{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.9A-203.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.9A-203.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.9A-203.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.9A-203.html"}],"law_id":74128,"edition_id":1,"section_id":74128,"structure_id":13279,"section_number":"8.9A-203","catch_line":"Attachment and enforceability of security interest; proceeds, supporting obligations; formal requisites","history":"Code 1950, \u00a7 6-551; 1964, c. 219, \u00a7 8.9-203; 1973, c. 509; 1984, c. 613; 1996, c. 216, \u00a7 8.9-115; 2000, c. 1007; 2004, c. 200; 2024, c. 652.","full_text":"a\n\nAttachment. A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral, unless an agreement expressly postpones the time of attachment.b\n\nEnforceability. Except as otherwise provided in subsections (c) through (i), a security interest is enforceable against the debtor and third parties with respect to the collateral only if:1\n\nvalue has been given;2\n\nthe debtor has rights in the collateral or the power to transfer rights in the collateral to a secured party; and3\n\none of the following conditions is met:A\n\nthe debtor has signed a security agreement that provides a description of the collateral and, if the security interest covers timber to be cut, a description of the land concerned;B\n\nthe collateral is not a certificated security and is in the possession of the secured party under § 8.9A-313 pursuant to the debtor’s security agreement;C\n\nthe collateral is a certificated security in registered form and the security certificate has been delivered to the secured party under § 8.8A-301 pursuant to the debtor’s security agreement;D\n\nthe collateral is controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, electronic money, investment property, or letter-of-credit rights, and the secured party has control under § 8.7-106, 8.9A-104, 8.9A-105, 8.9A-105.1, 8.9A-106, 8.9A-107, or 8.9A-107.1 pursuant to the debtor’s security agreement; orE\n\nthe collateral is chattel paper and the secured party has possession and control under § 8.9A-314.1 pursuant to the debtor’s security agreement.c\n\nOther Uniform Commercial Code provisions. Subsection (b) is subject to § 8.4-210 on the security interest of a collecting bank, § 8.5A-118 on the security interest of a letter-of-credit issuer or nominated person, § 8.9A-110 on a security interest arising under Title 8.2 or Title 8.2A, and § 8.9A-206 on security interests in investment property.d\n\nWhen person becomes bound by another person’s security agreement. A person becomes bound as debtor by a security agreement entered into by another person if, by operation of law other than this title or by contract:1\n\nthe security agreement becomes effective to create a security interest in the person’s property; or2\n\nthe person becomes generally obligated for the obligations of the other person, including the obligation secured under the security agreement, and acquires or succeeds to all or substantially all of the assets of the other person.e\n\nEffect of new debtor becoming bound. If a new debtor becomes bound as debtor by a security agreement entered into by another person:1\n\nthe agreement satisfies subdivision (b) (3) with respect to existing or after-acquired property of the new debtor to the extent the property is described in the agreement; and2\n\nanother agreement is not necessary to make a security interest in the property enforceable.f\n\nProceeds and supporting obligations. The attachment of a security interest in collateral gives the secured party the rights to proceeds provided by § 8.9A-315 and is also attachment of a security interest in a supporting obligation for the collateral.g\n\nLien securing right to payment. The attachment of a security interest in a right to payment or performance secured by a security interest or other lien on personal or real property is also attachment of a security interest in the security interest, mortgage, or other lien.h\n\nSecurity entitlement carried in securities account. The attachment of a security interest in a securities account is also attachment of a security interest in the security entitlements carried in the securities account.i\n\nCommodity contracts carried in commodity account. The attachment of a security interest in a commodity account is also attachment of a security interest in the commodity contracts carried in the commodity account.","order_by":null,"text":{"0":{"id":266582,"text":"Attachment. A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral, unless an agreement expressly postpones the time of