{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.9A-323.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.9A-323.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.9A-323.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.9A-323.html"}],"law_id":65781,"edition_id":1,"section_id":65781,"structure_id":14251,"section_number":"8.9A-323","catch_line":"Future advances","history":"Code 1950, \u00a7 43-27; 1964, c. 219, \u00a7\u00a7 8.9-301, 8.9-307, 8.9-312; 1966, c. 557; 1973, c. 509; 1983, c. 204; 1984, c. 613; 1991, c. 536, \u00a7 8.2A-307; 1996, c. 216; 2000, c. 1007; 2024, c. 652.","full_text":"a\n\nWhen priority based on time of advance. Except as otherwise provided in subsection (c), for purposes of determining the priority of a perfected security interest under \u00a7 8.9A-322 (a) (1), perfection of the security interest dates from the time an advance is made to the extent that the security interest secures an advance that:1\n\nis made while the security interest is perfected only:A\n\nunder &#xA7; 8.9A-309 when it attaches; orB\n\ntemporarily under \u00a7 8.9A-312 (e), (f), or (g); and2\n\nis not made pursuant to a commitment entered into before or while the security interest is perfected by a method other than under &#xA7; 8.9A-309 or &#xA7; 8.9A-312 (e), (f), or (g).b\n\nLien creditor. Except as otherwise provided in subsection (c), a security interest is subordinate to the rights of a person that becomes a lien creditor to the extent that the security interest secures an advance made more than forty-five days after the person becomes a lien creditor unless the advance is made:1\n\nwithout knowledge of the lien; or2\n\npursuant to a commitment entered into without knowledge of the lien.c\n\nBuyer of receivables. Subsections (a) and (b) do not apply to a security interest held by a secured party that is a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor.d\n\nBuyer of goods. Except as otherwise provided in subsection (e), a buyer of goods takes free of a security interest to the extent that it secures advances made after the earlier of:1\n\nthe time the secured party acquires knowledge of the buyer&#8217;s purchase; or2\n\nforty-five days after the purchase.e\n\nAdvances made pursuant to commitment; priority of buyer of goods. Subsection (d) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the buyer&#8217;s purchase and before the expiration of the forty-five day period.f\n\nLessee of goods. Except as otherwise provided in subsection (g), a lessee of goods takes the leasehold interest free of a security interest to the extent that it secures advances made after the earlier of:1\n\nthe time the secured party acquires knowledge of the lease; or2\n\nforty-five days after the lease contract becomes enforceable.g\n\nAdvances made pursuant to commitment: priority of lessee of goods. Subsection (f) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the lease and before the expiration of the forty-five day period.","order_by":null,"text":{"0":{"id":239060,"text":"When priority based on time of advance. Except as otherwise provided in subsection (c), for purposes of determining the priority of a perfected security interest under \u00a7 8.9A-322 (a) (1), perfection of the security interest dates from the time an advance is made to the extent that the security interest secures an advance that:","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"a1"},"1":{"id":239061,"text":"is made while the security interest is perfected only:","type":"section","prefixes":["a","1"],"prefix":"1","entire_prefix":"a1","prefix_anchor":"a1","level":2,"prior_prefix":"a","next_prefix":"A"},"2":{"id":239062,"text":"under &#xA7; 8.9A-309 when it attaches; or","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"a1","next_prefix":"B"},"3":{"id":239063,"text":"temporarily under \u00a7 8.9A-312 (e), (f), or (g); and","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B2"},"4":{"id":239064,"text":"is not made pursuant to a commitment entered into before or while the security interest is perfected by a method other than under &#xA7; 8.9A-309 or &#xA7; 8.9A-312 (e), (f), or (g).","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B","next_prefix":"b"},"5":{"id":239065,"text":"Lien creditor. Except as otherwise provided in subsection (c), a security interest is subordinate to the rights of a person that becomes a lien creditor to the extent that the security interest secures an advance made more than forty-five days after the person becomes a lien creditor unless the advance is made:","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"B2","next_prefix":"b1"},"6":{"id":239066,"text":"without knowledge of the lien; or","type":"section","prefixes":["b","1"],"prefix":"1","entire_prefix":"b1","prefix_anchor":"b1","level":2,"prior_prefix":"b","next_prefix":"b2"},"7":{"id":239067,"text":"pursuant to a commitment entered into without