{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.9A-304.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.9A-304.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.9A-304.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.9A-304.html"}],"law_id":72095,"edition_id":1,"section_id":72095,"structure_id":13859,"section_number":"8.9A-304","catch_line":"Law governing perfection and priority of security interests in deposit accounts","history":"2000, c. 1007; 2024, c. 652.","full_text":"a\n\nLaw of bank’s jurisdiction governs. The local law of a bank’s jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a deposit account maintained with that bank even if the transaction does not bear any relation to the bank’s jurisdiction.b\n\nBank’s jurisdiction. The following rules determine a bank’s jurisdiction for purposes of this part:1\n\nIf an agreement between the bank and the debtor governing the deposit account expressly provides that a particular jurisdiction is the bank’s jurisdiction for purposes of this part, this title, or the Uniform Commercial Code, that jurisdiction is the bank’s jurisdiction.2\n\nIf paragraph (1) does not apply and an agreement between the bank and its customer governing the deposit account expressly provides that the agreement is governed by the law of a particular jurisdiction, that jurisdiction is the bank’s jurisdiction.3\n\nIf neither paragraph (1) nor paragraph (2) applies and an agreement between the bank and its customer governing the deposit account expressly provides that the deposit account is maintained at an office in a particular jurisdiction, that jurisdiction is the bank’s jurisdiction.4\n\nIf none of the preceding paragraphs applies, the bank’s jurisdiction is the jurisdiction in which the office identified in an account statement as the office serving the customer’s account is located.5\n\nIf none of the preceding paragraphs applies, the bank’s jurisdiction is the jurisdiction in which the chief executive office of the bank is located.","order_by":null,"text":{"0":{"id":259781,"text":"Law of bank’s jurisdiction governs. The local law of a bank’s jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a deposit account maintained with that bank even if the transaction does not bear any relation to the bank’s jurisdiction.","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"b"},"1":{"id":259782,"text":"Bank’s jurisdiction. 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interests","url":"\/8.9A-301\/","token":"8.9A\/3\/1\/8.9A-301","metadata":false},{"id":73690,"structure_id":13859,"section_number":"8.9A-302","catch_line":"Law governing perfection and priority of agricultural liens","url":"\/8.9A-302\/","token":"8.9A\/3\/1\/8.9A-302","metadata":false},{"id":56057,"structure_id":13859,"section_number":"8.9A-303","catch_line":"Law governing perfection and priority of security interests in goods covered by a certificate of title","url":"\/8.9A-303\/","token":"8.9A\/3\/1\/8.9A-303","metadata":false},{"id":72095,"structure_id":13859,"section_number":"8.9A-304","catch_line":"Law governing perfection and priority of security interests in deposit accounts","url":"\/8.9A-304\/","token":"8.9A\/3\/1\/8.9A-304","metadata":false},{"id":79061,"structure_id":13859,"section_number":"8.9A-305","catch_line":"Law governing perfection and priority of security interests in investment property","url":"\/8.9A-305\/","token":"8.9A\/3\/1\/8.9A-305","metadata":false},{"id":71376,"structure_id":13859,"section_number":"8.9A-306","catch_line":"Law governing perfection and priority of security interests in letter-of-credit rights","url":"\/8.9A-306\/","token":"8.9A\/3\/1\/8.9A-306","metadata":false},{"id":55662,"structure_id":13859,"section_number":"8.9A-306.1","catch_line":"Law governing perfection and priority of security interests in chattel paper","url":"\/8.9A-306.1\/","token":"8.9A\/3\/1\/8.9A-306.1","metadata":false},{"id":54882,"structure_id":13859,"section_number":"8.9A-306.2","catch_line":"Law governing perfection and priority of security interests in controllable accounts, controllable electronic records, and controllable payment intangibles","url":"\/8.9A-306.2\/","token":"8.9A\/3\/1\/8.9A-306.2","metadata":false},{"id":68831,"structure_id":13859,"section_number":"8.9A-307","catch_line":"Location of debtor","url":"\/8.9A-307\/","token":"8.9A\/3\/1\/8.9A-307","metadata":false}],"previous_section":{"id":56057,"structure_id":13859,"section_number":"8.9A-303","catch_line":"Law governing perfection and priority of security interests in goods covered by a certificate of title","url":"\/8.9A-303\/","token":"8.9A\/3\/1\/8.9A-303","metadata":false},"next_section":{"id":79061,"structure_id":13859,"section_number":"8.9A-305","catch_line":"Law governing perfection and priority of security interests in investment property","url":"\/8.9A-305\/","token":"8.9A\/3\/1\/8.9A-305","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.9A-304\/","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 1 time. 