{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.9A-208.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.9A-208.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.9A-208.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.9A-208.html"}],"law_id":64267,"edition_id":1,"section_id":64267,"structure_id":16040,"section_number":"8.9A-208","catch_line":"Additional duties of secured party having control of collateral","history":"2000, c. 1007; 2004, c. 200; 2024, c. 652.","full_text":"a\n\nApplicability of section. This section applies to cases in which there is no outstanding secured obligation and the secured party is not committed to make advances, incur obligations, or otherwise give value.b\n\nDuties of secured party after receiving demand from debtor. Within 10 days after receiving a signed demand by the debtor:1\n\na secured party having control of a deposit account under § 8.9A-104 (a) (2) shall send to the bank with which the deposit account is maintained a signed record that releases the bank from any further obligation to comply with instructions originated by the secured party;2\n\na secured party having control of a deposit account under § 8.9A-104 (a) (3) shall:A\n\npay the debtor the balance on deposit in the deposit account; orB\n\ntransfer the balance on deposit into a deposit account in the debtor’s name;3\n\na secured party, other than a buyer, having control under § 8.9A-105 of an authoritative electronic copy of a record evidencing chattel paper shall transfer control of the electronic copy to a debtor or a person designated by the debtor;4\n\na secured party having control of investment property under § 8.8A-106 (d) (2) or § 8.9A-106 (b) shall send to the securities intermediary or commodity intermediary with which the security entitlement or commodity contract is maintained a signed record that releases the securities intermediary or commodity intermediary from any further obligation to comply with entitlement orders or directions originated by the secured party;5\n\na secured party having control of a letter-of-credit right under § 8.9A-107 shall send to each person having an unfulfilled obligation to pay or deliver proceeds of the letter of credit to the secured party a signed release from any further obligation to pay or deliver proceeds of the letter of credit to the secured party;6\n\na secured party having control under § 8.7-106 of an authoritative electronic copy of an electronic document of title shall transfer control of the electronic copy to the debtor or a person designated by the debtor;7\n\na secured party having control under § 8.9A-105.1 of electronic money shall transfer control of the electronic money to the debtor or a person designated by the debtor; and8\n\na secured party having control under § 8.12-105 of a controllable electronic record, other than a buyer of a controllable account or controllable payment intangible evidenced by the controllable electronic record, shall transfer control of the controllable electronic record to the debtor or a person designated by the debtor.","order_by":null,"text":{"0":{"id":233923,"text":"Applicability of section. This section applies to cases in which there is no outstanding secured obligation and the secured party is not committed to make advances, incur obligations, or otherwise give value.","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"b"},"1":{"id":233924,"text":"Duties of secured party after receiving demand from debtor. Within 10 days after receiving a signed demand by the debtor:","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a","next_prefix":"b1"},"2":{"id":233925,"text":"a secured party having control of a deposit account under § 8.9A-104 (a) (2) shall send to the bank with which the deposit account is maintained a signed record that releases the bank from any further obligation to comply with instructions originated by the secured party;","type":"section","prefixes":["b","1"],"prefix":"1","entire_prefix":"b1","prefix_anchor":"b1","level":2,"prior_prefix":"b","next_prefix":"b2"},"3":{"id":233926,"text":"a secured party having control of a deposit account under § 8.9A-104 (a) (3) shall:","type":"section","prefixes":["b","2"],"prefix":"2","entire_prefix":"b2","prefix_anchor":"b2","level":2,"prior_prefix":"b1","next_prefix":"A"},"4":{"id":233927,"text":"pay the debtor the balance on deposit in the deposit account; or","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"b2","next_prefix":"B"},"5":{"id":233928,"text":"transfer the balance on deposit into a deposit account in the debtor’s name;","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B3"},"6":{"id":233929,"text":"a secured party, other than a buyer, having control under § 8.9A-105 of an authoritative electronic copy of a record evidencing chattel paper shall transfer control of the electronic copy to a debtor or a person designated by the debtor;","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B","next_prefix":"B4"},"7":{"id":233930,"text":"a secured party having control of investment property under § 8.8A-106 (d) (2) or § 8.9A-106 (b) shall send to the securities intermediary or commodity intermediary with which the security entitlement or commodity contract is maintained a signed record that releases the securities intermediary or commodity intermediary from any further obligation to comply with entitlement orders or directions originated by the secured