attachment.","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"b"},"1":{"id":266583,"text":"Enforceability. Except as otherwise provided in subsections (c) through (i), a security interest is enforceable against the debtor and third parties with respect to the collateral only if:","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a","next_prefix":"b1"},"2":{"id":266584,"text":"value has been given;","type":"section","prefixes":["b","1"],"prefix":"1","entire_prefix":"b1","prefix_anchor":"b1","level":2,"prior_prefix":"b","next_prefix":"b2"},"3":{"id":266585,"text":"the debtor has rights in the collateral or the power to transfer rights in the collateral to a secured party; and","type":"section","prefixes":["b","2"],"prefix":"2","entire_prefix":"b2","prefix_anchor":"b2","level":2,"prior_prefix":"b1","next_prefix":"b3"},"4":{"id":266586,"text":"one of the following conditions is met:","type":"section","prefixes":["b","3"],"prefix":"3","entire_prefix":"b3","prefix_anchor":"b3","level":2,"prior_prefix":"b2","next_prefix":"A"},"5":{"id":266587,"text":"the debtor has signed a security agreement that provides a description of the collateral and, if the security interest covers timber to be cut, a description of the land concerned;","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"b3","next_prefix":"B"},"6":{"id":266588,"text":"the collateral is not a certificated security and is in the possession of the secured party under § 8.9A-313 pursuant to the debtor’s security agreement;","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"7":{"id":266589,"text":"the collateral is a certificated security in registered form and the security certificate has been delivered to the secured party under § 8.8A-301 pursuant to the debtor’s security agreement;","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"8":{"id":266590,"text":"the collateral is controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, electronic money, investment property, or letter-of-credit rights, and the secured party has control under § 8.7-106, 8.9A-104, 8.9A-105, 8.9A-105.1, 8.9A-106, 8.9A-107, or 8.9A-107.1 pursuant to the debtor’s security agreement; or","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"9":{"id":266591,"text":"the collateral is chattel paper and the secured party has possession and control under § 8.9A-314.1 pursuant to the debtor’s security agreement.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"c"},"10":{"id":266592,"text":"Other Uniform Commercial Code provisions. Subsection (b) is subject to § 8.4-210 on the security interest of a collecting bank, § 8.5A-118 on the security interest of a letter-of-credit issuer or nominated person, § 8.9A-110 on a security interest arising under Title 8.2 or Title 8.2A, and § 8.9A-206 on security interests in investment property.","type":"section","prefixes":["c"],"prefix":"c","entire_prefix":"c","prefix_anchor":"c","level":1,"prior_prefix":"E","next_prefix":"d"},"11":{"id":266593,"text":"When person becomes bound by another person’s security agreement. A person becomes bound as debtor by a security agreement entered into by another person if, by operation of law other than this title or by contract:","type":"section","prefixes":["d"],"prefix":"d","entire_prefix":"d","prefix_anchor":"d","level":1,"prior_prefix":"c","next_prefix":"d1"},"12":{"id":266594,"text":"the security agreement becomes effective to create a security interest in the person’s property; or","type":"section","prefixes":["d","1"],"prefix":"1","entire_prefix":"d1","prefix_anchor":"d1","level":2,"prior_prefix":"d","next_prefix":"d2"},"13":{"id":266595,"text":"the person becomes generally obligated for the obligations of the other person, including the obligation secured under the security agreement, and acquires or succeeds to all or substantially all of the assets of the other person.","type":"section","prefixes":["d","2"],"prefix":"2","entire_prefix":"d2","prefix_anchor":"d2","level":2,"prior_prefix":"d1","next_prefix":"e"},"14":{"id":266596,"text":"Effect of new debtor becoming bound. If a new debtor becomes bound as debtor by a security agreement entered into by another person:","type":"section","prefixes":["e"],"prefix":"e","entire_prefix":"e","prefix_anchor":"e","level":1,"prior_prefix":"d2","next_prefix":"e1"},"15":{"id":266597,"text":"the agreement satisfies subdivision (b) (3) with respect to existing or after-acquired property of the new debtor to the extent the property is described in the agreement; and","type":"section","prefixes":["e","1"],"prefix":"1","entire_prefix":"e1","prefix_anchor":"e1","level":2,"prior_prefix":"e","next_prefix":"e2"},"16":{"id":266598,"text":"another agreement is not necessary to make a security interest in