{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.9A-313.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.9A-313.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.9A-313.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.9A-313.html"}],"law_id":59813,"edition_id":1,"section_id":59813,"structure_id":15119,"section_number":"8.9A-313","catch_line":"When possession by or delivery to secured party perfects security interest without filing","history":"1964, c. 219, \u00a7 8.9-305; 1973, c. 509; 1984, c. 613; 1996, c. 216, \u00a7 8.9-115; 1997, c. 343; 2000, c. 1007; 2004, c. 200; 2024, c. 652.","full_text":"a\n\nPerfection by possession or delivery. Except as otherwise provided in subsection (b), a secured party may perfect a security interest in goods, instruments, negotiable tangible documents, or tangible money by taking possession of the collateral. A secured party may perfect a security interest in certificated securities by taking delivery of the certificated securities under &#xA7; 8.8A-301.b\n\nGoods covered by certificate of title. With respect to goods covered by a certificate of title issued by this Commonwealth, a secured party may perfect a security interest in the goods by taking possession of the goods only in the circumstances described in &#xA7; 8.9A-316 (d).c\n\nCollateral in possession of person other than debtor. With respect to collateral other than certificated securities and goods covered by a document, a secured party takes possession of collateral in the possession of a person other than the debtor, the secured party, or a lessee of the collateral from the debtor in the ordinary course of the debtor&#8217;s business, when:1\n\nthe person in possession signs a record acknowledging that it holds possession of the collateral for the secured party&#8217;s benefit; or2\n\nthe person takes possession of the collateral after having signed a record acknowledging that it will hold possession of the collateral for the secured party&#8217;s benefit.d\n\nTime of perfection by possession; continuation of perfection. If perfection of a security interest depends upon possession of the collateral by a secured party, perfection occurs not earlier than the time the secured party takes possession and continues only while the secured party retains possession.e\n\nTime of perfection by delivery; continuation of perfection. A security interest in a certificated security in registered form is perfected by delivery when delivery of the certificated security occurs under &#xA7; 8.8A-301 and remains perfected by delivery until the debtor obtains possession of the security certificate.f\n\nAcknowledgment not required. A person in possession of collateral is not required to acknowledge that it holds possession for a secured party&#8217;s benefit.g\n\nEffectiveness of acknowledgment; no duties or confirmation. If a person acknowledges that it holds possession for the secured party&#8217;s benefit:1\n\nthe acknowledgment is effective under subsection (c) or &#xA7; 8.8A-301 (a), even if the acknowledgment violates the rights of a debtor; and2\n\nunless the person otherwise agrees or law other than this title otherwise provides, the person does not owe any duty to the secured party and is not required to confirm the acknowledgment to another person.h\n\nSecured party&#8217;s delivery to person other than debtor. A secured party having possession of collateral does not relinquish possession by delivering the collateral to a person other than the debtor or a lessee of the collateral from the debtor in the ordinary course of the debtor&#8217;s business if the person was instructed before the delivery or is instructed contemporaneously with the delivery:1\n\nto hold possession of the collateral for the secured party&#8217;s benefit; or2\n\nto redeliver the collateral to the secured party.i\n\nEffect of delivery under subsection (h); no duties or confirmation. A secured party does not relinquish possession, even if a delivery under subsection (h) violates the rights of a debtor. A person to which collateral is delivered under subsection (h) does not owe any duty to the secured party and is not required to confirm the delivery to another person unless the person otherwise agrees or law other than this title otherwise provides.","order_by":null,"text":{"0":{"id":219027,"text":"Perfection by possession or delivery. Except as otherwise provided in subsection (b), a secured party may perfect a security interest in goods, instruments, negotiable tangible documents, or tangible money by taking possession of the collateral. A secured party may perfect a security interest in certificated securities by taking delivery of the certificated securities under &#xA7; 8.8A-301.","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"b"},"1":{"id":219028,"text":"Goods covered by certificate of title. With