit account or (ii) money in an electronic form that cannot be subjected to control under § 8.9A-105.1","type":"section","prefixes":["B","54A"],"prefix":"54A","entire_prefix":"B54A","prefix_anchor":"B54A","level":2,"prior_prefix":"B","next_prefix":"B55"},"123":{"id":214085,"text":"“Mortgage” means a consensual interest in real property, including fixtures, which secures payment or performance of an obligation.","type":"section","prefixes":["B","55"],"prefix":"55","entire_prefix":"B55","prefix_anchor":"B55","level":2,"prior_prefix":"B54A","next_prefix":"B56"},"124":{"id":214086,"text":"“New debtor” means a person that becomes bound as debtor under subsection (d) of § 8.9A-203 by a security agreement previously entered into by another person.","type":"section","prefixes":["B","56"],"prefix":"56","entire_prefix":"B56","prefix_anchor":"B56","level":2,"prior_prefix":"B55","next_prefix":"B57"},"125":{"id":214087,"text":"“New value” means (i) money, (ii) money’s worth in property, services, or new credit, or (iii) release by a transferee of an interest in property previously transferred to the transferee. The term does not include an obligation substituted for another obligation.","type":"section","prefixes":["B","57"],"prefix":"57","entire_prefix":"B57","prefix_anchor":"B57","level":2,"prior_prefix":"B56","next_prefix":"B58"},"126":{"id":214088,"text":"“Noncash proceeds” means proceeds other than cash proceeds.","type":"section","prefixes":["B","58"],"prefix":"58","entire_prefix":"B58","prefix_anchor":"B58","level":2,"prior_prefix":"B57","next_prefix":"B59"},"127":{"id":214089,"text":"“Obligor” means a person that, with respect to an obligation secured by a security interest in or an agricultural lien on the collateral, (i) owes payment or other performance of the obligation, (ii) has provided property other than the collateral to secure payment or other performance of the obligation, or (iii) is otherwise accountable in whole or in part for payment or other performance of the obligation. The term does not include issuers or nominated persons under a letter of credit.","type":"section","prefixes":["B","59"],"prefix":"59","entire_prefix":"B59","prefix_anchor":"B59","level":2,"prior_prefix":"B58","next_prefix":"B60"},"128":{"id":214090,"text":"“Original debtor,” except as used in subsection (c) of § 8.9A-310, means a person that, as debtor, entered into a security agreement to which a new debtor has become bound under subsection (d) of § 8.9A-203.","type":"section","prefixes":["B","60"],"prefix":"60","entire_prefix":"B60","prefix_anchor":"B60","level":2,"prior_prefix":"B59","next_prefix":"B61"},"129":{"id":214091,"text":"“Payment intangible” means a general intangible under which the account debtor’s principal obligation is a monetary obligation. The term includes a controllable payment intangible.","type":"section","prefixes":["B","61"],"prefix":"61","entire_prefix":"B61","prefix_anchor":"B61","level":2,"prior_prefix":"B60","next_prefix":"B62"},"130":{"id":214092,"text":"“Person related to,” with respect to an individual, means:","type":"section","prefixes":["B","62"],"prefix":"62","entire_prefix":"B62","prefix_anchor":"B62","level":2,"prior_prefix":"B61","next_prefix":"A"},"131":{"id":214093,"text":"the spouse of the individual;","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"B62","next_prefix":"B"},"132":{"id":214094,"text":"a brother, brother-in-law, sister, or sister-in-law of the individual;","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"133":{"id":214095,"text":"an ancestor or lineal descendant of the individual or the individual’s spouse; or","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"134":{"id":214096,"text":"any other relative, by blood or marriage, of the individual or the individual’s spouse who shares the same home with the individual.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"D63"},"135":{"id":214097,"text":"“Person related to,” with respect to an organization, means:","type":"section","prefixes":["D","63"],"prefix":"63","entire_prefix":"D63","prefix_anchor":"D63","level":2,"prior_prefix":"D","next_prefix":"A"},"136":{"id":214098,"text":"a person directly or indirectly controlling, controlled by, or under common control with the organization;","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"D63","next_prefix":"B"},"137":{"id":214099,"text":"an officer or director of, or a person performing similar functions with respect to, the organization;","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"138":{"id":214100,"text":"an officer or director of, or a person performing similar functions with respect to, a person described in subparagraph (A);","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"139":{"id":214101,"text":"the spouse of an individual described in subparagraph (A), (B), or (C); or","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"140":{"id":214102,"text":"an individual who is related by blood or marriage to an individual described in subparagraph (A), (B), (C), or (D) and shares the same home with the individual.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"E64"},"141":{"id":214103,"text":"“Proceeds,” except as used in subsection (b) of § 8.9A-609, means the following property:","type":"section","prefixes":["E","64"],"prefix":"64","entire_prefix":"E64","prefix_anchor":"E64","level":2,"prior_prefix":"E","next_prefix":"A"},"142":{"id":214104,"text":"whatever is acquired upon the sale, lease, license, exchange, or other disposition of collateral;","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"E64","next_prefix":"B"},"143":{"id":214105,"text":"whatever is collected on, or distributed on account of, collateral;","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"144":{"id":214106,"text":"rights arising out of collateral;","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"145":{"id":214107,"text":"to the extent of the value of collateral, claims arising out of the loss, nonconformity, or interference with the use of, defects or infringement of rights in, or damage to, the collateral; or","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"146":{"id":214108,"text":"to the extent of the value of collateral and to the extent payable to the debtor or the secured party, insurance payable by reason of the loss or nonconformity of, defects or infringement of rights in, or damage to, the collateral.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"E65"},"147":{"id":214109,"text":"“Promissory note” means an instrument that evidences a promise to pay a monetary obligation, does not evidence an order to pay, and does not contain an acknowledgment by a bank that the bank has received for deposit a sum of money or funds.","type":"section","prefixes":["E","65"],"prefix":"65","entire_prefix":"E65","prefix_anchor":"E65","level":2,"prior_prefix":"E","next_prefix":"E66"},"148":{"id":214110,"text":"“Proposal” means a record signed by a secured party which includes the terms on which the secured party is willing to accept collateral in full or partial satisfaction of the obligation it secures pursuant to §§ 8.9A-620, 8.9A-621, and 8.9A-622.","type":"section","prefixes":["E","66"],"prefix":"66","entire_prefix":"E66","prefix_anchor":"E66","level":2,"prior_prefix":"E65","next_prefix":"E67"},"149":{"id":214111,"text":"“Public-finance transaction” means a secured transaction in connection with which:","type":"section","prefixes":["E","67"],"prefix":"67","entire_prefix":"E67","prefix_anchor":"E67","level":2,"prior_prefix":"E66","next_prefix":"A"},"150":{"id":214112,"text":"debt securities are issued;","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"E67","next_prefix":"B"},"151":{"id":214113,"text":"all or a portion of the securities issued have an initial stated maturity of at least 20 years; and","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"152":{"id":214114,"text":"the debtor, obligor, secured party, account debtor or other person obligated on collateral, assignor or assignee of a secured obligation, or assignor or assignee of a security interest is a state or a governmental unit of a state.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"C68"},"153":{"id":214115,"text":"“Public organic record” means a record that is available to the public for inspection and that is:","type":"section","prefixes":["C","68"],"prefix":"68","entire_prefix":"C68","prefix_anchor":"C68","level":2,"prior_prefix":"C","next_prefix":"A"},"154":{"id":214116,"text":"a record consisting of the record initially filed with or issued by a state or the United States to form or organize an organization and any record filed with or issued by the state or the United States which amends or restates the initial record;","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"C68","next_prefix":"B"},"155":{"id":214117,"text":"an organic record of a business trust consisting of the record initially filed with a state and any record filed with the state which amends or restates the initial record, if a statute of the state governing business trusts requires that the record be filed with the state; or","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"156":{"id":214118,"text":"a record consisting of legislation enacted by the legislature of a state or the Congress of the United States which forms or organizes an organization, any record amending the legislation, and any record filed with or issued by the state or the United States which amends or restates the name of the organization.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"C69"},"157":{"id":214119,"text":"“Pursuant to commitment,” with respect to an advance made or other value given by a secured party, means pursuant to the secured party’s obligation, whether or not a subsequent event of default or other event not within the secured party’s control has relieved or may relieve the secured party from its obligation.","type":"section","prefixes":["C","69"],"prefix":"69","entire_prefix":"C69","prefix_anchor":"C69","level":2,"prior_prefix":"C","next_prefix":"C70"},"158":{"id":214120,"text":"“Record,” except as used in “for record,” “of record,” “record or legal title,” and “record owner,” means information that is inscribed on a tangible medium or which is stored in an electronic or other medium and is retrievable in perceivable form.","type":"section","prefixes":["C","70"],"prefix":"70","entire_prefix":"C70","prefix_anchor":"C70","level":2,"prior_prefix":"C69","next_prefix":"C71"},"159":{"id":214121,"text":"“Registered organization” means an organization formed or organized solely under the law of a single state or the United States by the filing of a public organic record with, the issuance of a public organic record by, or the enactment of legislation by the state or the United States. The term includes a business trust that is formed or organized under the law of a single state if a statute of the state governing business trusts requires that the business trust’s organic record be filed with the state.","type":"section","prefixes":["C","71"],"prefix":"71","entire_prefix":"C71","prefix_anchor":"C71","level":2,"prior_prefix":"C70","next_prefix":"C72"},"160":{"id":214122,"text":"“Secondary obligor” means an obligor to the extent that:","type":"section","prefixes":["C","72"],"prefix":"72","entire_prefix":"C72","prefix_anchor":"C72","level":2,"prior_prefix":"C71","next_prefix":"A"},"161":{"id":214123,"text":"the obligor’s obligation is secondary; or","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"C72","next_prefix":"B"},"162":{"id":214124,"text":"the obligor has a right of recourse with respect to an obligation secured by collateral against the debtor, another obligor, or property of either.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B73"},"163":{"id":214125,"text":"“Secured party” means:","type":"section","prefixes":["B","73"],"prefix":"73","entire_prefix":"B73","prefix_anchor":"B73","level":2,"prior_prefix":"B","next_prefix":"A"},"164":{"id":214126,"text":"a person in whose favor a security interest is created or provided for under a security agreement, whether or not any obligation to be secured is outstanding;","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"B73","next_prefix":"B"},"165":{"id":214127,"text":"a person that holds an agricultural lien;","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"166":{"id":214128,"text":"a consignor;","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"167":{"id":214129,"text":"a person to which accounts, chattel paper, payment intangibles, or promissory notes have been sold;","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"168":{"id":214130,"text":"a trustee, indenture trustee, agent, collateral agent, or other representative in whose favor a security interest or agricultural lien is created or provided for; or","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"169":{"id":214131,"text":"a person that holds a security interest arising under \u00a7 8.2-401, 8.2-505, 8.2-711 (3), 8.2A-508 (5), 8.4-210, or 8.5A-118.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E","next_prefix":"F74"},"170":{"id":214132,"text":"“Security agreement” means an agreement that creates or provides for a security interest.","type":"section","prefixes":["F","74"],"prefix":"74","entire_prefix":"F74","prefix_anchor":"F74","level":2,"prior_prefix":"F","next_prefix":"F75"},"171":{"id":214133,"text":"[Reserved.]","type":"section","prefixes":["F","75"],"prefix":"75","entire_prefix":"F75","prefix_anchor":"F75","level":2,"prior_prefix":"F74","next_prefix":"F76"},"172":{"id":214134,"text":"“Software” means a computer program and any supporting information provided in connection with a transaction relating to the program. The term does not include a computer program that is included in the definition of goods.","type":"section","prefixes":["F","76"],"prefix":"76","entire_prefix":"F76","prefix_anchor":"F76","level":2,"prior_prefix":"F75","next_prefix":"F77"},"173":{"id":214135,"text":"“State” means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States.","type":"section","prefixes":["F","77"],"prefix":"77","entire_prefix":"F77","prefix_anchor":"F77","level":2,"prior_prefix":"F76","next_prefix":"F78"},"174":{"id":214136,"text":"“Supporting obligation” means a letter of credit right or secondary obligation that supports the payment or performance of an account, chattel paper, a document, a general intangible, an instrument, or investment property.","type":"section","prefixes":["F","78"],"prefix":"78","entire_prefix":"F78","prefix_anchor":"F78","level":2,"prior_prefix":"F77","next_prefix":"F79"},"175":{"id":214137,"text":"[Reserved.]","type":"section","prefixes":["F","79"],"prefix":"79","entire_prefix":"F79","prefix_anchor":"F79","level":2,"prior_prefix":"F78","next_prefix":"F7979A"},"176":{"id":214138,"text":"“Tangible money” means money in a tangible form.","type":"section","prefixes":["F","79","79A"],"prefix":"79A","entire_prefix":"F7979A","prefix_anchor":"F7979A","level":3,"prior_prefix":"F79","next_prefix":"F80"},"177":{"id":214139,"text":"“Termination statement” means an amendment of a financing statement which:","type":"section","prefixes":["F","80"],"prefix":"80","entire_prefix":"F80","prefix_anchor":"F80","level":2,"prior_prefix":"F7979A","next_prefix":"A"},"178":{"id":214140,"text":"identifies, by its file number, the initial financing statement to which it relates; and","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"F80","next_prefix":"B"},"179":{"id":214141,"text":"indicates either that it is a termination statement or that the identified financing statement is no longer effective.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B81"},"180":{"id":214142,"text":"“Transmitting utility” means a person primarily engaged in the business of:","type":"section","prefixes":["B","81"],"prefix":"81","entire_prefix":"B81","prefix_anchor":"B81","level":2,"prior_prefix":"B","next_prefix":"A"},"181":{"id":214143,"text":"operating a railroad, subway, street railway, or trolley bus;","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"B81","next_prefix":"B"},"182":{"id":214144,"text":"transmitting communications electrically, electromagnetically, or by light;","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"183":{"id":214145,"text":"transmitting goods by pipeline or sewer; or","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"184":{"id":214146,"text":"transmitting or producing and transmitting electricity, steam, gas, or water.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"b"},"185":{"id":214147,"text":"Definitions in other titles. The following definitions in other titles apply to this title:\n\t\t\t“Applicant” § 8.5A-102.\n\t\t\t“Beneficiary” § 8.5A-102.\n\t\t\t“Broker” § 8.8A-102.\n\t\t\t“Certificated security” § 8.8A-102.\n\t\t\t“Check” § 8.3A-104.\n\t\t\t“Clearing corporation” § 8.8A-102.\n\t\t\t“Contract for sale” § 8.2-106.\n\t\t\t“Control” § 8.7-106.\n\t\t\t“Controllable electronic record” § 8.12-102.\n\t\t\t“Customer” § 8.4-104.\n\t\t\t“Entitlement holder” § 8.8A-102.\n\t\t\t“Financial asset” § 8.8A-102.\n\t\t\t“Holder in due course” § 8.3A-302.\n\t\t\t“Issuer” (with respect to a letter of credit or letter-of-credit right) § 8.5A-102.\n\t\t\t“Issuer” (with respect to a security) § 8.8A-201.\n\t\t\t“Issuer” (with respect to documents of title) § 8.7-102.\n\t\t\t“Lease” § 8.2A-103.\n\t\t\t“Lease agreement” § 8.2A-103.\n\t\t\t“Lease contract” § 8.2A-103.\n\t\t\t“Leasehold interest” § 8.2A-103.\n\t\t\t“Lessee” § 8.2A-103.\n\t\t\t“Lessee in ordinary course of business” § 8.2A-103.\n\t\t\t“Lessor” § 8.2A-103.\n\t\t\t“Lessor’s residual interest” § 8.2A-103.\n\t\t\t“Letter of credit” § 8.5A-102.\n\t\t\t“Merchant” § 8.2-104.\n\t\t\t“Negotiable instrument” § 8.3A-104.\n\t\t\t“Nominated person” § 8.5A-102.\n\t\t\t“Note” § 8.3A-104.\n\t\t\t“Proceeds of a letter of credit” § 8.5A-114.\n\t\t\t“Protected purchaser” § 8.8A-303.\n\t\t\t“Prove” § 8.3A-103.\n\t\t\t“Qualifying purchaser” § 8.12-102.\n\t\t\t“Sale” § 8.2-106.\n\t\t\t“Securities account” § 8.8A-501.\n\t\t\t“Securities intermediary” § 8.8A-102.\n\t\t\t“Security” § 8.8A-102.\n\t\t\t“Security certificate” § 8.8A-102.\n\t\t\t“Security entitlement” § 8.8A-102.\n\t\t\t“Uncertificated security” § 8.8A-102.","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"D","next_prefix":"c"},"186":{"id":214148,"text":"Title 8.1A definitions and principles. Title 8.1A contains general definitions and principles of construction and interpretation applicable throughout this title.","type":"section","prefixes":["c"],"prefix":"c","entire_prefix":"c","prefix_anchor":"c","level":1,"prior_prefix":"b"}},"ancestry":[{"id":15319,"edition_id":1,"name":"Short Title, Definitions and General Concepts","identifier":"1","label":"subpart","depth":3,"order_by":1,"parent_id":15318,"metadata":{},"date_created":"2026-06-26 03:53:55","date_modified":"2026-06-26 03:53:55","permalink":{"id":283837,"object_type":"structure","relational_id":15319,"identifier":"1","token":"8.9A\/1\/1","url":"\/8.9A\/1\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":15318,"edition_id":1,"name":"General Provisions","identifier":"1","label":"part","depth":2,"order_by":1,"parent_id":13277,"metadata":{},"date_created":"2026-06-26 03:53:55","date_modified":"2026-06-26 03:53:55","permalink":{"id":283835,"object_type":"structure","relational_id":15318,"identifier":"1","token":"8.9A\/1","url":"\/8.9A\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13277,"edition_id":1,"name":"Commercial Code \u2014 Secured Transactions","identifier":"8.9A","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:33","date_modified":"2026-06-26 03:44:33","permalink":{"id":283833,"object_type":"structure","relational_id":13277,"identifier":"8.9A","token":"8.9A","url":"\/8.9A\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":58325,"structure_id":15319,"section_number":"8.9A-101","catch_line":"Short title","url":"\/8.9A-101\/","token":"8.9A\/1\/1\/8.9A-101","metadata":false},{"id":58431,"structure_id":15319,"section_number":"8.9A-102","catch_line":"Definitions and index of definitions","url":"\/8.9A-102\/","token":"8.9A\/1\/1\/8.9A-102","metadata":false},{"id":74460,"structure_id":15319,"section_number":"8.9A-103","catch_line":"Purchase-money security interest; application of payments; burden of establishing","url":"\/8.9A-103\/","token":"8.9A\/1\/1\/8.9A-103","metadata":false},{"id":62491,"structure_id":15319,"section_number":"8.9A-104","catch_line":"Control of deposit account","url":"\/8.9A-104\/","token":"8.9A\/1\/1\/8.9A-104","metadata":false},{"id":84613,"structure_id":15319,"section_number":"8.9A-105","catch_line":"Control of electronic copy of record evidencing chattel paper","url":"\/8.9A-105\/","token":"8.9A\/1\/1\/8.9A-105","metadata":false},{"id":59549,"structure_id":15319,"section_number":"8.9A-105.1","catch_line":"Control of electronic money","url":"\/8.9A-105.1\/","token":"8.9A\/1\/1\/8.9A-105.1","metadata":false},{"id":81668,"structure_id":15319,"section_number":"8.9A-106","catch_line":"Control of investment property","url":"\/8.9A-106\/","token":"8.9A\/1\/1\/8.9A-106","metadata":false},{"id":58690,"structure_id":15319,"section_number":"8.9A-107","catch_line":"Control of letter-of-credit right","url":"\/8.9A-107\/","token":"8.9A\/1\/1\/8.9A-107","metadata":false},{"id":76599,"structure_id":15319,"section_number":"8.9A-107.1","catch_line":"Control of controllable electronic record, controllable account, or controllable payment intangible","url":"\/8.9A-107.1\/","token":"8.9A\/1\/1\/8.9A-107.1","metadata":false},{"id":77801,"structure_id":15319,"section_number":"8.9A-107.2","catch_line":"No requirement to acknowledge or confirm; no duties","url":"\/8.9A-107.2\/","token":"8.9A\/1\/1\/8.9A-107.2","metadata":false},{"id":82128,"structure_id":15319,"section_number":"8.9A-108","catch_line":"Sufficiency of description","url":"\/8.9A-108\/","token":"8.9A\/1\/1\/8.9A-108","metadata":false}],"previous_section":{"id":58325,"structure_id":15319,"section_number":"8.9A-101","catch_line":"Short title","url":"\/8.9A-101\/","token":"8.9A\/1\/1\/8.9A-101","metadata":false},"next_section":{"id":74460,"structure_id":15319,"section_number":"8.9A-103","catch_line":"Purchase-money security interest; application of payments; burden of establishing","url":"\/8.9A-103\/","token":"8.9A\/1\/1\/8.9A-103","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.9A-102\/","history_text":"