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. That modification is as follows: in 2024, chapter 652<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":283959,"object_type":"law","relational_id":72095,"identifier":"8.9A-304","token":"8.9A\/3\/1\/8.9A-304","url":"\/8.9A-304\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.9A-304\/","token":"8.9A\/3\/1\/8.9A-304","dublin_core":{"Title":"Law governing perfection and priority of security interests in deposit accounts","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.9A-304","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> Law<\/span> of bank’s jurisdiction<\/span> governs. The local law<\/span> of a bank’s jurisdiction<\/span> governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a deposit account maintained with that bank even if the transaction does not bear any relation to the bank’s jurisdiction<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> Bank’s jurisdiction<\/span>. The following rules determine a bank’s jurisdiction<\/span> for purposes of this part: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> If an agreement between the bank and the debtor governing the deposit account expressly provides that a particular jurisdiction<\/span> is the bank’s jurisdiction<\/span> for purposes of this part, this title, or the Uniform Commercial Code, that jurisdiction<\/span> is the bank’s jurisdiction<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> If paragraph (1) does not apply and an agreement between the bank and its customer governing the deposit account expressly provides that the agreement is governed by the law<\/span> of a particular jurisdiction<\/span>, that jurisdiction<\/span> is the bank’s jurisdiction<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> If neither paragraph (1) nor paragraph (2) applies and an agreement between the bank and its customer governing the deposit account expressly provides that the deposit account is maintained at an office in a particular jurisdiction<\/span>, that jurisdiction<\/span> is the bank’s jurisdiction<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> If none of the preceding paragraphs applies, the bank’s jurisdiction<\/span> is the jurisdiction<\/span> in which the office identified in an account statement as the office serving the customer’s account is located. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> If none of the preceding paragraphs applies, the bank’s jurisdiction<\/span> is the jurisdiction<\/span> in which the chief executive office of the bank is located. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nLAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN DEPOSIT ACCOUNTS\n(\u00a7 8.9A-304)\n\na. Law of bank’s jurisdiction governs. The local law of a bank’s\njurisdiction governs perfection, the effect of perfection or nonperfection, and\nthe priority of a security interest in a deposit account maintained with that\nbank even if the transaction does not bear any relation to the bank’s\njurisdiction.\n\nb. Bank’s jurisdiction. The following rules determine a bank’s\njurisdiction for purposes of this part:\n\n 1. If an agreement between the bank and the debtor governing the deposit\n account expressly provides that a particular jurisdiction is the bank’s\n jurisdiction for purposes of this part, this title, or the Uniform Commercial\n Code, that jurisdiction is the bank’s jurisdiction.\n\n 2. If paragraph (1) does not apply and an agreement between the bank and its\n customer governing the deposit account expressly provides that the agreement\n is governed by the law of a particular jurisdiction, that jurisdiction is the\n bank’s jurisdiction.\n\n 3. If neither paragraph (1) nor paragraph (2) applies and an agreement between\n the bank and its customer governing the deposit account expressly provides\n that the deposit account is maintained at an office in a particular\n jurisdiction, that jurisdiction is the bank’s jurisdiction.\n\n 4. If none of the preceding paragraphs applies, the bank’s jurisdiction\n is the jurisdiction in which the office identified in an account statement as\n the office serving the customer’s account is located.\n\n 5. If none of the preceding paragraphs applies, the bank’s jurisdiction\n is the jurisdiction in which the chief executive office of the bank is\n located.\n\nHISTORY: 2000, c. 1007; 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}}