respect to goods covered by a certificate of title issued by this Commonwealth, a secured party may perfect a security interest in the goods by taking possession of the goods only in the circumstances described in &#xA7; 8.9A-316 (d).","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a","next_prefix":"c"},"2":{"id":219029,"text":"Collateral in possession of person other than debtor. With respect to collateral other than certificated securities and goods covered by a document, a secured party takes possession of collateral in the possession of a person other than the debtor, the secured party, or a lessee of the collateral from the debtor in the ordinary course of the debtor&#8217;s business, when:","type":"section","prefixes":["c"],"prefix":"c","entire_prefix":"c","prefix_anchor":"c","level":1,"prior_prefix":"b","next_prefix":"c1"},"3":{"id":219030,"text":"the person in possession signs a record acknowledging that it holds possession of the collateral for the secured party&#8217;s benefit; or","type":"section","prefixes":["c","1"],"prefix":"1","entire_prefix":"c1","prefix_anchor":"c1","level":2,"prior_prefix":"c","next_prefix":"c2"},"4":{"id":219031,"text":"the person takes possession of the collateral after having signed a record acknowledging that it will hold possession of the collateral for the secured party&#8217;s benefit.","type":"section","prefixes":["c","2"],"prefix":"2","entire_prefix":"c2","prefix_anchor":"c2","level":2,"prior_prefix":"c1","next_prefix":"d"},"5":{"id":219032,"text":"Time of perfection by possession; continuation of perfection. If perfection of a security interest depends upon possession of the collateral by a secured party, perfection occurs not earlier than the time the secured party takes possession and continues only while the secured party retains possession.","type":"section","prefixes":["d"],"prefix":"d","entire_prefix":"d","prefix_anchor":"d","level":1,"prior_prefix":"c2","next_prefix":"e"},"6":{"id":219033,"text":"Time of perfection by delivery; continuation of perfection. A security interest in a certificated security in registered form is perfected by delivery when delivery of the certificated security occurs under &#xA7; 8.8A-301 and remains perfected by delivery until the debtor obtains possession of the security certificate.","type":"section","prefixes":["e"],"prefix":"e","entire_prefix":"e","prefix_anchor":"e","level":1,"prior_prefix":"d","next_prefix":"f"},"7":{"id":219034,"text":"Acknowledgment not required. A person in possession of collateral is not required to acknowledge that it holds possession for a secured party&#8217;s benefit.","type":"section","prefixes":["f"],"prefix":"f","entire_prefix":"f","prefix_anchor":"f","level":1,"prior_prefix":"e","next_prefix":"g"},"8":{"id":219035,"text":"Effectiveness of acknowledgment; no duties or confirmation. If a person acknowledges that it holds possession for the secured party&#8217;s benefit:","type":"section","prefixes":["g"],"prefix":"g","entire_prefix":"g","prefix_anchor":"g","level":1,"prior_prefix":"f","next_prefix":"g1"},"9":{"id":219036,"text":"the acknowledgment is effective under subsection (c) or &#xA7; 8.8A-301 (a), even if the acknowledgment violates the rights of a debtor; and","type":"section","prefixes":["g","1"],"prefix":"1","entire_prefix":"g1","prefix_anchor":"g1","level":2,"prior_prefix":"g","next_prefix":"g2"},"10":{"id":219037,"text":"unless the person otherwise agrees or law other than this title otherwise provides, the person does not owe any duty to the secured party and is not required to confirm the acknowledgment to another person.","type":"section","prefixes":["g","2"],"prefix":"2","entire_prefix":"g2","prefix_anchor":"g2","level":2,"prior_prefix":"g1","next_prefix":"h"},"11":{"id":219038,"text":"Secured party&#8217;s delivery to person other than debtor. A secured party having possession of collateral does not relinquish possession by delivering the collateral to a person other than the debtor or a lessee of the collateral from the debtor in the ordinary course of the debtor&#8217;s business if the person was instructed before the delivery or is instructed contemporaneously with the delivery:","type":"section","prefixes":["h"],"prefix":"h","entire_prefix":"h","prefix_anchor":"h","level":1,"prior_prefix":"g2","next_prefix":"h1"},"12":{"id":219039,"text":"to hold possession of the collateral for the secured party&#8217;s benefit; or","type":"section","prefixes":["h","1"],"prefix":"1","entire_prefix":"h1","prefix_anchor":"h1","level":2,"prior_prefix":"h","next_prefix":"h2"},"13":{"id":219040,"text":"to redeliver the collateral to the secured party.","type":"section","prefixes":["h","2"],"prefix":"2","entire_prefix":"h2","prefix_anchor":"h2","level":2,"prior_prefix":"h1","next_prefix":"i"},"14":{"id":219041,"text":"Effect of delivery under subsection (h); no duties or