This law was first created in 1964. The record of its establishment is cataloged in chapter 219 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 1964 \u201cActs\u201d aren\u2019t available online. It has been modified 11 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 1966, chapter 394; in 1973, chapter 509; in 1983, chapter 204; in 1984, chapter 613; in 1996, chapters 77<\/a> and 216<\/a>; in 1997, chapter 343<\/a>; in 2000, chapter 1007<\/a>; in 2003, chapter 353<\/a>; in 2004, chapter 200<\/a>; in 2012, chapter 155<\/a>; in 2024, chapter 652<\/a>.<\/p>","references":[{"id":65407,"section_number":"11-4.3","catch_line":"When acceleration of payment or repossession of consumer goods not allowed","order_by":null,"url":"\/11-4.3\/"},{"id":63861,"section_number":"2.2-4902.1","catch_line":"Pledges and security interests created by governmental units","order_by":null,"url":"\/2.2-4902.1\/"},{"id":76938,"section_number":"29.1-733.2","catch_line":"Definitions","order_by":null,"url":"\/29.1-733.2\/"},{"id":78252,"section_number":"4.1-212","catch_line":"Permits required in certain instances","order_by":null,"url":"\/4.1-212\/"},{"id":60463,"section_number":"46.2-636.1","catch_line":"Security interests in farm tractors and special construction and forestry equipment","order_by":null,"url":"\/46.2-636.1\/"},{"id":74299,"section_number":"55.1-1300","catch_line":"Definitions","order_by":null,"url":"\/55.1-1300\/"},{"id":82799,"section_number":"55.1-655","catch_line":"Duties of filing officers","order_by":null,"url":"\/55.1-655\/"},{"id":55979,"section_number":"56-249.6:1","catch_line":"Financing for certain deferred fuel costs; Phase I Utilities.","order_by":null,"url":"\/56-249.6_1\/"},{"id":74921,"section_number":"56-249.6:2","catch_line":"Financing for certain deferred fuel costs; Phase II Utilities","order_by":null,"url":"\/56-249.6_2\/"},{"id":55267,"section_number":"56-249.8","catch_line":"Financing for certain securitized asset costs; Phase I Utility","order_by":null,"url":"\/56-249.8\/"},{"id":57216,"section_number":"59.1-353","catch_line":"Chapter title; definitions","order_by":null,"url":"\/59.1-353\/"},{"id":53993,"section_number":"6.2-437","catch_line":"Right of buyer of consumer goods to refinance certain payments; agreements as to fluctuation in schedule of payments","order_by":null,"url":"\/6.2-437\/"},{"id":58106,"section_number":"8.13-102","catch_line":"Definitions","order_by":null,"url":"\/8.13-102\/"},{"id":73102,"section_number":"8.2-103","catch_line":"Definitions and index of definitions","order_by":null,"url":"\/8.2-103\/"},{"id":86552,"section_number":"8.2A-103","catch_line":"Definitions and index of definitions","order_by":null,"url":"\/8.2A-103\/"},{"id":69812,"section_number":"8.8A-102","catch_line":"Definitions","order_by":null,"url":"\/8.8A-102\/"},{"id":67422,"section_number":"8.8A-103","catch_line":"Rules for determining whether certain obligations and interests are securities or financial assets","order_by":null,"url":"\/8.8A-103\/"},{"id":78518,"section_number":"8.9A-204.1","catch_line":"Security interests in consumer goods","order_by":null,"url":"\/8.9A-204.1\/"}],"refers_to":[{"id":67134,"section_number":"8.12-102","catch_line":"Definitions","order_by":null,"url":"\/8.12-102\/"},{"id":53978,"section_number":"8.12-105","catch_line":"Control of controllable electronic record","order_by":null,"url":"\/8.12-105\/"},{"id":65412,"section_number":"8.1A-102","catch_line":"Scope of title","order_by":null,"url":"\/8.1A-102\/"},{"id":70757,"section_number":"8.2-104","catch_line":"Definitions: \"Merchant\"; \"financing agency\"; \"between merchants.\"","order_by":null,"url":"\/8.2-104\/"},{"id":81888,"section_number":"8.2-106","catch_line":"Definitions: \"Contract\"; \"agreement\"; \"contract for sale\"; \"sale\"; \"present sale\"; \"conforming\" to contract; \"termination\"; \"cancellation\"; \"hybrid transaction.\"","order_by":null,"url":"\/8.2-106\/"},{"id":64663,"section_number":"8.2-401","catch_line":"Passing of title; reservation for security; limited application of this section","order_by":null,"url":"\/8.2-401\/"},{"id":65205,"section_number":"8.2-505","catch_line":"Seller's shipment under reservation","order_by":null,"url":"\/8.2-505\/"},{"id":71698,"section_number":"8.2-711","catch_line":"Buyer's remedies in general; buyer's security interest in rejected goods","order_by":null,"url":"\/8.2-711\/"},{"id":86552,"section_number":"8.2A-103","catch_line":"Definitions and index of definitions","order_by":null,"url":"\/8.2A-103\/"},{"id":62750,"section_number":"8.2A-508","catch_line":"Lessee's remedies","order_by":null,"url":"\/8.2A-508\/"},{"id":77332,"section_number":"8.3A-103","catch_line":"Definitions","order_by":null,"url":"\/8.3A-103\/"},{"id":82039,"section_number":"8.3A-104","catch_line":"Negotiable instrument","order_by":null,"url":"\/8.3A-104\/"},{"id":57239,"section_number":"8.3A-302","catch_line":"Holder in due course","order_by":null,"url":"\/8.3A-302\/"},{"id":73125,"section_number":"8.4-104","catch_line":"Definitions and index of definitions","order_by":null,"url":"\/8.4-104\/"},{"id":64339,"section_number":"8.4-210","catch_line":"Presentment by notice of item not payable by, through or at a bank; liability of drawer or endorser","order_by":null,"url":"\/8.4-210\/"},{"id":68166,"section_number":"8.5A-102","catch_line":"Definitions","order_by":null,"url":"\/8.5A-102\/"},{"id":72104,"section_number":"8.5A-114","catch_line":"Assignment of proceeds","order_by":null,"url":"\/8.5A-114\/"},{"id":67942,"section_number":"8.7-102","catch_line":"Definitions and index of definitions","order_by":null,"url":"\/8.7-102\/"},{"id":67103,"section_number":"8.7-106","catch_line":"Control of electronic document","order_by":null,"url":"\/8.7-106\/"},{"id":69812,"section_number":"8.8A-102","catch_line":"Definitions","order_by":null,"url":"\/8.8A-102\/"},{"id":78433,"section_number":"8.8A-201","catch_line":"Issuer","order_by":null,"url":"\/8.8A-201\/"},{"id":81304,"section_number":"8.8A-303","catch_line":"Protected purchaser","order_by":null,"url":"\/8.8A-303\/"},{"id":68902,"section_number":"8.8A-501","catch_line":"Securities account; acquisition of security entitlement from securities intermediary","order_by":null,"url":"\/8.8A-501\/"},{"id":74128,"section_number":"8.9A-203","catch_line":"Attachment and enforceability of security interest; proceeds, supporting obligations; formal requisites","order_by":null,"url":"\/8.9A-203\/"},{"id":57600,"section_number":"8.9A-310","catch_line":"When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply","order_by":null,"url":"\/8.9A-310\/"},{"id":72400,"section_number":"8.9A-501","catch_line":"Filing office","order_by":null,"url":"\/8.9A-501\/"},{"id":70542,"section_number":"8.9A-502","catch_line":"Contents of financing statement; record of mortgage as financing statement; time of filing financing statement","order_by":null,"url":"\/8.9A-502\/"},{"id":76317,"section_number":"8.9A-609","catch_line":"Secured party's right to take possession after default","order_by":null,"url":"\/8.9A-609\/"},{"id":83620,"section_number":"8.9A-620","catch_line":"Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral","order_by":null,"url":"\/8.9A-620\/"},{"id":69990,"section_number":"8.9A-621","catch_line":"Notification of proposal to accept collateral","order_by":null,"url":"\/8.9A-621\/"}],"permalink":{"id":283843,"object_type":"law","relational_id":58431,"identifier":"8.9A-102","token":"8.9A\/1\/1\/8.9A-102","url":"\/8.9A-102\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.9A-102\/","token":"8.9A\/1\/1\/8.9A-102","dublin_core":{"Title":"Definitions and index of definitions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.9A-102","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> Title 8.9A definitions. In this title: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> “Accession<\/span>” means goods<\/span> that are physically united with other goods<\/span> in such a manner that the identity of the original goods<\/span> is not lost. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> “Account,” except as used in “account for,” “account statement,” “account to,” “commodity account<\/span>” in paragraph (14), “customer’s account,” “deposit account<\/span>” in paragraph (29), “on account of,” and “statement of account,” means a right to payment of a monetary obligation, whether or not earned by performance, (i) for property that has been or is to be sold, leased, licensed, assigned, or otherwise disposed of, (ii) for services rendered or to be rendered, (iii) for a policy of insurance issued or to be issued, (iv) for a secondary obligation incurred or to be incurred, (v) for energy provided or to be provided, (vi) for the use or hire of a vessel under a charter or other contract<\/span>, (vii) arising out of the use of a credit or charge card or information contained on or for use with the card, or (viii) health-care-insurance receivables<\/span>. The term includes controllable accounts<\/span>. The term does not include (i) chattel paper, (ii) commercial tort claims<\/span>, (iii) deposit accounts<\/span>, (iv) investment property<\/span>, (v) letter-of-credit rights<\/span> or letters of credit, (vi) rights to payment for money or funds advanced or sold, other than rights arising out of the use of a credit or charge card or information contained on or for use with the card, or (vii) rights to payment evidenced by an instrument<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> “Account debtor<\/span>” means a person obligated on an account, chattel paper, or general intangible<\/span>. The term does not include persons obligated to pay a negotiable instrument<\/span>, even if the negotiable instrument<\/span> evidences<\/span> chattel paper. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> “Accounting,” except as used in “accounting for,” means a record: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> signed by a secured party<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> indicating the aggregate unpaid secured obligations as of a date not more than 35 days earlier or 35 days later than the date of the record; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> identifying the components of the obligations in reasonable detail. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> “Agricultural lien<\/span>” means an interest, other than a security interest, in farm products<\/span>: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> which secures payment or performance of an obligation for: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

