{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.9A-306.1.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.9A-306.1.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.9A-306.1.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.9A-306.1.html"}],"law_id":55662,"edition_id":1,"section_id":55662,"structure_id":13859,"section_number":"8.9A-306.1","catch_line":"Law governing perfection and priority of security interests in chattel paper","history":"2024, c. 652.","full_text":"a\n\nChattel paper evidenced by authoritative electronic copy. Except as provided in subsection (d), if chattel paper is evidenced only by an authoritative electronic copy of the chattel paper or is evidenced by an authoritative electronic copy and an authoritative tangible copy, the local law of the chattel paper’s jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in the chattel paper, even if the transaction does not bear any relation to the chattel paper’s jurisdiction.b\n\nChattel paper’s jurisdiction. The following rules determine the chattel paper’s jurisdiction under this section:1\n\nIf the authoritative electronic copy of the record evidencing chattel paper, or a record attached to or logically associated with the electronic copy and readily available for review, expressly provides that a particular jurisdiction is the chattel paper’s jurisdiction for purposes of this part, this article, or the Uniform Commercial Code, that jurisdiction is the chattel paper’s jurisdiction.2\n\nIf paragraph (1) does not apply and the rules of the system in which the authoritative electronic copy is recorded are readily available for review and expressly provide that a particular jurisdiction is the chattel paper’s jurisdiction for purposes of this part, this article, or the Uniform Commercial Code, that jurisdiction is the chattel paper’s jurisdiction.3\n\nIf paragraphs (1) and (2) do not apply and the authoritative electronic copy, or a record attached to or logically associated with the electronic copy and readily available for review, expressly provides that the chattel paper is governed by the law of a particular jurisdiction, that jurisdiction is the chattel paper’s jurisdiction.4\n\nIf paragraphs (1), (2), and (3) do not apply and the rules of the system in which the authoritative electronic copy is recorded are readily available for review and expressly provide that the chattel paper or the system is governed by the law of a particular jurisdiction, that jurisdiction is the chattel paper’s jurisdiction.5\n\nIf paragraphs (1) through (4) do not apply, the chattel paper’s jurisdiction is the jurisdiction in which the debtor is located.c\n\nChattel paper evidenced by authoritative tangible copy. If an authoritative tangible copy of a record evidences chattel paper and the chattel paper is not evidenced by an authoritative electronic copy, while the authoritative tangible copy of the record evidencing chattel paper is located in a jurisdiction, the local law of that jurisdiction governs:1\n\nperfection of a security interest in the chattel paper by possession under § 8.9A-314.1; and2\n\nthe effect of perfection or nonperfection and the priority of a security interest in the chattel paper.d\n\nWhen perfection governed by law of jurisdiction where debtor located. The local law of the jurisdiction in which the debtor is located governs perfection of a security interest in chattel paper by filing.","order_by":null,"text":{"0":{"id":204031,"text":"Chattel paper evidenced by authoritative electronic copy. Except as provided in subsection (d), if chattel paper is evidenced only by an authoritative electronic copy of the chattel paper or is evidenced by an authoritative electronic copy and an authoritative tangible copy, the local law of the chattel paper’s jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in the chattel paper, even if the transaction does not bear any relation to the chattel paper’s jurisdiction.","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"b"},"1":{"id":204032,"text":"Chattel paper’s jurisdiction. The following rules determine the chattel paper’s jurisdiction under this section:","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a","next_prefix":"b1"},"2":{"id":204033,"text":"If the authoritative electronic copy of the record evidencing chattel paper, or a record attached to or logically associated with the electronic copy and readily available for review, expressly provides that a particular jurisdiction is the chattel paper’s jurisdiction for purposes of this part, this article, or the Uniform Commercial Code, that jurisdiction is the chattel paper’s jurisdiction.","type":"section","prefixes":["b","1"],"prefix":"1","entire_prefix":"b1","prefix_anchor":"b1","level":2,"prior_prefix":"b","next_prefix":"b2"},"3":{"id":204034,"text":"If paragraph (1) does not apply and the rules of the system in which the authoritative electronic copy is recorded are readily available for review and expressly provide that a particular jurisdiction is the chattel paper’s jurisdiction for purposes of this part, this article, or the Uniform Commercial Code, that jurisdiction is the chattel paper’s jurisdiction.","type":"section","prefixes":["b","2"],"prefix":"2","entire_prefix":"b2","prefix_anchor":"b2","level":2,"prior_prefix":"b1","next_prefix":"b3"},"4":{"id":204035,"text":"If paragraphs (1) and (2) do not apply and the authoritative electronic copy, or a record attached to or logically associated with the electronic copy and readily available for review, expressly provides that the chattel paper is governed by the law of a particular jurisdiction, that