confirmation. A secured party does not relinquish possession, even if a delivery under subsection (h) violates the rights of a debtor. A person to which collateral is delivered under subsection (h) does not owe any duty to the secured party and is not required to confirm the delivery to another person unless the person otherwise agrees or law other than this title otherwise provides.","type":"section","prefixes":["i"],"prefix":"i","entire_prefix":"i","prefix_anchor":"i","level":1,"prior_prefix":"h2"}},"ancestry":[{"id":15119,"edition_id":1,"name":"Perfection","identifier":"2","label":"subpart","depth":3,"order_by":1,"parent_id":13858,"metadata":{},"date_created":"2026-06-26 03:52:16","date_modified":"2026-06-26 03:52:16","permalink":{"id":283983,"object_type":"structure","relational_id":15119,"identifier":"2","token":"8.9A\/3\/2","url":"\/8.9A\/3\/2\/","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":84738,"structure_id":15119,"section_number":"8.9A-308","catch_line":"When security interest or agricultural lien is perfected; continuity of perfection","url":"\/8.9A-308\/","token":"8.9A\/3\/2\/8.9A-308","metadata":false},{"id":71502,"structure_id":15119,"section_number":"8.9A-309","catch_line":"Security interest perfected upon attachment","url":"\/8.9A-309\/","token":"8.9A\/3\/2\/8.9A-309","metadata":false},{"id":57600,"structure_id":15119,"section_number":"8.9A-310","catch_line":"When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply","url":"\/8.9A-310\/","token":"8.9A\/3\/2\/8.9A-310","metadata":false},{"id":59215,"structure_id":15119,"section_number":"8.9A-311","catch_line":"Perfection of security interests in property subject to certain statutes, regulations, and treaties","url":"\/8.9A-311\/","token":"8.9A\/3\/2\/8.9A-311","metadata":false},{"id":64453,"structure_id":15119,"section_number":"8.9A-312","catch_line":"Perfection of security interests in chattel paper, controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money; perfection by permissive filing, temporary perfection without filing or transfer of possession","url":"\/8.9A-312\/","token":"8.9A\/3\/2\/8.9A-312","metadata":false},{"id":59813,"structure_id":15119,"section_number":"8.9A-313","catch_line":"When possession by or delivery to secured party perfects security interest without filing","url":"\/8.9A-313\/","token":"8.9A\/3\/2\/8.9A-313","metadata":false},{"id":85234,"structure_id":15119,"section_number":"8.9A-314","catch_line":"Perfection by control","url":"\/8.9A-314\/","token":"8.9A\/3\/2\/8.9A-314","metadata":false},{"id":74925,"structure_id":15119,"section_number":"8.9A-314.1","catch_line":"Perfection by possession and control of chattel paper","url":"\/8.9A-314.1\/","token":"8.9A\/3\/2\/8.9A-314.1","metadata":false},{"id":76348,"structure_id":15119,"section_number":"8.9A-315","catch_line":"Secured party's rights on disposition of collateral and in proceeds","url":"\/8.9A-315\/","token":"8.9A\/3\/2\/8.9A-315","metadata":false},{"id":82133,"structure_id":15119,"section_number":"8.9A-316","catch_line":"Effect of change in governing law","url":"\/8.9A-316\/","token":"8.9A\/3\/2\/8.9A-316","metadata":false}],"previous_section":{"id":64453,"structure_id":15119,"section_number":"8.9A-312","catch_line":"Perfection of security interests in chattel paper, controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money; perfection by permissive filing, temporary perfection without filing or transfer of possession","url":"\/8.9A-312\/","token":"8.9A\/3\/2\/8.9A-312","metadata":false},"next_section":{"id":85234,"structure_id":15119,"section_number":"8.9A-314","catch_line":"Perfection by control","url":"\/8.9A-314\/","token":"8.9A\/3\/2\/8.9A-314","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.9A-313\/","history_text":"<p>This law was first created in 1964. The record of its establishment is cataloged in chapter 219 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. Unfortunately, the 1964 \u201cActs\u201d aren\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 1973, chapter 509; in 1984, chapter 613; in 1996, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?961+ful+CHAP0216\">216<\/a>; in 1997, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?971+ful+CHAP0343\">343<\/a>; in 2000, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?001+ful+CHAP1007\">1007<\/a>; in 2004, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?041+ful+CHAP0200\">200<\/a>; in 2024, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?241+ful+CHAP0652\">652<\/a>.