knowledge of the lien.","type":"section","prefixes":["b","2"],"prefix":"2","entire_prefix":"b2","prefix_anchor":"b2","level":2,"prior_prefix":"b1","next_prefix":"c"},"8":{"id":239068,"text":"Buyer of receivables. Subsections (a) and (b) do not apply to a security interest held by a secured party that is a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor.","type":"section","prefixes":["c"],"prefix":"c","entire_prefix":"c","prefix_anchor":"c","level":1,"prior_prefix":"b2","next_prefix":"d"},"9":{"id":239069,"text":"Buyer of goods. Except as otherwise provided in subsection (e), a buyer of goods takes free of a security interest to the extent that it secures advances made after the earlier of:","type":"section","prefixes":["d"],"prefix":"d","entire_prefix":"d","prefix_anchor":"d","level":1,"prior_prefix":"c","next_prefix":"d1"},"10":{"id":239070,"text":"the time the secured party acquires knowledge of the buyer&#8217;s purchase; or","type":"section","prefixes":["d","1"],"prefix":"1","entire_prefix":"d1","prefix_anchor":"d1","level":2,"prior_prefix":"d","next_prefix":"d2"},"11":{"id":239071,"text":"forty-five days after the purchase.","type":"section","prefixes":["d","2"],"prefix":"2","entire_prefix":"d2","prefix_anchor":"d2","level":2,"prior_prefix":"d1","next_prefix":"e"},"12":{"id":239072,"text":"Advances made pursuant to commitment; priority of buyer of goods. Subsection (d) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the buyer&#8217;s purchase and before the expiration of the forty-five day period.","type":"section","prefixes":["e"],"prefix":"e","entire_prefix":"e","prefix_anchor":"e","level":1,"prior_prefix":"d2","next_prefix":"f"},"13":{"id":239073,"text":"Lessee of goods. Except as otherwise provided in subsection (g), a lessee of goods takes the leasehold interest free of a security interest to the extent that it secures advances made after the earlier of:","type":"section","prefixes":["f"],"prefix":"f","entire_prefix":"f","prefix_anchor":"f","level":1,"prior_prefix":"e","next_prefix":"f1"},"14":{"id":239074,"text":"the time the secured party acquires knowledge of the lease; or","type":"section","prefixes":["f","1"],"prefix":"1","entire_prefix":"f1","prefix_anchor":"f1","level":2,"prior_prefix":"f","next_prefix":"f2"},"15":{"id":239075,"text":"forty-five days after the lease contract becomes enforceable.","type":"section","prefixes":["f","2"],"prefix":"2","entire_prefix":"f2","prefix_anchor":"f2","level":2,"prior_prefix":"f1","next_prefix":"g"},"16":{"id":239076,"text":"Advances made pursuant to commitment: priority of lessee of goods. Subsection (f) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the lease and before the expiration of the forty-five day period.","type":"section","prefixes":["g"],"prefix":"g","entire_prefix":"g","prefix_anchor":"g","level":1,"prior_prefix":"f2"}},"ancestry":[{"id":14251,"edition_id":1,"name":"Priority","identifier":"3","label":"subpart","depth":3,"order_by":1,"parent_id":13858,"metadata":{},"date_created":"2026-06-26 03:47:27","date_modified":"2026-06-26 03:47:27","permalink":{"id":284025,"object_type":"structure","relational_id":14251,"identifier":"3","token":"8.9A\/3\/3","url":"\/8.9A\/3\/3\/","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":62358,"structure_id":14251,"section_number":"8.9A-317","catch_line":"Interests that take priority over or take free of security interest or agricultural lien","url":"\/8.9A-317\/","token":"8.9A\/3\/3\/8.9A-317","metadata":false},{"id":78831,"structure_id":14251,"section_number":"8.9A-318","catch_line":"No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers","url":"\/8.9A-318\/","token":"8.9A\/3\/3\/8.9A-318","metadata":false},{"id":70155,"structure_id":14251,"section_number":"8.9A-319","catch_line":"Rights and title of consignee with respect to creditors and purchasers","url":"\/8.9A-319\/","token":"8.9A\/3\/3\/8.9A-319","metadata":false},{"id":62582,"structure_id":14251,"section_number":"8.9A-320","catch_line":"Buyer of goods","url":"\/8.9A-320\/","token":"8.9A\/3\/3\/8.9A-320","metadata":false},{"id":59162,"structure_id":14251,"section_number":"8.9A-321","catch_line":"Licensee of general intangible and lessee of goods in ordinary course of business","url":"\/8.9A-321\/","token":"8.9A\/3\/3\/8.9A-321","metadata":false},{"id":61423,"structure_id":14251,"section_number":"8.9A-322","catch_line":"Priorities among conflicting security interests in and agricultural liens on same collateral","url":"\/8.9A-322\/","token":"8.9A\/3\/3\/8.9A-322","metadata":false},{"id":65781,"structure_id":14251,"section_number":"8.9A-323","catch_line":"Future advances","url":"\/8.9A-323\/","token":"8.9A\/3\/3\/8.9A-323","metadata":false},{"id":72557,"structure_id":14251,"section_number":"8.9A-324","catch_line":"Priority of purchase-money security interests","url":"\/8.9A-324\/","token":"8.9A\/3\/3\/8.9A-324","metadata":false},{"id":61420,"structure_id":14251,"section_number":"8.9A-325","catch_line":"Priority