i.<\/span> goods<\/span> or services furnished in connection with a debtor’s farming operation<\/span>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

ii.<\/span> rent on real property leased by a debtor in connection with its farming operation<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> which is created by statute<\/span> in favor of a person that: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

i.<\/span> in the ordinary course of its business furnished goods<\/span> or services to a debtor in connection with a debtor’s farming operation<\/span>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

ii.<\/span> leased real property to a debtor in connection with the debtor’s farming operation<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> whose effectiveness does not depend on the person’s possession<\/span> of the personal property. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> “As-extracted collateral<\/span>” means: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> oil, gas, or other minerals that are subject to a security interest that: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

i.<\/span> is created by a debtor having an interest in the minerals before extraction; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

ii.<\/span> attaches to the minerals as extracted; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> accounts arising out of the sale at the wellhead or minehead of oil, gas, or other minerals in which the debtor had an interest before extraction. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> [Reserved.] <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7A.<\/span> “Assignee,” except as used in “assignee for benefit of creditors<\/span>,” means a person (i) in whose favor a security interest that secures an obligation is created or provided for under a security agreement<\/span>, whether or not the obligation is outstanding or (ii) to which an account, chattel paper, payment intangible<\/span>, or promissory note<\/span> has been sold. The term includes a person to which a security interest has been transferred by a secured party<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7B.<\/span> “Assignor<\/span>” means a person that (i) under a security agreement<\/span> creates or provides for a security interest that secures an obligation or (ii) sells an account, chattel paper, payment intangible<\/span>, or promissory note<\/span>. The term includes a secured party<\/span> that has transferred a security interest to another person. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> “Bank<\/span>” means an organization that is engaged in the business of banking. The term includes savings banks<\/span>, savings and loan associations, credit unions, and trust companies. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