the property enforceable.","type":"section","prefixes":["e","2"],"prefix":"2","entire_prefix":"e2","prefix_anchor":"e2","level":2,"prior_prefix":"e1","next_prefix":"f"},"17":{"id":266599,"text":"Proceeds and supporting obligations. The attachment of a security interest in collateral gives the secured party the rights to proceeds provided by § 8.9A-315 and is also attachment of a security interest in a supporting obligation for the collateral.","type":"section","prefixes":["f"],"prefix":"f","entire_prefix":"f","prefix_anchor":"f","level":1,"prior_prefix":"e2","next_prefix":"g"},"18":{"id":266600,"text":"Lien securing right to payment. The attachment of a security interest in a right to payment or performance secured by a security interest or other lien on personal or real property is also attachment of a security interest in the security interest, mortgage, or other lien.","type":"section","prefixes":["g"],"prefix":"g","entire_prefix":"g","prefix_anchor":"g","level":1,"prior_prefix":"f","next_prefix":"h"},"19":{"id":266601,"text":"Security entitlement carried in securities account. The attachment of a security interest in a securities account is also attachment of a security interest in the security entitlements carried in the securities account.","type":"section","prefixes":["h"],"prefix":"h","entire_prefix":"h","prefix_anchor":"h","level":1,"prior_prefix":"g","next_prefix":"i"},"20":{"id":266602,"text":"Commodity contracts carried in commodity account. The attachment of a security interest in a commodity account is also attachment of a security interest in the commodity contracts carried in the commodity account.","type":"section","prefixes":["i"],"prefix":"i","entire_prefix":"i","prefix_anchor":"i","level":1,"prior_prefix":"h"}},"ancestry":[{"id":13279,"edition_id":1,"name":"Effectiveness and Attachment","identifier":"1","label":"subpart","depth":3,"order_by":1,"parent_id":13278,"metadata":{},"date_created":"2026-06-26 03:44:33","date_modified":"2026-06-26 03:44:33","permalink":{"id":283895,"object_type":"structure","relational_id":13279,"identifier":"1","token":"8.9A\/2\/1","url":"\/8.9A\/2\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13278,"edition_id":1,"name":"Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement","identifier":"2","label":"part","depth":2,"order_by":1,"parent_id":13277,"metadata":{},"date_created":"2026-06-26 03:44:33","date_modified":"2026-06-26 03:44:33","permalink":{"id":283893,"object_type":"structure","relational_id":13278,"identifier":"2","token":"8.9A\/2","url":"\/8.9A\/2\/","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":85189,"structure_id":13279,"section_number":"8.9A-201","catch_line":"General effectiveness of security agreement","url":"\/8.9A-201\/","token":"8.9A\/2\/1\/8.9A-201","metadata":false},{"id":64911,"structure_id":13279,"section_number":"8.9A-202","catch_line":"Title to collateral immaterial","url":"\/8.9A-202\/","token":"8.9A\/2\/1\/8.9A-202","metadata":false},{"id":74128,"structure_id":13279,"section_number":"8.9A-203","catch_line":"Attachment and enforceability of security interest; proceeds, supporting obligations; formal requisites","url":"\/8.9A-203\/","token":"8.9A\/2\/1\/8.9A-203","metadata":false},{"id":61057,"structure_id":13279,"section_number":"8.9A-204","catch_line":"After-acquired property; future advances","url":"\/8.9A-204\/","token":"8.9A\/2\/1\/8.9A-204","metadata":false},{"id":78518,"structure_id":13279,"section_number":"8.9A-204.1","catch_line":"Security interests in consumer goods","url":"\/8.9A-204.1\/","token":"8.9A\/2\/1\/8.9A-204.1","metadata":false},{"id":64653,"structure_id":13279,"section_number":"8.9A-205","catch_line":"Use or disposition of collateral permissible","url":"\/8.9A-205\/","token":"8.9A\/2\/1\/8.9A-205","metadata":false},{"id":54271,"structure_id":13279,"section_number":"8.9A-206","catch_line":"Security interest arising in purchase or delivery of financial asset","url":"\/8.9A-206\/","token":"8.9A\/2\/1\/8.9A-206","metadata":false}],"previous_section":{"id":64911,"structure_id":13279,"section_number":"8.9A-202","catch_line":"Title to collateral immaterial","url":"\/8.9A-202\/","token":"8.9A\/2\/1\/8.9A-202","metadata":false},"next_section":{"id":61057,"structure_id":13279,"section_number":"8.9A-204","catch_line":"After-acquired property; future advances","url":"\/8.9A-204\/","token":"8.9A\/2\/1\/8.9A-204","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.9A-203\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 7 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 1964, chapter 219; in 1973, chapter 509; in 1984, chapter 613; in 1996, chapter 216<\/a>; in 2000, chapter 1007<\/a>; in 2004, chapter 200<\/a>; in 2024, chapter 652<\/a>.