of security interests in transferred collateral","url":"\/8.9A-325\/","token":"8.9A\/3\/3\/8.9A-325","metadata":false},{"id":62923,"structure_id":14251,"section_number":"8.9A-326","catch_line":"Priority of security interests created by new debtor","url":"\/8.9A-326\/","token":"8.9A\/3\/3\/8.9A-326","metadata":false},{"id":66791,"structure_id":14251,"section_number":"8.9A-326.1","catch_line":"Priority of security interest in controllable account, controllable electronic record, and controllable payment intangible","url":"\/8.9A-326.1\/","token":"8.9A\/3\/3\/8.9A-326.1","metadata":false},{"id":71092,"structure_id":14251,"section_number":"8.9A-327","catch_line":"Priority of security interests in deposit account","url":"\/8.9A-327\/","token":"8.9A\/3\/3\/8.9A-327","metadata":false},{"id":71019,"structure_id":14251,"section_number":"8.9A-328","catch_line":"Priority of security interests in investment property","url":"\/8.9A-328\/","token":"8.9A\/3\/3\/8.9A-328","metadata":false},{"id":66602,"structure_id":14251,"section_number":"8.9A-329","catch_line":"Priority of security interests in letter-of-credit right","url":"\/8.9A-329\/","token":"8.9A\/3\/3\/8.9A-329","metadata":false},{"id":62875,"structure_id":14251,"section_number":"8.9A-330","catch_line":"Priority of purchaser of chattel paper or instrument","url":"\/8.9A-330\/","token":"8.9A\/3\/3\/8.9A-330","metadata":false},{"id":66143,"structure_id":14251,"section_number":"8.9A-331","catch_line":"Priority of rights of purchasers of controllable accounts, controllable electronic records, controllable payment intangibles, documents, instruments and securities under other titles, priority of interests in financial assets and security entitlements and protection against assertion of claims under Titles 8.8A and 8.12","url":"\/8.9A-331\/","token":"8.9A\/3\/3\/8.9A-331","metadata":false},{"id":59890,"structure_id":14251,"section_number":"8.9A-332","catch_line":"Transfer of money, transfer of funds from deposit account","url":"\/8.9A-332\/","token":"8.9A\/3\/3\/8.9A-332","metadata":false},{"id":79779,"structure_id":14251,"section_number":"8.9A-333","catch_line":"Priority of certain liens arising by operation of law","url":"\/8.9A-333\/","token":"8.9A\/3\/3\/8.9A-333","metadata":false},{"id":71252,"structure_id":14251,"section_number":"8.9A-334","catch_line":"Priority of security interests in fixtures and crops","url":"\/8.9A-334\/","token":"8.9A\/3\/3\/8.9A-334","metadata":false},{"id":66095,"structure_id":14251,"section_number":"8.9A-335","catch_line":"Accessions","url":"\/8.9A-335\/","token":"8.9A\/3\/3\/8.9A-335","metadata":false},{"id":80265,"structure_id":14251,"section_number":"8.9A-336","catch_line":"Commingled goods","url":"\/8.9A-336\/","token":"8.9A\/3\/3\/8.9A-336","metadata":false},{"id":55482,"structure_id":14251,"section_number":"8.9A-337","catch_line":"Priority of security interests in goods covered by certificate of title","url":"\/8.9A-337\/","token":"8.9A\/3\/3\/8.9A-337","metadata":false},{"id":72213,"structure_id":14251,"section_number":"8.9A-338","catch_line":"Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information","url":"\/8.9A-338\/","token":"8.9A\/3\/3\/8.9A-338","metadata":false},{"id":61256,"structure_id":14251,"section_number":"8.9A-339","catch_line":"Priority subject to subordination","url":"\/8.9A-339\/","token":"8.9A\/3\/3\/8.9A-339","metadata":false}],"previous_section":{"id":61423,"structure_id":14251,"section_number":"8.9A-322","catch_line":"Priorities among conflicting security interests in and agricultural liens on same collateral","url":"\/8.9A-322\/","token":"8.9A\/3\/3\/8.9A-322","metadata":false},"next_section":{"id":72557,"structure_id":14251,"section_number":"8.9A-324","catch_line":"Priority of purchase-money security interests","url":"\/8.9A-324\/","token":"8.9A\/3\/3\/8.9A-324","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.9A-323\/","history_text":"<p>The record of this law\u2019s original creation isn\u2019t available online. It has been modified 9 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 1964, chapter 219; in 1966, chapter 557; in 1973, chapter 509; in 1983, chapter 204; in 1984, chapter 613; in 1991, chapter 536; in 1996, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?961+ful+CHAP0216\">216<\/a>; in 2000, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?001+ful+CHAP1007\">1007<\/a>; in 2024, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?241+ful+CHAP0652\">652<\/a>.