9.<\/span> “Cash proceeds<\/span>” means proceeds that are money, checks, deposit accounts<\/span>, or the like. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

10.<\/span> “Certificate of title<\/span>” means a certificate of title<\/span> with respect to which a statute<\/span> provides for the security interest in question to be indicated on the certificate as a condition or result of the security interest’s obtaining priority over the rights of a lien creditor<\/span> with respect to the collateral<\/span>. The term includes another record maintained as an alternative to a certificate of title<\/span> by the governmental unit<\/span> that issues<\/span> certificates of title if a statute<\/span> permits the security interest in question to be indicated on the record as a condition or result of the security interest’s obtaining priority over the rights of a lien creditor<\/span> with respect to the collateral<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

11.<\/span> “Chattel paper” means: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> a right to payment of a monetary obligation secured by specific goods<\/span>, if the right to payment and security agreement<\/span> are evidenced by a record; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> a right to payment of a monetary obligation owed by a lessee under a lease agreement with respect to specific goods<\/span> and a monetary obligation owed by the lessee in connection with the transaction giving rise to the lease, if: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

i.<\/span> the right to payment and lease agreement are evidenced by a record; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

ii.<\/span> the predominant purpose of the transaction giving rise to the lease was to give the lessee the right to possession<\/span> and use of the goods<\/span>.\n\t\t\t\tThe term does not include a right to payment arising out of a charter or other contract<\/span> involving the use or hire of a vessel or a right to payment arising out of the use of a credit or charge card or information contained on or for use with the card. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

12.<\/span> “Collateral<\/span>” means the property subject to a security interest or agricultural lien<\/span>. The term includes: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> proceeds to which a security interest attaches; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> accounts, chattel paper, payment intangibles<\/span>, and promissory notes<\/span> that have been sold; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> goods<\/span> that are the subject of a consignment<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

13.<\/span> “Commercial tort claim<\/span>” means a claim arising in tort with respect to which: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> the claimant is an organization; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> the claimant is an individual and the claim: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

i.<\/span> arose in the course of the claimant’s business or profession; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

ii.<\/span> does not include damages<\/span> arising out of personal injury to or the death of an individual. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

14.<\/span> “Commodity account<\/span>” means an account maintained by a commodity intermediary<\/span> in which a commodity contract<\/span> is carried for a commodity customer<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

15.<\/span> “Commodity contract<\/span>” means a commodity futures contract, an option on a commodity futures contract, a commodity option, or another contract if the contract or option is: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> traded on or subject to the rules of a board of trade that has been designated as a contract market for such a contract pursuant to federal commodities laws<\/span>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> traded on a foreign commodity board of trade, exchange, or market, and is carried on the books of a commodity intermediary<\/span> for a commodity customer<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

16.<\/span> “Commodity customer<\/span>” means a person for which a commodity intermediary<\/span> carries a commodity contract<\/span> on its books. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

17.<\/span> “Commodity intermediary<\/span>” means a person that: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> is registered as a futures commission merchant under federal commodities law<\/span>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> in the ordinary course of its business provides clearance or settlement<\/span> services for a board of trade that has been designated as a contract market pursuant to federal commodities law<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

18.<\/span> “Communicate” means: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> to send a written or other tangible record; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> to transmit a record by any means agreed upon by the persons sending and receiving the record; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> in the case of transmission of a record to or by a filing office<\/span>, to transmit a record by any means prescribed by filing-office rule<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

19.<\/span> “Consignee<\/span>” means a merchant to which goods<\/span> are delivered in a consignment<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

20.<\/span> “Consignment<\/span>” means a transaction, regardless of its form, in which a person delivers goods<\/span> to a merchant for the purpose of sale and: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> the merchant: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

i.<\/span> deals in goods<\/span> of that kind under a name other than the name of the person making delivery; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

ii.<\/span> is not an auctioneer; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

iii.<\/span> is not generally known by its creditors<\/span> to be substantially engaged in selling the goods<\/span> of others; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> with respect to each delivery, the aggregate value of the goods<\/span> is $1,000 or more at the time of delivery; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> the goods are not consumer goods<\/span> immediately before delivery; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> the transaction does not create a security interest that secures an obligation. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

21.<\/span> “Consignor<\/span>” means a person that delivers goods to a consignee<\/span> in a consignment<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

22.<\/span> “Consumer debtor<\/span>” means a debtor in a consumer transaction<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

23.<\/span> “Consumer goods<\/span>” means goods that are used or bought for use primarily for personal, family, or household purposes. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

24.<\/span> “Consumer-goods transaction<\/span>” means a consumer transaction<\/span> in which: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> an individual incurs an obligation primarily for personal, family, or household purposes; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> a security interest in consumer goods<\/span> secures the obligation. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

25.<\/span> “Consumer obligor<\/span>” means an obligor who is an individual and who incurred the obligation as part of a transaction entered into primarily for personal, family, or household purposes. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

26.<\/span> “Consumer transaction<\/span>” means a transaction in which (i) an individual incurs an obligation primarily for personal, family, or household purposes, (ii) a security interest secures the obligation, and (iii) the collateral<\/span> is held or acquired primarily for personal, family, or household purposes. The term includes consumer-goods transactions<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

27.<\/span> “Continuation statement<\/span>” means an amendment of a financing statement<\/span> which: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> identifies, by its file number<\/span>, the initial financing statement<\/span> to which it relates; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> indicates that it is a continuation statement<\/span> for, or that it is filed to continue the effectiveness of, the identified financing statement<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

27A.<\/span> “Controllable account<\/span>” means an account evidenced by a controllable electronic record that provides that the account debtor<\/span> undertakes to pay the person that has control under § 8.12-105<\/a> of the controllable electronic record. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

27B.<\/span> “Controllable payment intangible<\/span>” means a payment intangible evidenced by a controllable electronic record that provides that the account debtor<\/span> undertakes to pay the person that has control under § 8.12-105<\/a> of the controllable electronic record. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

28.<\/span> “Debtor” means: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> a person having an interest, other than a security interest or other lien, in the collateral<\/span>, whether or not the person is an obligor; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> a seller of accounts, chattel paper, payment intangibles<\/span>, or promissory notes<\/span>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> a consignee<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

29.<\/span> “Deposit account<\/span>” means a demand, time, savings, passbook, or similar account maintained with a bank<\/span>. The term does not include investment property<\/span> or accounts evidenced by an instrument<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

30.<\/span> “Document<\/span>” means a document<\/span> of title or a receipt of the type described in subdivision (2) of § 8.7-201<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

31.<\/span> [Reserved.] <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

31A.<\/span> “Electronic money<\/span>” means money in an electronic form. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

32.<\/span> “Encumbrance<\/span>” means a right, other than an ownership interest, in real property. The term includes mortgages<\/span> and other liens<\/span> on real property. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

33.<\/span> “Equipment<\/span>” means goods other than inventory<\/span>, farm products<\/span>, or consumer goods<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

34.<\/span> “Farm products<\/span>” means goods, other than standing timber, with respect to which the debtor is engaged in a farming operation<\/span> and which are: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> crops grown, growing, or to be grown, including: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

i.<\/span> crops produced on trees, vines, and bushes; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

ii.<\/span> aquatic goods produced in aquacultural operations; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> livestock, born or unborn, including aquatic goods produced in aquacultural operations; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> supplies used or produced in a farming operation<\/span>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> products of crops or livestock in their unmanufactured states<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

35.<\/span> “Farming operation<\/span>” means raising, cultivating, propagating, fattening, grazing, or any other farming, livestock, or aquacultural operation. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

36.<\/span> “File number<\/span>” means the number assigned to an initial financing statement<\/span> pursuant to subsection (a) of § 8.9A-519<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

37.<\/span> “Filing office<\/span>” means an office designated in § 8.9A-501<\/a> as the place to file a financing statement<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

38.<\/span> “Filing-office rule<\/span>” means a rule adopted pursuant to § 8.9A-526<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

39.<\/span> “Financing statement<\/span>” means a record or records composed of an initial financing statement<\/span> and any filed record relating to the initial financing statement<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

40.<\/span> “Fixture filing<\/span>” means the filing of a financing statement<\/span> covering goods that are or are to become fixtures<\/span> and satisfying subsections (a) and (b) of § 8.9A-502<\/a>. The term includes the filing of a financing statement<\/span> covering goods of a transmitting utility<\/span> which are or are to become fixtures<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

41.<\/span> “Fixtures<\/span>” means goods that have become so related to particular real property that an interest in them arises under real property law<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

42.<\/span> “General intangible<\/span>” means any personal property, including things in action, other than accounts, chattel paper, commercial tort claims<\/span>, deposit accounts<\/span>, documents<\/span>, goods, instruments<\/span>, investment property<\/span>, letter-of-credit rights<\/span>, letters of credit, money, and oil, gas, or other minerals before extraction. The term includes controllable electronic records, payment intangibles<\/span>, and software<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

43.<\/span> “Good faith<\/span>” means honesty in fact<\/span> and the observance of reasonable commercial standards of fair dealing. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

