{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.9A-306.2.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.9A-306.2.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.9A-306.2.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.9A-306.2.html"}],"law_id":54882,"edition_id":1,"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","history":"2024, c. 652.","full_text":"a\n\nGoverning law: general rules. Except as provided in subsection (b), the local law of the controllable electronic record’s jurisdiction specified in § 8.12-107(c) and (d) governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a controllable electronic record and a security interest in a controllable account or controllable payment intangible evidenced by the controllable electronic record.b\n\nWhen perfection governed by law of jurisdiction where debtor located. The local law of the jurisdiction in which the debtor is located governs:1\n\nperfection of a security interest in a controllable account, controllable electronic record, or controllable payment intangible by filing; and2\n\nautomatic perfection of a security interest in a controllable payment intangible created by a sale of the controllable payment intangible.","order_by":null,"text":{"0":{"id":201340,"text":"Governing law: general rules. Except as provided in subsection (b), the local law of the controllable electronic record’s jurisdiction specified in § 8.12-107(c) and (d) governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a controllable electronic record and a security interest in a controllable account or controllable payment intangible evidenced by the controllable electronic record.","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"b"},"1":{"id":201341,"text":"When perfection governed by law of jurisdiction where debtor located. The local law of the jurisdiction in which the debtor is located governs:","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a","next_prefix":"b1"},"2":{"id":201342,"text":"perfection of a security interest in a controllable account, controllable electronic record, or controllable payment intangible by filing; and","type":"section","prefixes":["b","1"],"prefix":"1","entire_prefix":"b1","prefix_anchor":"b1","level":2,"prior_prefix":"b","next_prefix":"b2"},"3":{"id":201343,"text":"automatic perfection of a security interest in a controllable payment intangible created by a sale of the controllable payment intangible.","type":"section","prefixes":["b","2"],"prefix":"2","entire_prefix":"b2","prefix_anchor":"b2","level":2,"prior_prefix":"b1"}},"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.9A-306.2\/","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":70455,"section_number":"8.9A-301","catch_line":"Law governing perfection and priority of security interests","order_by":null,"url":"\/8.9A-301\/"},{"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":70196,"section_number":"8.12-107","catch_line":"Governing law","order_by":null,"url":"\/8.12-107\/"}],"permalink":{"id":283975,"object_type":"law","relational_id":54882,"identifier":"8.9A-306.2","token":"8.9A\/3\/1\/8.9A-306.2","url":"\/8.9A-306.2\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.9A-306.2\/","token":"8.9A\/3\/1\/8.9A-306.2","dublin_core":{"Title":"Law governing perfection and priority of security interests in controllable accounts, controllable electronic records, and controllable payment intangibles","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.9A-306.2","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> Governing law<\/span>: general rules. Except as provided in subsection (b), the local law<\/span> of the controllable electronic record’s jurisdiction<\/span> specified in § 8.12-107<\/a>(c) and (d) governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a controllable electronic record and a security interest in a controllable account or controllable payment intangible evidenced by the controllable electronic record. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/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: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> perfection of a security interest in a controllable account, controllable electronic record, or controllable payment intangible by filing; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> automatic perfection of a security interest in a controllable payment intangible created by a sale of the controllable payment intangible. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nLAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN CONTROLLABLE\nACCOUNTS, CONTROLLABLE ELECTRONIC RECORDS, AND CONTROLLABLE PAYMENT INTANGIBLES\n(\u00a7 8.9A-306.2)\n\na. Governing law: general rules. Except as provided in subsection (b), the local\nlaw of the controllable electronic record’s jurisdiction specified in\n§ 8.12-107(c) and (d) governs perfection, the effect of perfection or\nnonperfection, and the priority of a security interest in a controllable\nelectronic record and a security interest in a controllable account or\ncontrollable payment intangible evidenced by the controllable electronic record.\n\nb. When perfection governed by law of jurisdiction where debtor located. The\nlocal law of the jurisdiction in which the debtor is located governs:\n\n 1. perfection of a security interest in a controllable account, controllable\n electronic record, or controllable payment intangible by filing; and\n\n 2. automatic perfection of a security interest in a controllable payment\n intangible created by a sale of the controllable payment intangible.\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}}