<\/p>","references":[{"id":65704,"section_number":"8.13-302","catch_line":"Security interest perfected before effective date","order_by":null,"url":"\/8.13-302\/"},{"id":75476,"section_number":"8.13-303","catch_line":"Security interest unperfected before effective date","order_by":null,"url":"\/8.13-303\/"},{"id":83512,"section_number":"8.4-208","catch_line":"Security interest of collecting bank in items, accompanying documents and proceeds","order_by":null,"url":"\/8.4-208\/"},{"id":75081,"section_number":"8.5A-117.1","catch_line":"Security interest of issuer or nominated person","order_by":null,"url":"\/8.5A-117.1\/"},{"id":58431,"section_number":"8.9A-102","catch_line":"Definitions and index of definitions","order_by":null,"url":"\/8.9A-102\/"},{"id":59732,"section_number":"8.9A-109","catch_line":"Scope","order_by":null,"url":"\/8.9A-109\/"},{"id":83703,"section_number":"8.9A-110","catch_line":"Security interests arising under Title 8.2 or Title 8.2A","order_by":null,"url":"\/8.9A-110\/"},{"id":82133,"section_number":"8.9A-316","catch_line":"Effect of change in governing law","order_by":null,"url":"\/8.9A-316\/"},{"id":62358,"section_number":"8.9A-317","catch_line":"Interests that take priority over or take free of security interest or agricultural lien","order_by":null,"url":"\/8.9A-317\/"},{"id":83849,"section_number":"8.9A-508","catch_line":"Effectiveness of financing statement if new debtor becomes bound by security agreement","order_by":null,"url":"\/8.9A-508\/"},{"id":56712,"section_number":"8.9A-703","catch_line":"Security interest perfected before effective date","order_by":null,"url":"\/8.9A-703\/"},{"id":74614,"section_number":"8.9A-704","catch_line":"Security interest unperfected before effective date","order_by":null,"url":"\/8.9A-704\/"}],"refers_to":[{"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":65323,"section_number":"8.5A-118","catch_line":"Applicability","order_by":null,"url":"\/8.5A-118\/"},{"id":67103,"section_number":"8.7-106","catch_line":"Control of electronic document","order_by":null,"url":"\/8.7-106\/"},{"id":58567,"section_number":"8.8A-301","catch_line":"Delivery","order_by":null,"url":"\/8.8A-301\/"},{"id":62491,"section_number":"8.9A-104","catch_line":"Control of deposit account","order_by":null,"url":"\/8.9A-104\/"},{"id":84613,"section_number":"8.9A-105","catch_line":"Control of electronic copy of record evidencing chattel paper","order_by":null,"url":"\/8.9A-105\/"},{"id":59549,"section_number":"8.9A-105.1","catch_line":"Control of electronic money","order_by":null,"url":"\/8.9A-105.1\/"},{"id":81668,"section_number":"8.9A-106","catch_line":"Control of investment property","order_by":null,"url":"\/8.9A-106\/"},{"id":58690,"section_number":"8.9A-107","catch_line":"Control of letter-of-credit right","order_by":null,"url":"\/8.9A-107\/"},{"id":76599,"section_number":"8.9A-107.1","catch_line":"Control of controllable electronic record, controllable account, or controllable payment intangible","order_by":null,"url":"\/8.9A-107.1\/"},{"id":83703,"section_number":"8.9A-110","catch_line":"Security interests arising under Title 8.2 or Title 8.2A","order_by":null,"url":"\/8.9A-110\/"},{"id":54271,"section_number":"8.9A-206","catch_line":"Security interest arising in purchase or delivery of financial asset","order_by":null,"url":"\/8.9A-206\/"},{"id":59813,"section_number":"8.9A-313","catch_line":"When possession by or delivery to secured party perfects security interest without filing","order_by":null,"url":"\/8.9A-313\/"},{"id":74925,"section_number":"8.9A-314.1","catch_line":"Perfection by possession and control of chattel paper","order_by":null,"url":"\/8.9A-314.1\/"},{"id":76348,"section_number":"8.9A-315","catch_line":"Secured party's rights on disposition of collateral and in proceeds","order_by":null,"url":"\/8.9A-315\/"}],"permalink":{"id":283905,"object_type":"law","relational_id":74128,"identifier":"8.9A-203","token":"8.9A\/2\/1\/8.9A-203","url":"\/8.9A-203\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.9A-203\/","token":"8.9A\/2\/1\/8.9A-203","dublin_core":{"Title":"Attachment and enforceability of security interest; proceeds, supporting obligations; formal requisites","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.9A-203","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> Attachment<\/span>. A security interest attaches to collateral<\/span> when it becomes enforceable against the debtor with respect to the collateral<\/span>, unless an agreement expressly postpones the time of attachment<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> Enforceability. Except as otherwise provided in subsections (c) through (i), a security interest is enforceable against the debtor and third parties with respect to the collateral<\/span> only if: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> value has been given; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> the debtor has rights in the collateral<\/span> or the power to transfer rights in the collateral<\/span> to a secured party<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> one of the following conditions is met: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> the debtor has signed a security agreement that provides a description of the collateral<\/span> and, if the security interest covers timber to be cut, a description of the land concerned; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> the collateral<\/span> is not a certificated security and is in the possession<\/span> of the secured party<\/span> under § 8.9A-313<\/a> pursuant to the debtor’s security agreement; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> the collateral<\/span> is a certificated security in registered form and the security certificate has been delivered to the secured party<\/span> under § 8.8A-301<\/a> pursuant to the debtor’s security agreement; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> the collateral<\/span> is controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, electronic money, investment property, or letter-of-credit rights, and the secured party<\/span> has control under § 8.7-106<\/a>, 8.9A-104<\/a>, 8.9A-105<\/a>, 8.9A-105.1<\/a>, 8.9A-106<\/a>, 8.9A-107<\/a>, or 8.9A-107.1<\/a> pursuant to the debtor’s security agreement; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> the collateral<\/span> is chattel paper and the secured party<\/span> has possession<\/span> and control under § 8.9A-314.1<\/a> pursuant to the debtor’s security agreement. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

c.<\/span> Other Uniform Commercial Code provisions. Subsection (b) is subject to § 8.4-210<\/a> on the security interest of a collecting bank, § 8.5A-118<\/a> on the security interest of a letter-of-credit issuer or nominated person, § 8.9A-110<\/a> on a security interest arising under Title 8.2 or Title 8.2A, and § 8.9A-206<\/a> on security interests in investment property. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

d.<\/span> When person becomes bound by another person’s security agreement. A person becomes bound as debtor by a security agreement entered into by another person if, by operation of law<\/span> other than this title or by contract<\/span>: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> the security agreement becomes effective to create a security interest in the person’s property; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> the person becomes generally obligated for the obligations of the other person, including the obligation secured under the security agreement, and acquires or succeeds to all or substantially all of the assets<\/span> of the other person. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

e.<\/span> Effect of new debtor becoming bound. If a new debtor becomes bound as debtor by a security agreement entered into by another person: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> the agreement satisfies subdivision (b) (3) with respect to existing or after-acquired property of the new debtor to the extent the property is described in the agreement; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> another agreement is not necessary to make a security interest in the property enforceable. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

f.<\/span> Proceeds and supporting obligations. The attachment<\/span> of a security interest in collateral<\/span> gives the secured party<\/span> the rights to proceeds provided by § 8.9A-315<\/a> and is also attachment<\/span> of a security interest in a supporting obligation for the collateral<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

g.<\/span> Lien<\/span> securing right to payment. The attachment<\/span> of a security interest in a right to payment or performance secured by a security interest or other lien<\/span> on personal or real property is also attachment<\/span> of a security interest in the security interest, mortgage, or other lien<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

h.<\/span> Security entitlement carried in securities account. The attachment<\/span> of a security interest in a securities account is also attachment<\/span> of a security interest in the security entitlements carried in the securities account. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