<\/p>","references":[{"id":77642,"section_number":"8.2A-307","catch_line":"Priority of liens arising by attachment or levy on, security interests in, and other claims to goods","order_by":null,"url":"\/8.2A-307\/"},{"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":71502,"section_number":"8.9A-309","catch_line":"Security interest perfected upon attachment","order_by":null,"url":"\/8.9A-309\/"},{"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":61423,"section_number":"8.9A-322","catch_line":"Priorities among conflicting security interests in and agricultural liens on same collateral","order_by":null,"url":"\/8.9A-322\/"}],"permalink":{"id":284051,"object_type":"law","relational_id":65781,"identifier":"8.9A-323","token":"8.9A\/3\/3\/8.9A-323","url":"\/8.9A-323\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.9A-323\/","token":"8.9A\/3\/3\/8.9A-323","dublin_core":{"Title":"Future advances","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.9A-323","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"a\"><p><span class=\"prefix-number\">a.<\/span> When priority based on time of advance. Except as otherwise provided in subsection (c), for purposes of determining the priority of a perfected security interest under \u00a7&nbsp;<a class=\"law\" title=\"Priorities among conflicting security interests in and agricultural liens on same collateral\" href=\"\/8.9A-322\/\">8.9A-322<\/a> (a) (1), perfection of the security interest dates from the time an advance is made to the extent that the security interest secures an advance that: <a id=\"paragraph-239060\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-323\/#a\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"a1\" class=\"indent-1\"><p><span class=\"prefix-number\">1.<\/span> is made while the security interest is perfected only: <a id=\"paragraph-239061\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-323\/#a1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> under &#xA7; <a class=\"law\" title=\"Security interest perfected upon attachment\" href=\"\/8.9A-309\/\">8.9A-309<\/a> when it attaches; or <a id=\"paragraph-239062\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-323\/#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> temporarily under \u00a7&nbsp;<a class=\"law\" title=\"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\" href=\"\/8.9A-312\/\">8.9A-312<\/a> (e), (f), or (g); and <a id=\"paragraph-239063\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-323\/#B\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B2\" class=\"indent-1\"><p><span class=\"prefix-number\">2.<\/span> is not made pursuant to a commitment entered into before or while the security interest is perfected by a method other than under &#xA7; <a class=\"law\" title=\"Security interest perfected upon attachment\" href=\"\/8.9A-309\/\">8.9A-309<\/a> or &#xA7; <a class=\"law\" title=\"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\" href=\"\/8.9A-312\/\">8.9A-312<\/a> (e), (f), or (g). <a id=\"paragraph-239064\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-323\/#B2\"><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> <span class=\"dictionary\">Lien<\/span> <span class=\"dictionary\">creditor<\/span>. Except as otherwise provided in subsection (c), a security interest is subordinate to the rights of a person that becomes a <span class=\"dictionary\">lien<\/span> <span class=\"dictionary\">creditor<\/span> to the extent that the security interest secures an advance made more than forty-five days after the person becomes a <span class=\"dictionary\">lien<\/span> <span class=\"dictionary\">creditor<\/span> unless the advance is made: <a id=\"paragraph-239065\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-323\/#b\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"b1\" class=\"indent-1\"><p><span class=\"prefix-number\">1.<\/span> without knowledge of the <span class=\"dictionary\">lien<\/span>; or <a id=\"paragraph-239066\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-323\/#b1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"b2\" class=\"indent-1\"><p><span class=\"prefix-number\">2.<\/span> pursuant to a commitment entered into without knowledge of the <span class=\"dictionary\">lien<\/span>. <a id=\"paragraph-239067\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-323\/#b2\"><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> Buyer of receivables. Subsections (a) and (b) do not apply to a security interest held by a secured <span class=\"dictionary\">party<\/span> that is a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor. <a id=\"paragraph-239068\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-323\/#c\"><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> Buyer of goods. Except as otherwise provided in subsection (e), a buyer of goods takes free of a security interest to the extent that it secures advances made after the earlier of: <a id=\"paragraph-239069\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-323\/#d\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"d1\" class=\"indent-1\"><p><span class=\"prefix-number\">1.