44.<\/span> “Goods” means all things that are movable when a security interest attaches. The term includes (i) fixtures<\/span>, (ii) standing timber that is to be cut and removed under a conveyance or contract for sale, (iii) the unborn young of animals, (iv) crops grown, growing, or to be grown, even if the crops are produced on trees, vines, or bushes, and (v) manufactured homes<\/span>. The term also includes a computer program embedded in goods and any supporting information provided in connection with a transaction relating to the program if (i) the program is associated with the goods in such a manner that it customarily is considered part of the goods or (ii) by becoming the owner of the goods, a person acquires a right to use the program in connection with the goods. The term does not include a computer program embedded in goods that consist solely of the medium in which the program is embedded. The term also does not include accounts, chattel paper, commercial tort claims<\/span>, deposit accounts<\/span>, documents<\/span>, general intangibles<\/span>, instruments<\/span>, investment property<\/span>, letter-of-credit rights<\/span>, letters of credit, money, or oil, gas, or other minerals before extraction. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

45.<\/span> “Governmental unit<\/span>” means a subdivision, agency, department, county, parish, municipality, or other unit of the government of the United States<\/span>, a State<\/span>, or a foreign country. The term includes an organization having a separate corporate existence if the organization is eligible to issue<\/span> debt on which interest is exempt from income taxation under the laws<\/span> of the United States<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

46.<\/span> “Health-care-insurance receivable<\/span>” means an interest in or claim under a policy of insurance which is a right to payment of a monetary obligation for health-care goods or services provided. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

47.<\/span> “Instrument<\/span>” means a negotiable instrument<\/span> or any other writing that evidences<\/span> a right to the payment of a monetary obligation, is not itself a security agreement<\/span> or lease, and is of a type that in ordinary course of business is transferred by delivery with any necessary endorsement or assignment. The term does not include (i) investment property<\/span>, (ii) letters of credit, (iii) writings that evidence<\/span> a right to payment arising out of the use of a credit or charge card or information contained on or for use with the card, or (iv) writings that evidence<\/span> chattel paper. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

48.<\/span> “Inventory<\/span>” means goods, other than farm products<\/span>, which: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> are leased by a person as lessor; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> are held by a person for sale or lease or to be furnished under a contract of service; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> are furnished by a person under a contract of service; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> consist of raw materials<\/span>, work in process, or materials<\/span> used or consumed in a business. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

49.<\/span> “Investment property<\/span>” means a security, whether certificated or uncertificated, security entitlement, securities account, commodity contract<\/span>, or commodity account<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

50.<\/span> “Jurisdiction<\/span> of organization,” with respect to a registered organization<\/span>, means the jurisdiction<\/span> under whose law<\/span> the organization is formed or organized. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

51.<\/span> “Letter-of-credit right<\/span>” means a right to payment or performance under a letter of credit, whether or not the beneficiary has demanded or is at the time entitled to demand payment or performance. The term does not include the right of a beneficiary to demand payment or performance under a letter of credit. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

52.<\/span> “Lien creditor<\/span>” means: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> a creditor<\/span> that has acquired a lien on the property involved by attachment<\/span>, levy<\/span>, or the like; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> an assignee for benefit of creditors<\/span> from the time of assignment; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> a trustee in bankruptcy<\/span> from the date of the filing of the petition<\/span>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> a receiver in equity<\/span> from the time of appointment. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

53.<\/span> “Manufactured home<\/span>” means a structure, transportable in one or more sections, which, in the traveling mode, is eight body feet or more in width or 40 body feet or more in length, or, when erected on site, is 320 or more square feet, and which is built on a permanent chassis and designed to be used as a dwelling with or without a permanent foundation when connected to the required utilities, and includes the plumbing, heating, air-conditioning, and electrical systems contained therein. The term includes any structure that meets all of the requirements of this paragraph except the size requirements and with respect to which the manufacturer voluntarily files a certification required by the United States<\/span> Secretary of Housing and Urban Development and complies with the standards established under Title 42 of the United States<\/span> Code. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

54.<\/span> “Manufactured-home transaction<\/span>” means a secured transaction: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> that creates a purchase-money security interest in a manufactured home<\/span>, other than a manufactured home<\/span> held as inventory<\/span>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> in which a manufactured home<\/span>, other than a manufactured home<\/span> held as inventory<\/span>, is the primary collateral<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

54A.<\/span> “Money” has the meaning in § 8.1A-102<\/a>(b)(24), but does not include (i) a deposit account<\/span> or (ii) money in an electronic form that cannot be subjected to control under § 8.9A-105.1<\/a> <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

55.<\/span> “Mortgage<\/span>” means a consensual interest in real property, including fixtures<\/span>, which secures payment or performance of an obligation. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

56.<\/span> “New debtor<\/span>” means a person that becomes bound as debtor under subsection (d) of § 8.9A-203<\/a> by a security agreement<\/span> previously entered into by another person. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

57.<\/span> “New value<\/span>” means (i) money, (ii) money’s worth in property, services, or new credit, or (iii) release by a transferee of an interest in property previously transferred to the transferee. The term does not include an obligation substituted for another obligation. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

58.<\/span> “Noncash proceeds<\/span>” means proceeds other than cash proceeds<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

59.<\/span> “Obligor” means a person that, with respect to an obligation secured by a security interest in or an agricultural lien<\/span> on the collateral<\/span>, (i) owes payment or other performance of the obligation, (ii) has provided property other than the collateral<\/span> to secure payment or other performance of the obligation, or (iii) is otherwise accountable in whole or in part for payment or other performance of the obligation. The term does not include issuers or nominated persons under a letter of credit. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

60.<\/span> “Original debtor,” except as used in subsection (c) of § 8.9A-310<\/a>, means a person that, as debtor, entered into a security agreement<\/span> to which a new debtor<\/span> has become bound under subsection (d) of § 8.9A-203<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

61.<\/span> “Payment intangible” means a general intangible<\/span> under which the account debtor<\/span>’s principal obligation is a monetary obligation. The term includes a controllable payment intangible<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

62.<\/span> “Person related to,” with respect to an individual, means: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> the spouse of the individual; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> a brother, brother-in-law<\/span>, sister, or sister-in-law<\/span> of the individual; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> an ancestor or lineal descendant of the individual or the individual’s spouse; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> any other relative, by blood or marriage, of the individual or the individual’s spouse who shares the same home with the individual. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

63.<\/span> “Person related to,” with respect to an organization, means: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> a person directly or indirectly controlling, controlled by, or under common control with the organization; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> an officer or director of, or a person performing similar functions with respect to, the organization; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> an officer or director of, or a person performing similar functions with respect to, a person described in subparagraph (A); <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> the spouse of an individual described in subparagraph (A), (B), or (C); or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> an individual who is related by blood or marriage to an individual described in subparagraph (A), (B), (C), or (D) and shares the same home with the individual. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

64.<\/span> “Proceeds,” except as used in subsection (b) of § 8.9A-609<\/a>, means the following property: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> whatever is acquired upon the sale, lease, license, exchange, or other disposition<\/span> of collateral<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> whatever is collected on, or distributed on account of, collateral<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> rights arising out of collateral<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> to the extent of the value of collateral<\/span>, claims arising out of the loss, nonconformity, or interference with the use of, defects or infringement of rights in, or damage to, the collateral<\/span>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> to the extent of the value of collateral<\/span> and to the extent payable to the debtor or the secured party<\/span>, insurance payable by reason of the loss or nonconformity of, defects or infringement of rights in, or damage to, the collateral<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

65.<\/span> “Promissory note<\/span>” means an instrument<\/span> that evidences<\/span> a promise to pay a monetary obligation, does not evidence<\/span> an order<\/span> to pay, and does not contain an acknowledgment by a bank<\/span> that the bank<\/span> has received for deposit a sum of money or funds. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

66.<\/span> “Proposal<\/span>” means a record signed by a secured party<\/span> which includes the terms on which the secured party<\/span> is willing to accept collateral<\/span> in full or partial satisfaction of the obligation it secures pursuant to §§ 8.9A-620<\/a>, 8.9A-621<\/a>, and 8.9A-622<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

67.<\/span> “Public-finance transaction<\/span>” means a secured transaction in connection with which: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> debt securities are issued; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> all or a portion of the securities issued have an initial stated maturity of at least 20 years; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> the debtor, obligor, secured party<\/span>, account debtor<\/span> or other person obligated on collateral<\/span>, assignor<\/span> or assignee of a secured obligation, or assignor<\/span> or assignee of a security interest is a state<\/span> or a governmental unit<\/span> of a state<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

68.<\/span> “Public organic record<\/span>” means a record that is available to the public for inspection and that is: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> a record consisting of the record initially filed with or issued by a state<\/span> or the United States<\/span> to form or organize an organization and any record filed with or issued by the state<\/span> or the United States<\/span> which amends<\/span> or restates the initial record; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> an organic record of a business trust consisting of the record initially filed with a state<\/span> and any record filed with the state<\/span> which amends<\/span> or restates the initial record, if a statute<\/span> of the state<\/span> governing business trusts requires that the record be filed with the state<\/span>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> a record consisting of legislation enacted by the legislature of a state<\/span> or the Congress of the United States<\/span> which forms or organizes an organization, any record amending the legislation, and any record filed with or issued by the state<\/span> or the United States<\/span> which amends<\/span> or restates the name of the organization. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

69.<\/span> “Pursuant to commitment,” with respect to an advance made or other value given by a secured party<\/span>, means pursuant to the secured party<\/span>’s obligation, whether or not a subsequent event of default<\/span> or other event not within the secured party<\/span>’s control has relieved or may relieve the secured party<\/span> from its obligation. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

70.<\/span> “Record,” except as used in “for record,” “of record,” “record or legal title,” and “record owner,” means information that is inscribed on a tangible medium or which is stored in an electronic or other medium and is retrievable in perceivable form. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

71.<\/span> “Registered organization<\/span>” means an organization formed or organized solely under the law<\/span> of a single state<\/span> or the United States<\/span> by the filing of a public organic record<\/span> with, the issuance of a public organic record<\/span> by, or the enactment of legislation by the state<\/span> or the United States<\/span>. The term includes a business trust that is formed or organized under the law<\/span> of a single state<\/span> if a statute<\/span> of the state<\/span> governing business trusts requires that the business trust’s organic record be filed with the state<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

72.<\/span> “Secondary obligor<\/span>” means an obligor to the extent that: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> the obligor’s obligation is secondary; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> the obligor has a right of recourse with respect to an obligation secured by collateral<\/span> against the debtor, another obligor, or property of either. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