party;","type":"section","prefixes":["B","4"],"prefix":"4","entire_prefix":"B4","prefix_anchor":"B4","level":2,"prior_prefix":"B3","next_prefix":"B5"},"8":{"id":233931,"text":"a secured party having control of a letter-of-credit right under § 8.9A-107 shall send to each person having an unfulfilled obligation to pay or deliver proceeds of the letter of credit to the secured party a signed release from any further obligation to pay or deliver proceeds of the letter of credit to the secured party;","type":"section","prefixes":["B","5"],"prefix":"5","entire_prefix":"B5","prefix_anchor":"B5","level":2,"prior_prefix":"B4","next_prefix":"B6"},"9":{"id":233932,"text":"a secured party having control under § 8.7-106 of an authoritative electronic copy of an electronic document of title shall transfer control of the electronic copy to the debtor or a person designated by the debtor;","type":"section","prefixes":["B","6"],"prefix":"6","entire_prefix":"B6","prefix_anchor":"B6","level":2,"prior_prefix":"B5","next_prefix":"B7"},"10":{"id":233933,"text":"a secured party having control under § 8.9A-105.1 of electronic money shall transfer control of the electronic money to the debtor or a person designated by the debtor; and","type":"section","prefixes":["B","7"],"prefix":"7","entire_prefix":"B7","prefix_anchor":"B7","level":2,"prior_prefix":"B6","next_prefix":"B8"},"11":{"id":233934,"text":"a secured party having control under § 8.12-105 of a controllable electronic record, other than a buyer of a controllable account or controllable payment intangible evidenced by the controllable electronic record, shall transfer control of the controllable electronic record to the debtor or a person designated by the debtor.","type":"section","prefixes":["B","8"],"prefix":"8","entire_prefix":"B8","prefix_anchor":"B8","level":2,"prior_prefix":"B7"}},"ancestry":[{"id":16040,"edition_id":1,"name":"Rights and Duties","identifier":"2","label":"subpart","depth":3,"order_by":1,"parent_id":13278,"metadata":{},"date_created":"2026-06-26 04:04:30","date_modified":"2026-06-26 04:04:30","permalink":{"id":283925,"object_type":"structure","relational_id":16040,"identifier":"2","token":"8.9A\/2\/2","url":"\/8.9A\/2\/2\/","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":62908,"structure_id":16040,"section_number":"8.9A-207","catch_line":"Rights and duties of secured party having possession or control of collateral","url":"\/8.9A-207\/","token":"8.9A\/2\/2\/8.9A-207","metadata":false},{"id":64267,"structure_id":16040,"section_number":"8.9A-208","catch_line":"Additional duties of secured party having control of collateral","url":"\/8.9A-208\/","token":"8.9A\/2\/2\/8.9A-208","metadata":false},{"id":63561,"structure_id":16040,"section_number":"8.9A-209","catch_line":"Duties of secured party if account debtor has been notified of assignment","url":"\/8.9A-209\/","token":"8.9A\/2\/2\/8.9A-209","metadata":false},{"id":78664,"structure_id":16040,"section_number":"8.9A-210","catch_line":"Request for accounting; request regarding list of collateral or statement of account","url":"\/8.9A-210\/","token":"8.9A\/2\/2\/8.9A-210","metadata":false}],"previous_section":{"id":62908,"structure_id":16040,"section_number":"8.9A-207","catch_line":"Rights and duties of secured party having possession or control of collateral","url":"\/8.9A-207\/","token":"8.9A\/2\/2\/8.9A-207","metadata":false},"next_section":{"id":63561,"structure_id":16040,"section_number":"8.9A-209","catch_line":"Duties of secured party if account debtor has been notified of assignment","url":"\/8.9A-209\/","token":"8.9A\/2\/2\/8.9A-209","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.9A-208\/","history_text":"

This law was first created in 2000. The record of its establishment is cataloged in chapter 1007<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 2 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 2004, chapter 200<\/a>; in 2024, chapter 652<\/a>.<\/p>","references":false,"refers_to":[{"id":53978,"section_number":"8.12-105","catch_line":"Control of controllable electronic record","order_by":null,"url":"\/8.12-105\/"},{"id":67103,"section_number":"8.7-106","catch_line":"Control of electronic document","order_by":null,"url":"\/8.7-106\/"},{"id":84402,"section_number":"8.8A-106","catch_line":"Control","order_by":null,"url":"\/8.8A-106\/"},{"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\/"}],"permalink":{"id":283931,"object_type":"law","relational_id":64267,"identifier":"8.9A-208","token":"8.9A\/2\/2\/8.9A-208","url":"\/8.9A-208\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.9A-208\/","token":"8.9A\/2\/2\/8.9A-208","dublin_core":{"Title":"Additional duties of secured party having control of collateral","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.9A-208","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> Applicability of section. This section applies to cases in which there is no outstanding secured obligation and the secured party<\/span> is not committed to make advances, incur obligations, or otherwise give value. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> Duties of secured party<\/span> after receiving demand from debtor. Within 10 days after receiving a signed demand by the debtor: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> a secured party<\/span> having control of a deposit account under § 8.9A-104<\/a> (a) (2) shall send to the bank with which the deposit account is maintained a signed record that releases the bank from any further obligation to comply with instructions originated by the secured party<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> a secured party<\/span> having control of a deposit account under § 8.9A-104<\/a> (a) (3) shall: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> pay the debtor the balance on deposit in the deposit account; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> transfer the balance on deposit into a deposit account in the debtor’s name; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> a secured party<\/span>, other than a buyer, having control under § 8.9A-105<\/a> of an authoritative electronic copy of a record evidencing chattel paper shall transfer control of the electronic copy to a debtor or a person designated by the debtor; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> a secured party<\/span> having control of investment property under § 8.8A-106<\/a> (d) (2) or § 8.9A-106<\/a> (b) shall send to the securities intermediary or commodity intermediary with which the security entitlement or commodity contract<\/span> is maintained a signed record that releases the securities intermediary or commodity intermediary from any further obligation to comply with entitlement orders<\/span> or directions originated by the secured party<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> a secured party<\/span> having control of a letter-of-credit right under § 8.9A-107<\/a> shall send to each person having an unfulfilled obligation to pay or deliver proceeds of the letter of credit to the secured party<\/span> a signed release from any further obligation to pay or deliver proceeds of the letter of credit to the secured party<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> a secured party<\/span> having control under § 8.7-106<\/a> of an authoritative electronic copy of an electronic document of title shall transfer control of the electronic copy to the debtor or a person designated by the debtor; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> a secured party<\/span> having control under § 8.9A-105.1<\/a> of electronic money shall transfer control of the electronic money to the debtor or a person designated by the debtor; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> a secured party<\/span> having control under § 8.12-105<\/a> of a controllable electronic record, other than a buyer of a controllable account or controllable payment intangible evidenced by the controllable electronic record, shall transfer control of the controllable electronic record to the debtor or a person designated by the debtor. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nADDITIONAL DUTIES OF SECURED PARTY HAVING CONTROL OF COLLATERAL (\u00a7 8.9A-208)\n\na. Applicability of section. This section applies to cases in which there is no\noutstanding secured obligation and the secured party is not committed to make\nadvances, incur obligations, or otherwise give value.\n\nb. Duties of secured party after receiving demand from debtor. Within 10 days\nafter receiving a signed demand by the debtor:\n\n 1. a secured party having control of a deposit account under § 8.9A-104\n (a) (2) shall send to the bank with which the deposit account is maintained a\n signed record that releases the bank from any further obligation to comply\n with instructions originated by the secured party;\n\n 2. a secured party having control of a deposit account under § 8.9A-104\n (a) (3) shall:\n\nA. pay the debtor the balance on deposit in the deposit account; or\n\nB. transfer the balance on deposit into a deposit account in the debtor’s\nname;\n\n 3. a secured party, other than a buyer, having control under § 8.9A-105\n of an authoritative electronic copy of a record evidencing chattel paper shall\n transfer control of the electronic copy to a debtor or a person designated by\n the debtor;\n\n 4. a secured party having control of investment property under § 8.8A-106\n (d) (2) or § 8.9A-106 (b) shall send to the securities intermediary or\n commodity intermediary with which the security entitlement or commodity\n contract is maintained a signed record that releases the securities\n intermediary or commodity intermediary from any further obligation to comply\n with entitlement orders or directions originated by the secured party;\n\n 5. a secured party having control of a letter-of-credit right under §\n 8.9A-107 shall send to each person having an unfulfilled obligation to pay or\n deliver proceeds of the letter of credit to the secured party a signed release\n from any further obligation to pay or deliver proceeds of the letter of credit\n to the secured party;\n\n 6. a secured party having control under § 8.7-106 of an authoritative\n electronic copy of an electronic document of title shall transfer control of\n the electronic copy to the debtor or a person designated by the debtor;\n\n 7. a secured party having control under § 8.9A-105.1 of electronic money\n shall transfer control of the electronic money to the debtor or a person\n designated by the debtor; and\n\n 8. a secured party having control under § 8.12-105 of a controllable\n electronic record, other than a buyer of a controllable account or\n controllable payment intangible evidenced by the controllable electronic\n record, shall transfer control of the controllable electronic record to the\n debtor or a person designated by the debtor.\n\nHISTORY: 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}}