<\/span> the time the secured <span class=\"dictionary\">party<\/span> acquires knowledge of the buyer&#8217;s purchase; or <a id=\"paragraph-239070\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-323\/#d1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"d2\" class=\"indent-1\"><p><span class=\"prefix-number\">2.<\/span> forty-five days after the purchase. <a id=\"paragraph-239071\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-323\/#d2\"><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> Advances made pursuant to commitment; priority of buyer of goods. Subsection (d) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the buyer&#8217;s purchase and before the expiration of the forty-five day period. <a id=\"paragraph-239072\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-323\/#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> Lessee of goods. Except as otherwise provided in subsection (g), a lessee of goods takes the leasehold interest free of a security interest to the extent that it secures advances made after the earlier of: <a id=\"paragraph-239073\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-323\/#f\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"f1\" class=\"indent-1\"><p><span class=\"prefix-number\">1.<\/span> the time the secured <span class=\"dictionary\">party<\/span> acquires knowledge of the lease; or <a id=\"paragraph-239074\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-323\/#f1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"f2\" class=\"indent-1\"><p><span class=\"prefix-number\">2.<\/span> forty-five days after the lease <span class=\"dictionary\">contract<\/span> becomes enforceable. <a id=\"paragraph-239075\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-323\/#f2\"><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> Advances made pursuant to commitment: priority of lessee of goods. Subsection (f) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the lease and before the expiration of the forty-five day period. <a id=\"paragraph-239076\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/8.9A-323\/#g\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nFUTURE ADVANCES (\u00a7 8.9A-323)\n\na. When priority based on time of advance. Except as otherwise provided in\nsubsection (c), for purposes of determining the priority of a perfected security\ninterest under \u00a7 8.9A-322 (a) (1), perfection of the security interest dates\nfrom the time an advance is made to the extent that the security interest\nsecures an advance that:\n\n   1. is made while the security interest is perfected only:\n\nA. under &#xA7; 8.9A-309 when it attaches; or\n\nB. temporarily under \u00a7 8.9A-312 (e), (f), or (g); and\n\n   2. is not made pursuant to a commitment entered into before or while the\n   security interest is perfected by a method other than under &#xA7; 8.9A-309 or\n   &#xA7; 8.9A-312 (e), (f), or (g).\n\nb. Lien creditor. Except as otherwise provided in subsection (c), a security\ninterest is subordinate to the rights of a person that becomes a lien creditor\nto the extent that the security interest secures an advance made more than\nforty-five days after the person becomes a lien creditor unless the advance is\nmade:\n\n   1. without knowledge of the lien; or\n\n   2. pursuant to a commitment entered into without knowledge of the lien.\n\nc. Buyer of receivables. Subsections (a) and (b) do not apply to a security\ninterest held by a secured party that is a buyer of accounts, chattel paper,\npayment intangibles, or promissory notes or a consignor.\n\nd. Buyer of goods. Except as otherwise provided in subsection (e), a buyer of\ngoods takes free of a security interest to the extent that it secures advances\nmade after the earlier of:\n\n   1. the time the secured party acquires knowledge of the buyer&#8217;s\n   purchase; or\n\n   2. forty-five days after the purchase.\n\ne. Advances made pursuant to commitment; priority of buyer of goods. Subsection\n(d) does not apply if the advance is made pursuant to a commitment entered into\nwithout knowledge of the buyer&#8217;s purchase and before the expiration of the\nforty-five day period.\n\nf. Lessee of goods. Except as otherwise provided in subsection (g), a lessee of\ngoods takes the leasehold interest free of a security interest to the extent\nthat it secures advances made after the earlier of:\n\n   1. the time the secured party acquires knowledge of the lease; or\n\n   2. forty-five days after the lease contract becomes enforceable.\n\ng. Advances made pursuant to commitment: priority of lessee of goods. Subsection\n(f) does not apply if the advance is made pursuant to a commitment entered into\nwithout knowledge of the lease and before the expiration of the forty-five day\nperiod.\n\nHISTORY: Code 1950, \u00a7 43-27; 1964, c. 219, \u00a7\u00a7 8.9-301, 8.9-307, 8.9-312;\n1966, c. 557; 1973, c. 509; 1983, c. 204; 1984, c. 613; 1991, c. 536, \u00a7\n8.2A-307; 1996, c. 216; 2000, c. 1007; 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}}