i.<\/span> Commodity contracts<\/span> carried in commodity account. The attachment<\/span> of a security interest in a commodity account is also attachment<\/span> of a security interest in the commodity contracts<\/span> carried in the commodity account. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nATTACHMENT AND ENFORCEABILITY OF SECURITY INTEREST; PROCEEDS, SUPPORTING\nOBLIGATIONS; FORMAL REQUISITES (\u00a7 8.9A-203)\n\na. Attachment. A security interest attaches to collateral when it becomes\nenforceable against the debtor with respect to the collateral, unless an\nagreement expressly postpones the time of attachment.\n\nb. Enforceability. Except as otherwise provided in subsections (c) through (i),\na security interest is enforceable against the debtor and third parties with\nrespect to the collateral only if:\n\n 1. value has been given;\n\n 2. the debtor has rights in the collateral or the power to transfer rights in\n the collateral to a secured party; and\n\n 3. one of the following conditions is met:\n\nA. the debtor has signed a security agreement that provides a description of the\ncollateral and, if the security interest covers timber to be cut, a description\nof the land concerned;\n\nB. the collateral is not a certificated security and is in the possession of the\nsecured party under § 8.9A-313 pursuant to the debtor’s security\nagreement;\n\nC. the collateral is a certificated security in registered form and the security\ncertificate has been delivered to the secured party under § 8.8A-301\npursuant to the debtor’s security agreement;\n\nD. the collateral is controllable accounts, controllable electronic records,\ncontrollable payment intangibles, deposit accounts, electronic documents,\nelectronic money, investment property, or letter-of-credit rights, and the\nsecured party has control under § 8.7-106, 8.9A-104, 8.9A-105, 8.9A-105.1,\n8.9A-106, 8.9A-107, or 8.9A-107.1 pursuant to the debtor’s security\nagreement; or\n\nE. the collateral is chattel paper and the secured party has possession and\ncontrol under § 8.9A-314.1 pursuant to the debtor’s security\nagreement.\n\nc. Other Uniform Commercial Code provisions. Subsection (b) is subject to §\n8.4-210 on the security interest of a collecting bank, § 8.5A-118 on the\nsecurity interest of a letter-of-credit issuer or nominated person, §\n8.9A-110 on a security interest arising under Title 8.2 or Title 8.2A, and\n§ 8.9A-206 on security interests in investment property.\n\nd. When person becomes bound by another person’s security agreement. A\nperson becomes bound as debtor by a security agreement entered into by another\nperson if, by operation of law other than this title or by contract:\n\n 1. the security agreement becomes effective to create a security interest in\n the person’s property; or\n\n 2. the person becomes generally obligated for the obligations of the other\n person, including the obligation secured under the security agreement, and\n acquires or succeeds to all or substantially all of the assets of the other\n person.\n\ne. Effect of new debtor becoming bound. If a new debtor becomes bound as debtor\nby a security agreement entered into by another person:\n\n 1. the agreement satisfies subdivision (b) (3) with respect to existing or\n after-acquired property of the new debtor to the extent the property is\n described in the agreement; and\n\n 2. another agreement is not necessary to make a security interest in the\n property enforceable.\n\nf. Proceeds and supporting obligations. The attachment of a security interest in\ncollateral gives the secured party the rights to proceeds provided by §\n8.9A-315 and is also attachment of a security interest in a supporting\nobligation for the collateral.\n\ng. Lien securing right to payment. The attachment of a security interest in a\nright to payment or performance secured by a security interest or other lien on\npersonal or real property is also attachment of a security interest in the\nsecurity interest, mortgage, or other lien.\n\nh. Security entitlement carried in securities account. The attachment of a\nsecurity interest in a securities account is also attachment of a security\ninterest in the security entitlements carried in the securities account.\n\ni. Commodity contracts carried in commodity account. The attachment of a\nsecurity interest in a commodity account is also attachment of a security\ninterest in the commodity contracts carried in the commodity account.\n\nHISTORY: Code 1950, \u00a7 6-551; 1964, c. 219, \u00a7 8.9-203; 1973, c. 509; 1984, c.\n613; 1996, c. 216, \u00a7 8.9-115; 2000, c. 1007; 2004, c. 200; 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}}