{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.9A-315.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.9A-315.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.9A-315.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.9A-315.html"}],"law_id":76348,"edition_id":1,"section_id":76348,"structure_id":15119,"section_number":"8.9A-315","catch_line":"Secured party’s rights on disposition of collateral and in proceeds","history":"1964, c. 219, \u00a7 8.9-306; 1973, c. 509; 1983, c. 204; 1996, c. 216; 2000, c. 1007.","full_text":"a\n\nDisposition of collateral; continuation of security interest or agricultural lien; proceeds. Except as otherwise provided in this title and in \u00a7 8.2-403 (2):1\n\na security interest or agricultural lien continues in collateral notwithstanding sale, lease, license, exchange, or other disposition thereof unless the secured party authorized the disposition free of the security interest or agricultural lien; and2\n\na security interest attaches to any identifiable proceeds of collateral.b\n\nWhen commingled proceeds identifiable. Proceeds that are commingled with other property are identifiable proceeds:1\n\nif the proceeds are goods, to the extent provided by § 8.9A-336; and2\n\nif the proceeds are not goods, to the extent that the secured party identifies the proceeds by a method of tracing, including application of equitable principles, that is permitted under law other than this title with respect to commingled property of the type involved.c\n\nPerfection of security interest in proceeds. A security interest in proceeds is a perfected security interest if the security interest in the original collateral was perfected.d\n\nContinuation of perfection. A perfected security interest in proceeds becomes unperfected on the twenty-first day after the security interest attaches to the proceeds unless:1\n\nthe following conditions are satisfied:A\n\na filed financing statement covers the original collateral;B\n\nthe proceeds are collateral in which a security interest may be perfected by filing in the office in which the financing statement has been filed; andC\n\nthe proceeds are not acquired with cash proceeds;2\n\nthe proceeds are identifiable cash proceeds; or3\n\nthe security interest in the proceeds is perfected other than under subsection (c) when the security interest attaches to the proceeds or within twenty days thereafter.e\n\nWhen perfected security interest in proceeds becomes unperfected. If a filed financing statement covers the original collateral, a security interest in proceeds which remains perfected under subsection (d) (1) becomes unperfected at the later of:1\n\nwhen the effectiveness of the filed financing statement lapses under § 8.9A-515 or is terminated under § 8.9A-513; or2\n\nthe twenty-first day after the security interest attaches to the proceeds.","order_by":null,"text":{"0":{"id":274063,"text":"Disposition of collateral; continuation of security interest or agricultural lien; proceeds. Except as otherwise provided in this title and in \u00a7 8.2-403 (2):","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"a1"},"1":{"id":274064,"text":"a security interest or agricultural lien continues in collateral notwithstanding sale, lease, license, exchange, or other disposition thereof unless the secured party authorized the disposition free of the security interest or agricultural lien; and","type":"section","prefixes":["a","1"],"prefix":"1","entire_prefix":"a1","prefix_anchor":"a1","level":2,"prior_prefix":"a","next_prefix":"a2"},"2":{"id":274065,"text":"a security interest attaches to any identifiable proceeds of collateral.","type":"section","prefixes":["a","2"],"prefix":"2","entire_prefix":"a2","prefix_anchor":"a2","level":2,"prior_prefix":"a1","next_prefix":"b"},"3":{"id":274066,"text":"When commingled proceeds identifiable. Proceeds that are commingled with other property are identifiable proceeds:","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a2","next_prefix":"b1"},"4":{"id":274067,"text":"if the proceeds are goods, to the extent provided by § 8.9A-336; and","type":"section","prefixes":["b","1"],"prefix":"1","entire_prefix":"b1","prefix_anchor":"b1","level":2,"prior_prefix":"b","next_prefix":"b2"},"5":{"id":274068,"text":"if the proceeds are not goods, to the extent that the secured party identifies the proceeds by a method of tracing, including application of equitable principles, that is permitted under law other than this title with respect to commingled property of the type involved.","type":"section","prefixes":["b","2"],"prefix":"2","entire_prefix":"b2","prefix_anchor":"b2","level":2,"prior_prefix":"b1","next_prefix":"c"},"6":{"id":274069,"text":"Perfection of security interest in proceeds. A security interest in proceeds is a perfected security interest if the security interest in the original collateral was perfected.","type":"section","prefixes":["c"],"prefix":"c","entire_prefix":"c","prefix_anchor":"c","level":1,"prior_prefix":"b2","next_prefix":"d"},"7":{"id":274070,"text":"Continuation of perfection. A perfected security interest in proceeds becomes unperfected on the twenty-first