<\/p>","references":[{"id":74128,"section_number":"8.9A-203","catch_line":"Attachment and enforceability of security interest; proceeds, supporting obligations; formal requisites","order_by":null,"url":"\/8.9A-203\/"},{"id":57600,"section_number":"8.9A-310","catch_line":"When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply","order_by":null,"url":"\/8.9A-310\/"},{"id":59215,"section_number":"8.9A-311","catch_line":"Perfection of security interests in property subject to certain statutes, regulations, and treaties","order_by":null,"url":"\/8.9A-311\/"},{"id":64453,"section_number":"8.9A-312","catch_line":"Perfection of security interests in chattel paper, controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money; perfection by permissive filing, temporary perfection without filing or transfer of possession","order_by":null,"url":"\/8.9A-312\/"},{"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":82133,"section_number":"8.9A-316","catch_line":"Effect of change in governing law","order_by":null,"url":"\/8.9A-316\/"},{"id":62582,"section_number":"8.9A-320","catch_line":"Buyer of goods","order_by":null,"url":"\/8.9A-320\/"},{"id":71019,"section_number":"8.9A-328","catch_line":"Priority of security interests in investment property","order_by":null,"url":"\/8.9A-328\/"}],"refers_to":[{"id":58567,"section_number":"8.8A-301","catch_line":"Delivery","order_by":null,"url":"\/8.8A-301\/"},{"id":82133,"section_number":"8.9A-316","catch_line":"Effect of change in governing law","order_by":null,"url":"\/8.9A-316\/"}],"permalink":{"id":284005,"object_type":"law","relational_id":59813,"identifier":"8.9A-313","token":"8.9A\/3\/2\/8.9A-313","url":"\/8.9A-313\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.9A-313\/","token":"8.9A\/3\/2\/8.9A-313","dublin_core":{"Title":"When possession by or delivery to secured party perfects security interest without filing","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.9A-313","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"a\"><p><span class=\"prefix-number\">a.<\/span> Perfection by <span class=\"dictionary\">possession<\/span> or delivery. Except as otherwise provided in subsection (b), a secured <span class=\"dictionary\">party<\/span> may perfect a security interest in goods, instruments, negotiable tangible documents, or tangible money by taking <span class=\"dictionary\">possession<\/span> of the <span class=\"dictionary\">collateral<\/span>. A secured <span class=\"dictionary\">party<\/span> may perfect a security interest in certificated securities by taking delivery of the certificated securities under &#xA7; <a class=\"law\" title=\"Delivery\" href=\"\/8.8A-301\/\">8.8A-301<\/a>. <a id=\"paragraph-219027\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-313\/#a\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"b\"><p><span class=\"prefix-number\">b.<\/span> Goods covered by certificate of title. With respect to goods covered by a certificate of title issued by this Commonwealth, a secured <span class=\"dictionary\">party<\/span> may perfect a security interest in the goods by taking <span class=\"dictionary\">possession<\/span> of the goods only in the circumstances described in &#xA7; <a class=\"law\" title=\"Effect of change in governing law\" href=\"\/8.9A-316\/\">8.9A-316<\/a> (d). <a id=\"paragraph-219028\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-313\/#b\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"c\"><p><span class=\"prefix-number\">c.<\/span> <span class=\"dictionary\">Collateral<\/span> in <span class=\"dictionary\">possession<\/span> of person other than debtor. With respect to <span class=\"dictionary\">collateral<\/span> other than certificated securities and goods covered by a document, a secured <span class=\"dictionary\">party<\/span> takes <span class=\"dictionary\">possession<\/span> of <span class=\"dictionary\">collateral<\/span> in the <span class=\"dictionary\">possession<\/span> of a person other than the debtor, the secured <span class=\"dictionary\">party<\/span>, or a lessee of the <span class=\"dictionary\">collateral<\/span> from the debtor in the ordinary course of the debtor&#8217;s business, when: <a id=\"paragraph-219029\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-313\/#c\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"c1\" class=\"indent-1\"><p><span class=\"prefix-number\">1.<\/span> the person in <span class=\"dictionary\">possession<\/span> signs a record acknowledging that it holds <span class=\"dictionary\">possession<\/span> of the <span class=\"dictionary\">collateral<\/span> for the secured <span class=\"dictionary\">party<\/span>&#8217;s benefit; or <a id=\"paragraph-219030\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-313\/#c1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"c2\" class=\"indent-1\"><p><span class=\"prefix-number\">2.<\/span> the person takes <span class=\"dictionary\">possession<\/span> of the <span class=\"dictionary\">collateral<\/span> after having signed a record acknowledging that it will hold <span class=\"dictionary\">possession<\/span> of the <span class=\"dictionary\">collateral<\/span> for the secured <span class=\"dictionary\">party<\/span>&#8217;s benefit. <a id=\"paragraph-219031\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-313\/#c2\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"d\"><p><span class=\"prefix-number\">d.