jurisdiction is the chattel paper’s jurisdiction.","type":"section","prefixes":["b","3"],"prefix":"3","entire_prefix":"b3","prefix_anchor":"b3","level":2,"prior_prefix":"b2","next_prefix":"b4"},"5":{"id":204036,"text":"If paragraphs (1), (2), and (3) do not apply and the rules of the system in which the authoritative electronic copy is recorded are readily available for review and expressly provide that the chattel paper or the system is governed by the law of a particular jurisdiction, that jurisdiction is the chattel paper’s jurisdiction.","type":"section","prefixes":["b","4"],"prefix":"4","entire_prefix":"b4","prefix_anchor":"b4","level":2,"prior_prefix":"b3","next_prefix":"b5"},"6":{"id":204037,"text":"If paragraphs (1) through (4) do not apply, the chattel paper’s jurisdiction is the jurisdiction in which the debtor is located.","type":"section","prefixes":["b","5"],"prefix":"5","entire_prefix":"b5","prefix_anchor":"b5","level":2,"prior_prefix":"b4","next_prefix":"c"},"7":{"id":204038,"text":"Chattel paper evidenced by authoritative tangible copy. If an authoritative tangible copy of a record evidences chattel paper and the chattel paper is not evidenced by an authoritative electronic copy, while the authoritative tangible copy of the record evidencing chattel paper is located in a jurisdiction, the local law of that jurisdiction governs:","type":"section","prefixes":["c"],"prefix":"c","entire_prefix":"c","prefix_anchor":"c","level":1,"prior_prefix":"b5","next_prefix":"c1"},"8":{"id":204039,"text":"perfection of a security interest in the chattel paper by possession under § 8.9A-314.1; and","type":"section","prefixes":["c","1"],"prefix":"1","entire_prefix":"c1","prefix_anchor":"c1","level":2,"prior_prefix":"c","next_prefix":"c2"},"9":{"id":204040,"text":"the effect of perfection or nonperfection and the priority of a security interest in the chattel paper.","type":"section","prefixes":["c","2"],"prefix":"2","entire_prefix":"c2","prefix_anchor":"c2","level":2,"prior_prefix":"c1","next_prefix":"d"},"10":{"id":204041,"text":"When perfection governed by law of jurisdiction where debtor located. The local law of the jurisdiction in which the debtor is located governs perfection of a security interest in chattel paper by filing.","type":"section","prefixes":["d"],"prefix":"d","entire_prefix":"d","prefix_anchor":"d","level":1,"prior_prefix":"c2"}},"ancestry":[{"id":13859,"edition_id":1,"name":"Law Governing Perfection and Priority","identifier":"1","label":"subpart","depth":3,"order_by":1,"parent_id":13858,"metadata":{},"date_created":"2026-06-26 03:46:06","date_modified":"2026-06-26 03:46:06","permalink":{"id":283945,"object_type":"structure","relational_id":13859,"identifier":"1","token":"8.9A\/3\/1","url":"\/8.9A\/3\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13858,"edition_id":1,"name":"Perfection and Priority","identifier":"3","label":"part","depth":2,"order_by":1,"parent_id":13277,"metadata":{},"date_created":"2026-06-26 03:46:06","date_modified":"2026-06-26 03:46:06","permalink":{"id":283943,"object_type":"structure","relational_id":13858,"identifier":"3","token":"8.9A\/3","url":"\/8.9A\/3\/","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":70455,"structure_id":13859,"section_number":"8.9A-301","catch_line":"Law governing perfection and priority of security 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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.9A-306.1\/","history_text":"

This law was first created in 2024. The record of its establishment is cataloged in chapter 652<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":82133,"section_number":"8.9A-316","catch_line":"Effect of change in governing law","order_by":null,"url":"\/8.9A-316\/"}],"refers_to":[{"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\/"}],"permalink":{"id":283971,"object_type":"law","relational_id":55662,"identifier":"8.9A-306.1","token":"8.9A\/3\/1\/8.9A-306.1","url":"\/8.9A-306.1\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.9A-306.1\/","token":"8.9A\/3\/1\/8.9A-306.1","dublin_core":{"Title":"Law governing perfection and priority of security interests in chattel paper","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.9A-306.1","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> Chattel paper evidenced by authoritative electronic copy. Except as provided in subsection (d), if chattel paper is evidenced only by an authoritative electronic copy of the chattel paper or is evidenced by an authoritative electronic copy and an authoritative tangible copy, the local law<\/span> of the chattel paper’s jurisdiction<\/span> governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in the chattel paper, even if the transaction does not bear any relation to the chattel paper’s jurisdiction<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> Chattel paper’s jurisdiction<\/span>. The following rules determine the chattel paper’s jurisdiction<\/span> under this section: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> If the authoritative electronic copy of the record evidencing chattel paper, or a record attached to or logically associated with the electronic copy and readily available for review, expressly provides that a particular jurisdiction<\/span> is the chattel paper’s jurisdiction<\/span> for purposes of this part, this article, or the Uniform Commercial Code, that jurisdiction<\/span> is the chattel paper’s jurisdiction<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> If paragraph (1) does not apply and the rules of the system in which the authoritative electronic copy is recorded are readily