day after the security interest attaches to the proceeds unless:","type":"section","prefixes":["d"],"prefix":"d","entire_prefix":"d","prefix_anchor":"d","level":1,"prior_prefix":"c","next_prefix":"d1"},"8":{"id":274071,"text":"the following conditions are satisfied:","type":"section","prefixes":["d","1"],"prefix":"1","entire_prefix":"d1","prefix_anchor":"d1","level":2,"prior_prefix":"d","next_prefix":"A"},"9":{"id":274072,"text":"a filed financing statement covers the original collateral;","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"d1","next_prefix":"B"},"10":{"id":274073,"text":"the proceeds are collateral in which a security interest may be perfected by filing in the office in which the financing statement has been filed; and","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"11":{"id":274074,"text":"the proceeds are not acquired with cash proceeds;","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"C2"},"12":{"id":274075,"text":"the proceeds are identifiable cash proceeds; or","type":"section","prefixes":["C","2"],"prefix":"2","entire_prefix":"C2","prefix_anchor":"C2","level":2,"prior_prefix":"C","next_prefix":"C3"},"13":{"id":274076,"text":"the security interest in the proceeds is perfected other than under subsection (c) when the security interest attaches to the proceeds or within twenty days thereafter.","type":"section","prefixes":["C","3"],"prefix":"3","entire_prefix":"C3","prefix_anchor":"C3","level":2,"prior_prefix":"C2","next_prefix":"e"},"14":{"id":274077,"text":"When perfected security interest in proceeds becomes unperfected. If a filed financing statement covers the original collateral, a security interest in proceeds which remains perfected under subsection (d) (1) becomes unperfected at the later of:","type":"section","prefixes":["e"],"prefix":"e","entire_prefix":"e","prefix_anchor":"e","level":1,"prior_prefix":"C3","next_prefix":"e1"},"15":{"id":274078,"text":"when the effectiveness of the filed financing statement lapses under § 8.9A-515 or is terminated under § 8.9A-513; or","type":"section","prefixes":["e","1"],"prefix":"1","entire_prefix":"e1","prefix_anchor":"e1","level":2,"prior_prefix":"e","next_prefix":"e2"},"16":{"id":274079,"text":"the twenty-first day after the security interest attaches to the proceeds.","type":"section","prefixes":["e","2"],"prefix":"2","entire_prefix":"e2","prefix_anchor":"e2","level":2,"prior_prefix":"e1"}},"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.9A-315\/","history_text":"

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 4 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 1983, chapter 204; in 1996, chapter 216<\/a>; in 2000, chapter 1007<\/a>.<\/p>","references":[{"id":59732,"section_number":"8.9A-109","catch_line":"Scope","order_by":null,"url":"\/8.9A-109\/"},{"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":61057,"section_number":"8.9A-204","catch_line":"After-acquired property; future advances","order_by":null,"url":"\/8.9A-204\/"},{"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":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":86245,"section_number":"8.9A-509","catch_line":"Persons entitled to file a record","order_by":null,"url":"\/8.9A-509\/"},{"id":78656,"section_number":"8.9A-607","catch_line":"Collection and enforcement by secured party","order_by":null,"url":"\/8.9A-607\/"}],"refers_to":[{"id":72662,"section_number":"8.2-403","catch_line":"Power to transfer; good faith purchase of goods; \"entrusting.\"","order_by":null,"url":"\/8.2-403\/"},{"id":80265,"section_number":"8.9A-336","catch_line":"Commingled goods","order_by":null,"url":"\/8.9A-336\/"},{"id":65185,"section_number":"8.9A-513","catch_line":"Termination statement","order_by":null,"url":"\/8.9A-513\/"},{"id":70878,"section_number":"8.9A-515","catch_line":"Duration and effectiveness of financing statement; effect of lapsed financing statement","order_by":null,"url":"\/8.9A-515\/"}],"permalink":{"id":284017,"object_type":"law","relational_id":76348,"identifier":"8.9A-315","token":"8.9A\/3\/2\/8.9A-315","url":"\/8.9A-315\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.9A-315\/","token":"8.9A\/3\/2\/8.9A-315","dublin_core":{"Title":"Secured party’s rights on disposition of collateral and in proceeds","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.9A-315","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> Disposition<\/span> of collateral<\/span>; continuation of security interest or agricultural lien<\/span>; proceeds. Except as otherwise provided in this title and in \u00a7 8.2-403<\/a> (2): <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> a security interest or agricultural lien<\/span> continues in collateral<\/span> notwithstanding sale, lease, license, exchange, or other disposition<\/span> thereof unless the secured party<\/span> authorized the disposition<\/span> free of the security interest or agricultural lien<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> a security interest attaches to any identifiable proceeds of collateral<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> When commingled proceeds identifiable. Proceeds that are commingled with other property are identifiable proceeds: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> if the proceeds are goods, to the extent provided by § 8.9A-336<\/a>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> if the proceeds are not goods, to the extent that the secured party<\/span> identifies the proceeds by a method of tracing, including application of equitable<\/span> principles, that is permitted under law<\/span> other than this title with respect to commingled property of the type involved. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