<\/span> Time of perfection by <span class=\"dictionary\">possession<\/span>; continuation of perfection. If perfection of a security interest depends upon <span class=\"dictionary\">possession<\/span> of the <span class=\"dictionary\">collateral<\/span> by a secured <span class=\"dictionary\">party<\/span>, perfection occurs not earlier than the time the secured <span class=\"dictionary\">party<\/span> takes <span class=\"dictionary\">possession<\/span> and continues only while the secured <span class=\"dictionary\">party<\/span> retains <span class=\"dictionary\">possession<\/span>. <a id=\"paragraph-219032\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-313\/#d\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"e\"><p><span class=\"prefix-number\">e.<\/span> Time of perfection by delivery; continuation of perfection. A security interest in a certificated security in registered form is perfected by delivery when delivery of the certificated security occurs under &#xA7; <a class=\"law\" title=\"Delivery\" href=\"\/8.8A-301\/\">8.8A-301<\/a> and remains perfected by delivery until the debtor obtains <span class=\"dictionary\">possession<\/span> of the security certificate. <a id=\"paragraph-219033\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-313\/#e\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"f\"><p><span class=\"prefix-number\">f.<\/span> Acknowledgment not required. A person in <span class=\"dictionary\">possession<\/span> of <span class=\"dictionary\">collateral<\/span> is not required to acknowledge that it holds <span class=\"dictionary\">possession<\/span> for a secured <span class=\"dictionary\">party<\/span>&#8217;s benefit. <a id=\"paragraph-219034\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-313\/#f\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"g\"><p><span class=\"prefix-number\">g.<\/span> Effectiveness of acknowledgment; no duties or confirmation. If a person acknowledges that it holds <span class=\"dictionary\">possession<\/span> for the secured <span class=\"dictionary\">party<\/span>&#8217;s benefit: <a id=\"paragraph-219035\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-313\/#g\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"g1\" class=\"indent-1\"><p><span class=\"prefix-number\">1.<\/span> the acknowledgment is effective under subsection (c) or &#xA7; <a class=\"law\" title=\"Delivery\" href=\"\/8.8A-301\/\">8.8A-301<\/a> (a), even if the acknowledgment violates the rights of a debtor; and <a id=\"paragraph-219036\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-313\/#g1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"g2\" class=\"indent-1\"><p><span class=\"prefix-number\">2.<\/span> unless the person otherwise agrees or <span class=\"dictionary\">law<\/span> other than this title otherwise provides, the person does not owe any duty to the secured <span class=\"dictionary\">party<\/span> and is not required to confirm the acknowledgment to another person. <a id=\"paragraph-219037\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-313\/#g2\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"h\"><p><span class=\"prefix-number\">h.<\/span> Secured <span class=\"dictionary\">party<\/span>&#8217;s delivery to person other than debtor. A secured <span class=\"dictionary\">party<\/span> having <span class=\"dictionary\">possession<\/span> of <span class=\"dictionary\">collateral<\/span> does not relinquish <span class=\"dictionary\">possession<\/span> by delivering the <span class=\"dictionary\">collateral<\/span> to a person other than the debtor or a lessee of the <span class=\"dictionary\">collateral<\/span> from the debtor in the ordinary course of the debtor&#8217;s business if the person was instructed before the delivery or is instructed contemporaneously with the delivery: <a id=\"paragraph-219038\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-313\/#h\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"h1\" class=\"indent-1\"><p><span class=\"prefix-number\">1.<\/span> to hold <span class=\"dictionary\">possession<\/span> of the <span class=\"dictionary\">collateral<\/span> for the secured <span class=\"dictionary\">party<\/span>&#8217;s benefit; or <a id=\"paragraph-219039\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-313\/#h1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"h2\" class=\"indent-1\"><p><span class=\"prefix-number\">2.<\/span> to redeliver the <span class=\"dictionary\">collateral<\/span> to the secured <span class=\"dictionary\">party<\/span>. <a id=\"paragraph-219040\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-313\/#h2\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"i\"><p><span class=\"prefix-number\">i.