73.<\/span> “Secured party<\/span>” means: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> a person in whose favor a security interest is created or provided for under a security agreement<\/span>, whether or not any obligation to be secured is outstanding; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> a person that holds an agricultural lien<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> a consignor<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> a person to which accounts, chattel paper, payment intangibles<\/span>, or promissory notes<\/span> have been sold; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> a trustee, indenture trustee, agent, collateral<\/span> agent, or other representative in whose favor a security interest or agricultural lien<\/span> is created or provided for; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> a person that holds a security interest arising under \u00a7 8.2-401<\/a>, 8.2-505<\/a>, 8.2-711<\/a> (3), 8.2A-508<\/a> (5), 8.4-210<\/a>, or 8.5A-118<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

74.<\/span> “Security agreement<\/span>” means an agreement that creates or provides for a security interest. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

75.<\/span> [Reserved.] <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

76.<\/span> “Software<\/span>” means a computer program and any supporting information provided in connection with a transaction relating to the program. The term does not include a computer program that is included in the definition of goods. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

77.<\/span> “State<\/span>” means a state<\/span> of the United States<\/span>, the District of Columbia, Puerto Rico, the United States<\/span> Virgin Islands, or any territory or insular possession<\/span> subject to the jurisdiction<\/span> of the United States<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

78.<\/span> “Supporting obligation<\/span>” means a letter of credit right or secondary obligation that supports the payment or performance of an account, chattel paper, a document<\/span>, a general intangible<\/span>, an instrument<\/span>, or investment property<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

79.<\/span> [Reserved.] <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

79A.<\/span> “Tangible money<\/span>” means money in a tangible form. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

80.<\/span> “Termination statement<\/span>” means an amendment of a financing statement<\/span> which: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> identifies, by its file number<\/span>, the initial financing statement<\/span> to which it relates; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> indicates either that it is a termination statement<\/span> or that the identified financing statement<\/span> is no longer effective. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

81.<\/span> “Transmitting utility<\/span>” means a person primarily engaged in the business of: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> operating a railroad, subway, street railway, or trolley bus; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> transmitting communications electrically, electromagnetically, or by light; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> transmitting goods by pipeline or sewer; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> transmitting or producing and transmitting electricity, steam, gas, or water. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> Definitions in other titles. The following definitions in other titles apply to this title:\n\t\t\t“Applicant” § 8.5A-102<\/a>.\n\t\t\t“Beneficiary” § 8.5A-102<\/a>.\n\t\t\t“Broker” § 8.8A-102<\/a>.\n\t\t\t“Certificated security” § 8.8A-102<\/a>.\n\t\t\t“Check” § 8.3A-104<\/a>.\n\t\t\t“Clearing corporation” § 8.8A-102<\/a>.\n\t\t\t“Contract for sale” § 8.2-106<\/a>.\n\t\t\t“Control” § 8.7-106<\/a>.\n\t\t\t“Controllable electronic record” § 8.12-102<\/a>.\n\t\t\t“Customer” § 8.4-104<\/a>.\n\t\t\t“Entitlement holder” § 8.8A-102<\/a>.\n\t\t\t“Financial asset” § 8.8A-102<\/a>.\n\t\t\t“Holder in due course” § 8.3A-302<\/a>.\n\t\t\t“Issuer” (with respect to a letter of credit or letter-of-credit right<\/span>) § 8.5A-102<\/a>.\n\t\t\t“Issuer” (with respect to a security) § 8.8A-201<\/a>.\n\t\t\t“Issuer” (with respect to documents<\/span> of title) § 8.7-102<\/a>.\n\t\t\t“Lease” § 8.2A-103<\/a>.\n\t\t\t“Lease agreement” § 8.2A-103<\/a>.\n\t\t\t“Lease contract” § 8.2A-103<\/a>.\n\t\t\t“Leasehold interest” § 8.2A-103<\/a>.\n\t\t\t“Lessee” § 8.2A-103<\/a>.\n\t\t\t“Lessee in ordinary course of business” § 8.2A-103<\/a>.\n\t\t\t“Lessor” § 8.2A-103<\/a>.\n\t\t\t“Lessor’s residual interest” § 8.2A-103<\/a>.\n\t\t\t“Letter of credit” § 8.5A-102<\/a>.\n\t\t\t“Merchant” § 8.2-104<\/a>.\n\t\t\t“Negotiable instrument<\/span>” § 8.3A-104<\/a>.\n\t\t\t“Nominated person” § 8.5A-102<\/a>.\n\t\t\t“Note” § 8.3A-104<\/a>.\n\t\t\t“Proceeds of a letter of credit” § 8.5A-114<\/a>.\n\t\t\t“Protected purchaser” § 8.8A-303<\/a>.\n\t\t\t“Prove” § 8.3A-103<\/a>.\n\t\t\t“Qualifying purchaser” § 8.12-102<\/a>.\n\t\t\t“Sale” § 8.2-106<\/a>.\n\t\t\t“Securities account” § 8.8A-501<\/a>.\n\t\t\t“Securities intermediary” § 8.8A-102<\/a>.\n\t\t\t“Security” § 8.8A-102<\/a>.\n\t\t\t“Security certificate” § 8.8A-102<\/a>.\n\t\t\t“Security entitlement” § 8.8A-102<\/a>.\n\t\t\t“Uncertificated security” § 8.8A-102<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