c.<\/span> Perfection of security interest in proceeds. A security interest in proceeds is a perfected security interest if the security interest in the original collateral<\/span> was perfected. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

d.<\/span> Continuation of perfection. A perfected security interest in proceeds becomes unperfected on the twenty-first day after the security interest attaches to the proceeds unless: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> the following conditions are satisfied: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> a filed financing statement covers the original collateral<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> the proceeds are collateral<\/span> in which a security interest may be perfected by filing in the office in which the financing statement has been filed; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> the proceeds are not acquired with cash proceeds; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> the proceeds are identifiable cash proceeds; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> the security interest in the proceeds is perfected other than under subsection (c) when the security interest attaches to the proceeds or within twenty days thereafter. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

e.<\/span> When perfected security interest in proceeds becomes unperfected. If a filed financing statement covers the original collateral<\/span>, a security interest in proceeds which remains perfected under subsection (d) (1) becomes unperfected at the later of: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> when the effectiveness of the filed financing statement lapses under § 8.9A-515<\/a> or is terminated under § 8.9A-513<\/a>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> the twenty-first day after the security interest attaches to the proceeds. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSECURED PARTY’S RIGHTS ON DISPOSITION OF COLLATERAL AND IN PROCEEDS (\u00a7\n8.9A-315)\n\na. Disposition of collateral; continuation of security interest or agricultural\nlien; proceeds. Except as otherwise provided in this title and in \u00a7 8.2-403\n(2):\n\n 1. a security interest or agricultural lien continues in collateral\n notwithstanding sale, lease, license, exchange, or other disposition thereof\n unless the secured party authorized the disposition free of the security\n interest or agricultural lien; and\n\n 2. a security interest attaches to any identifiable proceeds of collateral.\n\nb. When commingled proceeds identifiable. Proceeds that are commingled with\nother property are identifiable proceeds:\n\n 1. if the proceeds are goods, to the extent provided by § 8.9A-336; and\n\n 2. if the proceeds are not goods, to the extent that the secured party\n identifies the proceeds by a method of tracing, including application of\n equitable principles, that is permitted under law other than this title with\n respect to commingled property of the type involved.\n\nc. Perfection of security interest in proceeds. A security interest in proceeds\nis a perfected security interest if the security interest in the original\ncollateral was perfected.\n\nd. Continuation of perfection. A perfected security interest in proceeds becomes\nunperfected on the twenty-first day after the security interest attaches to the\nproceeds unless:\n\n 1. the following conditions are satisfied:\n\nA. a filed financing statement covers the original collateral;\n\nB. the proceeds are collateral in which a security interest may be perfected by\nfiling in the office in which the financing statement has been filed; and\n\nC. the proceeds are not acquired with cash proceeds;\n\n 2. the proceeds are identifiable cash proceeds; or\n\n 3. the security interest in the proceeds is perfected other than under\n subsection (c) when the security interest attaches to the proceeds or within\n twenty days thereafter.\n\ne. When perfected security interest in proceeds becomes unperfected. If a filed\nfinancing statement covers the original collateral, a security interest in\nproceeds which remains perfected under subsection (d) (1) becomes unperfected at\nthe later of:\n\n 1. when the effectiveness of the filed financing statement lapses under §\n 8.9A-515 or is terminated under § 8.9A-513; or\n\n 2. the twenty-first day after the security interest attaches to the proceeds.\n\nHISTORY: 1964, c. 219, \u00a7 8.9-306; 1973, c. 509; 1983, c. 204; 1996, c. 216;\n2000, c. 1007.","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}}