<\/span> Effect of delivery under subsection (h); no duties or confirmation. A secured <span class=\"dictionary\">party<\/span> does not relinquish <span class=\"dictionary\">possession<\/span>, even if a delivery under subsection (h) violates the rights of a debtor. A person to which <span class=\"dictionary\">collateral<\/span> is delivered under subsection (h) does not owe any duty to the secured <span class=\"dictionary\">party<\/span> and is not required to confirm the delivery to another person unless the person otherwise agrees or <span class=\"dictionary\">law<\/span> other than this title otherwise provides. <a id=\"paragraph-219041\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-313\/#i\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nWHEN POSSESSION BY OR DELIVERY TO SECURED PARTY PERFECTS SECURITY INTEREST\nWITHOUT FILING (\u00a7 8.9A-313)\n\na. Perfection by possession or delivery. Except as otherwise provided in\nsubsection (b), a secured party may perfect a security interest in goods,\ninstruments, negotiable tangible documents, or tangible money by taking\npossession of the collateral. A secured party may perfect a security interest in\ncertificated securities by taking delivery of the certificated securities under\n&#xA7; 8.8A-301.\n\nb. Goods covered by certificate of title. With respect to goods covered by a\ncertificate of title issued by this Commonwealth, a secured party may perfect a\nsecurity interest in the goods by taking possession of the goods only in the\ncircumstances described in &#xA7; 8.9A-316 (d).\n\nc. Collateral in possession of person other than debtor. With respect to\ncollateral other than certificated securities and goods covered by a document, a\nsecured party takes possession of collateral in the possession of a person other\nthan the debtor, the secured party, or a lessee of the collateral from the\ndebtor in the ordinary course of the debtor&#8217;s business, when:\n\n   1. the person in possession signs a record acknowledging that it holds\n   possession of the collateral for the secured party&#8217;s benefit; or\n\n   2. the person takes possession of the collateral after having signed a record\n   acknowledging that it will hold possession of the collateral for the secured\n   party&#8217;s benefit.\n\nd. Time of perfection by possession; continuation of perfection. If perfection\nof a security interest depends upon possession of the collateral by a secured\nparty, perfection occurs not earlier than the time the secured party takes\npossession and continues only while the secured party retains possession.\n\ne. Time of perfection by delivery; continuation of perfection. A security\ninterest in a certificated security in registered form is perfected by delivery\nwhen delivery of the certificated security occurs under &#xA7; 8.8A-301 and\nremains perfected by delivery until the debtor obtains possession of the\nsecurity certificate.\n\nf. Acknowledgment not required. A person in possession of collateral is not\nrequired to acknowledge that it holds possession for a secured party&#8217;s\nbenefit.\n\ng. Effectiveness of acknowledgment; no duties or confirmation. If a person\nacknowledges that it holds possession for the secured party&#8217;s benefit:\n\n   1. the acknowledgment is effective under subsection (c) or &#xA7; 8.8A-301\n   (a), even if the acknowledgment violates the rights of a debtor; and\n\n   2. unless the person otherwise agrees or law other than this title otherwise\n   provides, the person does not owe any duty to the secured party and is not\n   required to confirm the acknowledgment to another person.\n\nh. Secured party&#8217;s delivery to person other than debtor. A secured party\nhaving possession of collateral does not relinquish possession by delivering the\ncollateral to a person other than the debtor or a lessee of the collateral from\nthe debtor in the ordinary course of the debtor&#8217;s business if the person\nwas instructed before the delivery or is instructed contemporaneously with the\ndelivery:\n\n   1. to hold possession of the collateral for the secured party&#8217;s benefit;\n   or\n\n   2. to redeliver the collateral to the secured party.\n\ni. Effect of delivery under subsection (h); no duties or confirmation. A secured\nparty does not relinquish possession, even if a delivery under subsection (h)\nviolates the rights of a debtor. A person to which collateral is delivered under\nsubsection (h) does not owe any duty to the secured party and is not required to\nconfirm the delivery to another person unless the person otherwise agrees or law\nother than this title otherwise provides.\n\nHISTORY: 1964, c. 219, \u00a7 8.9-305; 1973, c. 509; 1984, c. 613; 1996, c. 216, \u00a7\n8.9-115; 1997, c. 343; 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}}