{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.9A-314.1.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.9A-314.1.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.9A-314.1.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.9A-314.1.html"}],"law_id":74925,"edition_id":1,"section_id":74925,"structure_id":15119,"section_number":"8.9A-314.1","catch_line":"Perfection by possession and control of chattel paper","history":"2024, c. 652.","full_text":"a\n\nPerfection by possession and control. A secured party may perfect a security interest in chattel paper by taking possession of each authoritative tangible copy of the record evidencing the chattel paper and obtaining control of each authoritative electronic copy of the electronic record evidencing the chattel paper.b\n\nTime of perfection; continuation of perfection. A security interest is perfected under subsection (a) not earlier than the time the secured party takes possession and obtains control and remains perfected under subsection (a) only while the secured party retains possession and control.c\n\nApplication of § 8.9A-313 to perfection by possession of chattel paper. § 8.9A-313(c) and (f) through (i) applies to perfection by possession of an authoritative tangible copy of a record evidencing chattel paper.","order_by":null,"text":{"0":{"id":269198,"text":"Perfection by possession and control. A secured party may perfect a security interest in chattel paper by taking possession of each authoritative tangible copy of the record evidencing the chattel paper and obtaining control of each authoritative electronic copy of the electronic record evidencing the chattel paper.","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"b"},"1":{"id":269199,"text":"Time of perfection; continuation of perfection. A security interest is perfected under subsection (a) not earlier than the time the secured party takes possession and obtains control and remains perfected under subsection (a) only while the secured party retains possession and control.","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a","next_prefix":"c"},"2":{"id":269200,"text":"Application of § 8.9A-313 to perfection by possession of chattel paper. § 8.9A-313(c) and (f) through (i) applies to perfection by possession of an authoritative tangible copy of a record evidencing chattel paper.","type":"section","prefixes":["c"],"prefix":"c","entire_prefix":"c","prefix_anchor":"c","level":1,"prior_prefix":"b"}},"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.9A-314.1\/","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":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":55662,"section_number":"8.9A-306.1","catch_line":"Law governing perfection and priority of security interests in chattel paper","order_by":null,"url":"\/8.9A-306.1\/"}],"refers_to":[{"id":59813,"section_number":"8.9A-313","catch_line":"When possession by or delivery to secured party perfects security interest without filing","order_by":null,"url":"\/8.9A-313\/"}],"permalink":{"id":284013,"object_type":"law","relational_id":74925,"identifier":"8.9A-314.1","token":"8.9A\/3\/2\/8.9A-314.1","url":"\/8.9A-314.1\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.9A-314.1\/","token":"8.9A\/3\/2\/8.9A-314.1","dublin_core":{"Title":"Perfection by possession and control of chattel paper","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.9A-314.1","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> Perfection by possession<\/span> and control. A secured party<\/span> may perfect a security interest in chattel paper by taking possession<\/span> of each authoritative tangible copy of the record evidencing the chattel paper and obtaining control of each authoritative electronic copy of the electronic record evidencing the chattel paper. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> Time of perfection; continuation of perfection. A security interest is perfected under subsection (a) not earlier than the time the secured party<\/span> takes possession<\/span> and obtains control and remains perfected under subsection (a) only while the secured party<\/span> retains possession<\/span> and control. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

c.<\/span> Application of § 8.9A-313<\/a> to perfection by possession<\/span> of chattel paper. § 8.9A-313<\/a>(c) and (f) through (i) applies to perfection by possession<\/span> of an authoritative tangible copy of a record evidencing chattel paper. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPERFECTION BY POSSESSION AND CONTROL OF CHATTEL PAPER (\u00a7 8.9A-314.1)\n\na. Perfection by possession and control. A secured party may perfect a security\ninterest in chattel paper by taking possession of each authoritative tangible\ncopy of the record evidencing the chattel paper and obtaining control of each\nauthoritative electronic copy of the electronic record evidencing the chattel\npaper.\n\nb. Time of perfection; continuation of perfection. A security interest is\nperfected under subsection (a) not earlier than the time the secured party takes\npossession and obtains control and remains perfected under subsection (a) only\nwhile the secured party retains possession and control.\n\nc. Application of § 8.9A-313 to perfection by possession of chattel paper.\n§ 8.9A-313(c) and (f) through (i) applies to perfection by possession of an\nauthoritative tangible copy of a record evidencing chattel paper.\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}}