c.<\/span> Title 8.1A definitions and principles. Title 8.1A contains general definitions and principles of construction and interpretation applicable throughout this title. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDEFINITIONS AND INDEX OF DEFINITIONS (\u00a7 8.9A-102)\n\na. Title 8.9A definitions. In this title:\n\n 1. “Accession” means goods that are physically united with other\n goods in such a manner that the identity of the original goods is not lost.\n\n 2. “Account,” except as used in “account for,”\n “account statement,” “account to,” “commodity\n account” in paragraph (14), “customer’s account,”\n “deposit account” in paragraph (29), “on account of,”\n and “statement of account,” means a right to payment of a monetary\n obligation, whether or not earned by performance, (i) for property that has\n been or is to be sold, leased, licensed, assigned, or otherwise disposed of,\n (ii) for services rendered or to be rendered, (iii) for a policy of insurance\n issued or to be issued, (iv) for a secondary obligation incurred or to be\n incurred, (v) for energy provided or to be provided, (vi) for the use or hire\n of a vessel under a charter or other contract, (vii) arising out of the use of\n a credit or charge card or information contained on or for use with the card,\n or (viii) health-care-insurance receivables. The term includes controllable\n accounts. The term does not include (i) chattel paper, (ii) commercial tort\n claims, (iii) deposit accounts, (iv) investment property, (v) letter-of-credit\n rights or letters of credit, (vi) rights to payment for money or funds\n advanced or sold, other than rights arising out of the use of a credit or\n charge card or information contained on or for use with the card, or (vii)\n rights to payment evidenced by an instrument.\n\n 3. “Account debtor” means a person obligated on an account,\n chattel paper, or general intangible. The term does not include persons\n obligated to pay a negotiable instrument, even if the negotiable instrument\n evidences chattel paper.\n\n 4. “Accounting,” except as used in “accounting for,”\n means a record:\n\nA. signed by a secured party;\n\nB. indicating the aggregate unpaid secured obligations as of a date not more\nthan 35 days earlier or 35 days later than the date of the record; and\n\nC. identifying the components of the obligations in reasonable detail.\n\n 5. “Agricultural lien” means an interest, other than a security\n interest, in farm products:\n\nA. which secures payment or performance of an obligation for:\n\ni. goods or services furnished in connection with a debtor’s farming\noperation; or\n\n ii. rent on real property leased by a debtor in connection with its farming\n operation;\n\nB. which is created by statute in favor of a person that:\n\ni. in the ordinary course of its business furnished goods or services to a\ndebtor in connection with a debtor’s farming operation; or\n\n ii. leased real property to a debtor in connection with the debtor’s\n farming operation; and\n\nC. whose effectiveness does not depend on the person’s possession of the\npersonal property.\n\n 6. “As-extracted collateral” means:\n\nA. oil, gas, or other minerals that are subject to a security interest that:\n\ni. is created by a debtor having an interest in the minerals before extraction;\nand\n\n ii. attaches to the minerals as extracted; or\n\nB. accounts arising out of the sale at the wellhead or minehead of oil, gas, or\nother minerals in which the debtor had an interest before extraction.\n\n 7. [Reserved.]\n\n 7A. “Assignee,” except as used in “assignee for benefit of\n creditors,” means a person (i) in whose favor a security interest that\n secures an obligation is created or provided for under a security agreement,\n whether or not the obligation is outstanding or (ii) to which an account,\n chattel paper, payment intangible, or promissory note has been sold. The\n term includes a person to which a security interest has been transferred by\n a secured party.\n\n 7B. “Assignor” means a person that (i) under a security\n agreement creates or provides for a security interest that secures an\n obligation or (ii) sells an account, chattel paper, payment intangible, or\n promissory note. The term includes a secured party that has transferred a\n security interest to another person.\n\n 8. “Bank” means an organization that is engaged in the business of\n banking. The term includes savings banks, savings and loan associations,\n credit unions, and trust companies.\n\n 9. “Cash proceeds” means proceeds that are money, checks, deposit\n accounts, or the like.\n\n 10. “Certificate of title” means a certificate of title with\n respect to which a statute provides for the security interest in question to\n be indicated on the certificate as a condition or result of the security\n interest’s obtaining priority over the rights of a lien creditor with\n respect to the collateral. The term includes another record maintained as an\n alternative to a certificate of title by the governmental unit that issues\n certificates of title if a statute permits the security interest in question\n to be indicated on the record as a condition or result of the security\n interest’s obtaining priority over the rights of a lien creditor with\n respect to the collateral.\n\n 11. “Chattel paper” means:\n\nA. a right to payment of a monetary obligation secured by specific goods, if the\nright to payment and security agreement are evidenced by a record; or\n\nB. a right to payment of a monetary obligation owed by a lessee under a lease\nagreement with respect to specific goods and a monetary obligation owed by the\nlessee in connection with the transaction giving rise to the lease, if:\n\ni. the right to payment and lease agreement are evidenced by a record; and\n\n ii. the predominant purpose of the transaction giving rise to the lease was to\n give the lessee the right to possession and use of the goods.\n \t\t\t\tThe term does not include a right to payment arising out of a charter or\n other contract involving the use or hire of a vessel or a right to payment\n arising out of the use of a credit or charge card or information contained on\n or for use with the card.\n\n 12. “Collateral” means the property subject to a security interest\n or agricultural lien. The term includes:\n\nA. proceeds to which a security interest attaches;\n\nB. accounts, chattel paper, payment intangibles, and promissory notes that have\nbeen sold; and\n\nC. goods that are the subject of a consignment.\n\n 13. “Commercial tort claim” means a claim arising in tort with\n respect to which:\n\nA. the claimant is an organization; or\n\nB. the claimant is an individual and the claim:\n\ni. arose in the course of the claimant’s business or profession; and\n\n ii. does not include damages arising out of personal injury to or the death of\n an individual.\n\n 14. “Commodity account” means an account maintained by a commodity\n intermediary in which a commodity contract is carried for a commodity\n customer.\n\n 15. “Commodity contract” means a commodity futures contract, an\n option on a commodity futures contract, a commodity option, or another\n contract if the contract or option is:\n\nA. traded on or subject to the rules of a board of trade that has been\ndesignated as a contract market for such a contract pursuant to federal\ncommodities laws; or\n\nB. traded on a foreign commodity board of trade, exchange, or market, and is\ncarried on the books of a commodity intermediary for a commodity customer.\n\n 16. “Commodity customer” means a person for which a commodity\n intermediary carries a commodity contract on its books.\n\n 17. “Commodity intermediary” means a person that:\n\nA. is registered as a futures commission merchant under federal commodities law;\nor\n\nB. in the ordinary course of its business provides clearance or settlement\nservices for a board of trade that has been designated as a contract market\npursuant to federal commodities law.\n\n 18. “Communicate” means:\n\nA. to send a written or other tangible record;\n\nB. to transmit a record by any means agreed upon by the persons sending and\nreceiving the record; or\n\nC. in the case of transmission of a record to or by a filing office, to transmit\na record by any means prescribed by filing-office rule.\n\n 19. “Consignee” means a merchant to which goods are delivered in a\n consignment.\n\n 20. “Consignment” means a transaction, regardless of its form, in\n which a person delivers goods to a merchant for the purpose of sale and:\n\nA. the merchant:\n\ni. deals in goods of that kind under a name other than the name of the person\nmaking delivery;\n\n ii. is not an auctioneer; and\n\n iii. is not generally known by its creditors to be substantially engaged in\n selling the goods of others;\n\nB. with respect to each delivery, the aggregate value of the goods is $1,000 or\nmore at the time of delivery;\n\nC. the goods are not consumer goods immediately before delivery; and\n\nD. the transaction does not create a security interest that secures an\nobligation.\n\n 21. “Consignor” means a person that delivers goods to a consignee\n in a consignment.\n\n 22. “Consumer debtor” means a debtor in a consumer transaction.\n\n 23. “Consumer goods” means goods that are used or bought for use\n primarily for personal, family, or household purposes.\n\n 24. “Consumer-goods transaction” means a consumer transaction in\n which:\n\nA. an individual incurs an obligation primarily for personal, family, or\nhousehold purposes; and\n\nB. a security interest in consumer goods secures the obligation.\n\n 25. “Consumer obligor” means an obligor who is an individual and\n who incurred the obligation as part of a transaction entered into primarily\n for personal, family, or household purposes.\n\n 26. “Consumer transaction” means a transaction in which (i) an\n individual incurs an obligation primarily for personal, family, or household\n purposes, (ii) a security interest secures the obligation, and (iii) the\n collateral is held or acquired primarily for personal, family, or household\n purposes. The term includes consumer-goods transactions.\n\n 27. “Continuation statement” means an amendment of a financing\n statement which:\n\nA. identifies, by its file number, the initial financing statement to which it\nrelates; and\n\nB. indicates that it is a continuation statement for, or that it is filed to\ncontinue the effectiveness of, the identified financing statement.\n\n 27A. “Controllable account” means an account evidenced by a\n controllable electronic record that provides that the account debtor\n undertakes to pay the person that has control under § 8.12-105 of the\n controllable electronic record.\n\n 27B. “Controllable payment intangible” means a payment intangible\n evidenced by a controllable electronic record that provides that the account\n debtor undertakes to pay the person that has control under § 8.12-105 of\n the controllable electronic record.\n\n 28. “Debtor” means:\n\nA. a person having an interest, other than a security interest or other lien, in\nthe collateral, whether or not the person is an obligor;\n\nB. a seller of accounts, chattel paper, payment intangibles, or promissory\nnotes; or\n\nC. a consignee.\n\n 29. “Deposit account” means a demand, time, savings, passbook, or\n similar account maintained with a bank. The term does not include investment\n property or accounts evidenced by an instrument.\n\n 30. “Document” means a document of title or a receipt of the type\n described in subdivision (2) of § 8.7-201.\n\n 31. [Reserved.]\n\n 31A. “Electronic money” means money in an electronic form.\n\n 32. “Encumbrance” means a right, other than an ownership interest,\n in real property. The term includes mortgages and other liens on real\n property.\n\n 33. “Equipment” means goods other than inventory, farm products,\n or consumer goods.\n\n 34. “Farm products” means goods, other than standing timber, with\n respect to which the debtor is engaged in a farming operation and which are:\n\nA. crops grown, growing, or to be grown, including:\n\ni. crops produced on trees, vines, and bushes; and\n\n ii. aquatic goods produced in aquacultural operations;\n\nB. livestock, born or unborn, including aquatic goods produced in aquacultural\noperations;\n\nC. supplies used or produced in a farming operation; or\n\nD. products of crops or livestock in their unmanufactured states.\n\n 35. “Farming operation” means raising, cultivating, propagating,\n fattening, grazing, or any other farming, livestock, or aquacultural\n operation.\n\n 36. “File number” means the number assigned to an initial\n financing statement pursuant to subsection (a) of § 8.9A-519.\n\n 37. “Filing office” means an office designated in § 8.9A-501\n as the place to file a financing statement.\n\n 38. “Filing-office rule” means a rule adopted pursuant to §\n 8.9A-526.\n\n 39. “Financing statement” means a record or records composed of an\n initial financing statement and any filed record relating to the initial\n financing statement.\n\n 40. “Fixture filing” means the filing of a financing statement\n covering goods that are or are to become fixtures and satisfying subsections\n (a) and (b) of § 8.9A-502. The term includes the filing of a financing\n statement covering goods of a transmitting utility which are or are to become\n fixtures.\n\n 41. “Fixtures” means goods that have become so related to\n particular real property that an interest in them arises under real property\n law.\n\n 42. “General intangible” means any personal property, including\n things in action, other than accounts, chattel paper, commercial tort claims,\n deposit accounts, documents, goods, instruments, investment property,\n letter-of-credit rights, letters of credit, money, and oil, gas, or other\n minerals before extraction. The term includes controllable electronic records,\n payment intangibles, and software.\n\n 43. “Good faith” means honesty in fact and the observance of\n reasonable commercial standards of fair dealing.\n\n 44. “Goods” means all things that are movable when a security\n interest attaches. The term includes (i) fixtures, (ii) standing timber that\n is to be cut and removed under a conveyance or contract for sale, (iii) the\n unborn young of animals, (iv) crops grown, growing, or to be grown, even if\n the crops are produced on trees, vines, or bushes, and (v) manufactured homes.\n The term also includes a computer program embedded in goods and any supporting\n information provided in connection with a transaction relating to the program\n if (i) the program is associated with the goods in such a manner that it\n customarily is considered part of the goods or (ii) by becoming the owner of\n the goods, a person acquires a right to use the program in connection with the\n goods. The term does not include a computer program embedded in goods that\n consist solely of the medium in which the program is embedded. The term also\n does not include accounts, chattel paper, commercial tort claims, deposit\n accounts, documents, general intangibles, instruments, investment property,\n letter-of-credit rights, letters of credit, money, or oil, gas, or other\n minerals before extraction.