available for review and expressly provide that a particular jurisdiction<\/span> is the chattel paper’s jurisdiction<\/span> for purposes of this part, this article, or the Uniform Commercial Code, that jurisdiction<\/span> is the chattel paper’s jurisdiction<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> If paragraphs (1) and (2) do not apply and the authoritative electronic copy, or a record attached to or logically associated with the electronic copy and readily available for review, expressly provides that the chattel paper is governed by the law<\/span> of a particular jurisdiction<\/span>, that jurisdiction<\/span> is the chattel paper’s jurisdiction<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> If paragraphs (1), (2), and (3) do not apply and the rules of the system in which the authoritative electronic copy is recorded are readily available for review and expressly provide that the chattel paper or the system is governed by the law<\/span> of a particular jurisdiction<\/span>, that jurisdiction<\/span> is the chattel paper’s jurisdiction<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> If paragraphs (1) through (4) do not apply, the chattel paper’s jurisdiction<\/span> is the jurisdiction<\/span> in which the debtor is located. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

c.<\/span> Chattel paper evidenced by authoritative tangible copy. If an authoritative tangible copy of a record evidences<\/span> chattel paper and the chattel paper is not evidenced by an authoritative electronic copy, while the authoritative tangible copy of the record evidencing chattel paper is located in a jurisdiction<\/span>, the local law<\/span> of that jurisdiction<\/span> governs: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> perfection of a security interest in the chattel paper by possession<\/span> under § 8.9A-314.1<\/a>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> the effect of perfection or nonperfection and the priority of a security interest in the chattel paper. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

d.<\/span> When perfection governed by law<\/span> of jurisdiction<\/span> where debtor located. The local law<\/span> of the jurisdiction<\/span> in which the debtor is located governs perfection of a security interest in chattel paper by filing. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nLAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN CHATTEL PAPER (\u00a7\n8.9A-306.1)\n\na. Chattel paper evidenced by authoritative electronic copy. Except as provided\nin subsection (d), if chattel paper is evidenced only by an authoritative\nelectronic copy of the chattel paper or is evidenced by an authoritative\nelectronic copy and an authoritative tangible copy, the local law of the chattel\npaper’s jurisdiction governs perfection, the effect of perfection or\nnonperfection, and the priority of a security interest in the chattel paper,\neven if the transaction does not bear any relation to the chattel paper’s\njurisdiction.\n\nb. Chattel paper’s jurisdiction. The following rules determine the chattel\npaper’s jurisdiction under this section:\n\n 1. If the authoritative electronic copy of the record evidencing chattel\n paper, or a record attached to or logically associated with the electronic\n copy and readily available for review, expressly provides that a particular\n jurisdiction is the chattel paper’s jurisdiction for purposes of this\n part, this article, or the Uniform Commercial Code, that jurisdiction is the\n chattel paper’s jurisdiction.\n\n 2. If paragraph (1) does not apply and the rules of the system in which the\n authoritative electronic copy is recorded are readily available for review and\n expressly provide that a particular jurisdiction is the chattel paper’s\n jurisdiction for purposes of this part, this article, or the Uniform\n Commercial Code, that jurisdiction is the chattel paper’s jurisdiction.\n\n 3. If paragraphs (1) and (2) do not apply and the authoritative electronic\n copy, or a record attached to or logically associated with the electronic copy\n and readily available for review, expressly provides that the chattel paper is\n governed by the law of a particular jurisdiction, that jurisdiction is the\n chattel paper’s jurisdiction.\n\n 4. If paragraphs (1), (2), and (3) do not apply and the rules of the system in\n which the authoritative electronic copy is recorded are readily available for\n review and expressly provide that the chattel paper or the system is governed\n by the law of a particular jurisdiction, that jurisdiction is the chattel\n paper’s jurisdiction.\n\n 5. If paragraphs (1) through (4) do not apply, the chattel paper’s\n jurisdiction is the jurisdiction in which the debtor is located.\n\nc. Chattel paper evidenced by authoritative tangible copy. If an authoritative\ntangible copy of a record evidences chattel paper and the chattel paper is not\nevidenced by an authoritative electronic copy, while the authoritative tangible\ncopy of the record evidencing chattel paper is located in a jurisdiction, the\nlocal law of that jurisdiction governs:\n\n 1. perfection of a security interest in the chattel paper by possession under\n § 8.9A-314.1; and\n\n 2. the effect of perfection or nonperfection and the priority of a security\n interest in the chattel paper.\n\nd. When perfection governed by law of jurisdiction where debtor located. The\nlocal law of the jurisdiction in which the debtor is located governs perfection\nof a security interest in chattel paper by filing.\n\nHISTORY: 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}}