\n\n 45. “Governmental unit” means a subdivision, agency, department,\n county, parish, municipality, or other unit of the government of the United\n States, a State, or a foreign country. The term includes an organization\n having a separate corporate existence if the organization is eligible to issue\n debt on which interest is exempt from income taxation under the laws of the\n United States.\n\n 46. “Health-care-insurance receivable” means an interest in or\n claim under a policy of insurance which is a right to payment of a monetary\n obligation for health-care goods or services provided.\n\n 47. “Instrument” means a negotiable instrument or any other\n writing that evidences a right to the payment of a monetary obligation, is not\n itself a security agreement or lease, and is of a type that in ordinary course\n of business is transferred by delivery with any necessary endorsement or\n assignment. The term does not include (i) investment property, (ii) letters of\n credit, (iii) writings that evidence a right to payment arising out of the use\n of a credit or charge card or information contained on or for use with the\n card, or (iv) writings that evidence chattel paper.\n\n 48. “Inventory” means goods, other than farm products, which:\n\nA. are leased by a person as lessor;\n\nB. are held by a person for sale or lease or to be furnished under a contract of\nservice;\n\nC. are furnished by a person under a contract of service; or\n\nD. consist of raw materials, work in process, or materials used or consumed in a\nbusiness.\n\n 49. “Investment property” means a security, whether certificated\n or uncertificated, security entitlement, securities account, commodity\n contract, or commodity account.\n\n 50. “Jurisdiction of organization,” with respect to a registered\n organization, means the jurisdiction under whose law the organization is\n formed or organized.\n\n 51. “Letter-of-credit right” means a right to payment or\n performance under a letter of credit, whether or not the beneficiary has\n demanded or is at the time entitled to demand payment or performance. The term\n does not include the right of a beneficiary to demand payment or performance\n under a letter of credit.\n\n 52. “Lien creditor” means:\n\nA. a creditor that has acquired a lien on the property involved by attachment,\nlevy, or the like;\n\nB. an assignee for benefit of creditors from the time of assignment;\n\nC. a trustee in bankruptcy from the date of the filing of the petition; or\n\nD. a receiver in equity from the time of appointment.\n\n 53. “Manufactured home” means a structure, transportable in one or\n more sections, which, in the traveling mode, is eight body feet or more in\n width or 40 body feet or more in length, or, when erected on site, is 320 or\n more square feet, and which is built on a permanent chassis and designed to be\n used as a dwelling with or without a permanent foundation when connected to\n the required utilities, and includes the plumbing, heating, air-conditioning,\n and electrical systems contained therein. The term includes any structure that\n meets all of the requirements of this paragraph except the size requirements\n and with respect to which the manufacturer voluntarily files a certification\n required by the United States Secretary of Housing and Urban Development and\n complies with the standards established under Title 42 of the United States\n Code.\n\n 54. “Manufactured-home transaction” means a secured transaction:\n\nA. that creates a purchase-money security interest in a manufactured home, other\nthan a manufactured home held as inventory; or\n\nB. in which a manufactured home, other than a manufactured home held as\ninventory, is the primary collateral.\n\n 54A. “Money” has the meaning in § 8.1A-102(b)(24), but does\n not include (i) a deposit account or (ii) money in an electronic form that\n cannot be subjected to control under § 8.9A-105.1\n\n 55. “Mortgage” means a consensual interest in real property,\n including fixtures, which secures payment or performance of an obligation.\n\n 56. “New debtor” means a person that becomes bound as debtor under\n subsection (d) of § 8.9A-203 by a security agreement previously entered\n into by another person.\n\n 57. “New value” means (i) money, (ii) money’s worth in\n property, services, or new credit, or (iii) release by a transferee of an\n interest in property previously transferred to the transferee. The term does\n not include an obligation substituted for another obligation.\n\n 58. “Noncash proceeds” means proceeds other than cash proceeds.\n\n 59. “Obligor” means a person that, with respect to an obligation\n secured by a security interest in or an agricultural lien on the collateral,\n (i) owes payment or other performance of the obligation, (ii) has provided\n property other than the collateral to secure payment or other performance of\n the obligation, or (iii) is otherwise accountable in whole or in part for\n payment or other performance of the obligation. The term does not include\n issuers or nominated persons under a letter of credit.\n\n 60. “Original debtor,” except as used in subsection (c) of §\n 8.9A-310, means a person that, as debtor, entered into a security agreement to\n which a new debtor has become bound under subsection (d) of § 8.9A-203.\n\n 61. “Payment intangible” means a general intangible under which\n the account debtor’s principal obligation is a monetary obligation. The\n term includes a controllable payment intangible.\n\n 62. “Person related to,” with respect to an individual, means:\n\nA. the spouse of the individual;\n\nB. a brother, brother-in-law, sister, or sister-in-law of the individual;\n\nC. an ancestor or lineal descendant of the individual or the individual’s\nspouse; or\n\nD. any other relative, by blood or marriage, of the individual or the\nindividual’s spouse who shares the same home with the individual.\n\n 63. “Person related to,” with respect to an organization, means:\n\nA. a person directly or indirectly controlling, controlled by, or under common\ncontrol with the organization;\n\nB. an officer or director of, or a person performing similar functions with\nrespect to, the organization;\n\nC. an officer or director of, or a person performing similar functions with\nrespect to, a person described in subparagraph (A);\n\nD. the spouse of an individual described in subparagraph (A), (B), or (C); or\n\nE. an individual who is related by blood or marriage to an individual described\nin subparagraph (A), (B), (C), or (D) and shares the same home with the\nindividual.\n\n 64. “Proceeds,” except as used in subsection (b) of §\n 8.9A-609, means the following property:\n\nA. whatever is acquired upon the sale, lease, license, exchange, or other\ndisposition of collateral;\n\nB. whatever is collected on, or distributed on account of, collateral;\n\nC. rights arising out of collateral;\n\nD. to the extent of the value of collateral, claims arising out of the loss,\nnonconformity, or interference with the use of, defects or infringement of\nrights in, or damage to, the collateral; or\n\nE. to the extent of the value of collateral and to the extent payable to the\ndebtor or the secured party, insurance payable by reason of the loss or\nnonconformity of, defects or infringement of rights in, or damage to, the\ncollateral.\n\n 65. “Promissory note” means an instrument that evidences a promise\n to pay a monetary obligation, does not evidence an order to pay, and does not\n contain an acknowledgment by a bank that the bank has received for deposit a\n sum of money or funds.\n\n 66. “Proposal” means a record signed by a secured party which\n includes the terms on which the secured party is willing to accept collateral\n in full or partial satisfaction of the obligation it secures pursuant to\n §§ 8.9A-620, 8.9A-621, and 8.9A-622.\n\n 67. “Public-finance transaction” means a secured transaction in\n connection with which:\n\nA. debt securities are issued;\n\nB. all or a portion of the securities issued have an initial stated maturity of\nat least 20 years; and\n\nC. the debtor, obligor, secured party, account debtor or other person obligated\non collateral, assignor or assignee of a secured obligation, or assignor or\nassignee of a security interest is a state or a governmental unit of a state.\n\n 68. “Public organic record” means a record that is available to\n the public for inspection and that is:\n\nA. a record consisting of the record initially filed with or issued by a state\nor the United States to form or organize an organization and any record filed\nwith or issued by the state or the United States which amends or restates the\ninitial record;\n\nB. an organic record of a business trust consisting of the record initially\nfiled with a state and any record filed with the state which amends or restates\nthe initial record, if a statute of the state governing business trusts requires\nthat the record be filed with the state; or\n\nC. a record consisting of legislation enacted by the legislature of a state or\nthe Congress of the United States which forms or organizes an organization, any\nrecord amending the legislation, and any record filed with or issued by the\nstate or the United States which amends or restates the name of the\norganization.\n\n 69. “Pursuant to commitment,” with respect to an advance made or\n other value given by a secured party, means pursuant to the secured\n party’s obligation, whether or not a subsequent event of default or\n other event not within the secured party’s control has relieved or may\n relieve the secured party from its obligation.\n\n 70. “Record,” except as used in “for record,”\n “of record,” “record or legal title,” and\n “record owner,” means information that is inscribed on a tangible\n medium or which is stored in an electronic or other medium and is retrievable\n in perceivable form.\n\n 71. “Registered organization” means an organization formed or\n organized solely under the law of a single state or the United States by the\n filing of a public organic record with, the issuance of a public organic\n record by, or the enactment of legislation by the state or the United States.\n The term includes a business trust that is formed or organized under the law\n of a single state if a statute of the state governing business trusts requires\n that the business trust’s organic record be filed with the state.\n\n 72. “Secondary obligor” means an obligor to the extent that:\n\nA. the obligor’s obligation is secondary; or\n\nB. the obligor has a right of recourse with respect to an obligation secured by\ncollateral against the debtor, another obligor, or property of either.\n\n 73. “Secured party” means:\n\nA. a person in whose favor a security interest is created or provided for under\na security agreement, whether or not any obligation to be secured is\noutstanding;\n\nB. a person that holds an agricultural lien;\n\nC. a consignor;\n\nD. a person to which accounts, chattel paper, payment intangibles, or promissory\nnotes have been sold;\n\nE. a trustee, indenture trustee, agent, collateral agent, or other\nrepresentative in whose favor a security interest or agricultural lien is\ncreated or provided for; or\n\nF. a person that holds a security interest arising under \u00a7 8.2-401, 8.2-505,\n8.2-711 (3), 8.2A-508 (5), 8.4-210, or 8.5A-118.\n\n 74. “Security agreement” means an agreement that creates or\n provides for a security interest.\n\n 75. [Reserved.]\n\n 76. “Software” means a computer program and any supporting\n information provided in connection with a transaction relating to the program.\n The term does not include a computer program that is included in the\n definition of goods.\n\n 77. “State” means a state of the United States, the District of\n Columbia, Puerto Rico, the United States Virgin Islands, or any territory or\n insular possession subject to the jurisdiction of the United States.\n\n 78. “Supporting obligation” means a letter of credit right or\n secondary obligation that supports the payment or performance of an account,\n chattel paper, a document, a general intangible, an instrument, or investment\n property.\n\n 79. [Reserved.]\n\n 79A. “Tangible money” means money in a tangible form.\n\n 80. “Termination statement” means an amendment of a financing\n statement which:\n\nA. identifies, by its file number, the initial financing statement to which it\nrelates; and\n\nB. indicates either that it is a termination statement or that the identified\nfinancing statement is no longer effective.\n\n 81. “Transmitting utility” means a person primarily engaged in the\n business of:\n\nA. operating a railroad, subway, street railway, or trolley bus;\n\nB. transmitting communications electrically, electromagnetically, or by light;\n\nC. transmitting goods by pipeline or sewer; or\n\nD. transmitting or producing and transmitting electricity, steam, gas, or water.\n\nb. Definitions in other titles. The following definitions in other titles apply\nto this title:\n\t\t\t“Applicant” § 8.5A-102.\n\t\t\t“Beneficiary” § 8.5A-102.\n\t\t\t“Broker” § 8.8A-102.\n\t\t\t“Certificated security” § 8.8A-102.\n\t\t\t“Check” § 8.3A-104.\n\t\t\t“Clearing corporation” § 8.8A-102.\n\t\t\t“Contract for sale” § 8.2-106.\n\t\t\t“Control” § 8.7-106.\n\t\t\t“Controllable electronic record” § 8.12-102.\n\t\t\t“Customer” § 8.4-104.\n\t\t\t“Entitlement holder” § 8.8A-102.\n\t\t\t“Financial asset” § 8.8A-102.\n\t\t\t“Holder in due course” § 8.3A-302.\n\t\t\t“Issuer” (with respect to a letter of credit or letter-of-credit\nright) § 8.5A-102.\n\t\t\t“Issuer” (with respect to a security) § 8.8A-201.\n\t\t\t“Issuer” (with respect to documents of title) § 8.7-102.\n\t\t\t“Lease” § 8.2A-103.\n\t\t\t“Lease agreement” § 8.2A-103.\n\t\t\t“Lease contract” § 8.2A-103.\n\t\t\t“Leasehold interest” § 8.2A-103.\n\t\t\t“Lessee” § 8.2A-103.\n\t\t\t“Lessee in ordinary course of business” § 8.2A-103.\n\t\t\t“Lessor” § 8.2A-103.\n\t\t\t“Lessor’s residual interest” § 8.2A-103.\n\t\t\t“Letter of credit” § 8.5A-102.\n\t\t\t“Merchant” § 8.2-104.\n\t\t\t“Negotiable instrument” § 8.3A-104.\n\t\t\t“Nominated person” § 8.5A-102.\n\t\t\t“Note” § 8.3A-104.\n\t\t\t“Proceeds of a letter of credit” § 8.5A-114.\n\t\t\t“Protected purchaser” § 8.8A-303.\n\t\t\t“Prove” § 8.3A-103.\n\t\t\t“Qualifying purchaser” § 8.12-102.\n\t\t\t“Sale” § 8.2-106.\n\t\t\t“Securities account” § 8.8A-501.\n\t\t\t“Securities intermediary” § 8.8A-102.\n\t\t\t“Security” § 8.8A-102.\n\t\t\t“Security certificate” § 8.8A-102.\n\t\t\t“Security entitlement” § 8.8A-102.\n\t\t\t“Uncertificated security” § 8.8A-102.\n\nc. Title 8.1A definitions and principles. Title 8.1A contains general\ndefinitions and principles of construction and interpretation applicable\nthroughout this title.\n\nHISTORY: 1964, c. 219, \u00a7\u00a7 8.2-326, 8.9-105, 8.9-106, 8.9-109, 8.9-115,\n8.9-301, 8.9-306; 1966, c. 394; 1973, c. 509; 1983, c. 204; 1984, c. 613; 1996,\ncc. 77, 216; 1997, c. 343; 2000, c. 1007; 2003, c. 353; 2004, c. 200; 2012, c.\n155; 2024, c. 652.","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}}