{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.9A-515.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.9A-515.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.9A-515.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.9A-515.html"}],"law_id":70878,"edition_id":1,"section_id":70878,"structure_id":13861,"section_number":"8.9A-515","catch_line":"Duration and effectiveness of financing statement; effect of lapsed financing statement","history":"1964, c. 219, \u00a7 8.9-403; 1973, c. 509; 1975, c. 225; 1976, c. 536; 1977, c. 539; 1978, c. 284; 1982, c. 652; 1984, cc. 40, 771; 1985, c. 297; 1988, c. 804; 1990, cc. 89, 412; 1992, c. 784; 2000, c. 1007; 2012, c. 155.","full_text":"a\n\nFive-year effectiveness. Except as otherwise provided in subsections (b), (e), (f), and (g), a filed financing statement is effective for a period of five years after the date of filing.b\n\nPublic-finance or manufactured-home transaction. Except as otherwise provided in subsections (e), (f), and (g), an initial financing statement filed in connection with a public-finance transaction or manufactured-home transaction is effective for a period of thirty years after the date of filing if it indicates that it is filed in connection with a public-finance transaction or manufactured-home transaction.c\n\nLapse and continuation of financing statement. The effectiveness of a filed financing statement lapses on the expiration of the period of its effectiveness unless before the lapse a continuation statement is filed pursuant to subsection (d). Upon lapse, a financing statement ceases to be effective and any security interest or agricultural lien that was perfected by the financing statement becomes unperfected, unless the security interest is perfected otherwise. If the security interest or agricultural lien becomes unperfected upon lapse, it is deemed never to have been perfected as against a purchaser of the collateral for value.d\n\nWhen continuation statement may be filed. A continuation statement may be filed only within six months before the expiration of the five-year period specified in subsection (a) or the thirty-year period specified in subsection (b), whichever is applicable.e\n\nEffect of filing continuation statement. Except as otherwise provided in § 8.9A-510, upon timely filing of a continuation statement, the effectiveness of the initial financing statement continues for a period of five years commencing on the day on which the financing statement would have become ineffective in the absence of the filing. Upon the expiration of the five-year period, the financing statement lapses in the same manner as provided in subsection (c), unless, before the lapse, another continuation statement is filed pursuant to subsection (d). Succeeding continuation statements may be filed in the same manner to continue the effectiveness of the initial financing statement.f\n\nTransmitting utility financing statement. If a debtor is a transmitting utility and a filed initial financing statement so indicates, the financing statement is effective until a termination statement is filed.g\n\nRecord of mortgage as financing statement. A record of a mortgage that is effective as a financing statement filed as a fixture filing under § 8.9A-502 (c) remains effective as a financing statement filed as a fixture filing until the mortgage is released or satisfied of record or its effectiveness otherwise terminates as to the real property.","order_by":null,"text":{"0":{"id":255571,"text":"Five-year effectiveness. Except as otherwise provided in subsections (b), (e), (f), and (g), a filed financing statement is effective for a period of five years after the date of filing.","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"b"},"1":{"id":255572,"text":"Public-finance or manufactured-home transaction. Except as otherwise provided in subsections (e), (f), and (g), an initial financing statement filed in connection with a public-finance transaction or manufactured-home transaction is effective for a period of thirty years after the date of filing if it indicates that it is filed in connection with a public-finance transaction or manufactured-home transaction.","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a","next_prefix":"c"},"2":{"id":255573,"text":"Lapse and continuation of financing statement. The effectiveness of a filed financing statement lapses on the expiration of the period of its effectiveness unless before the lapse a continuation statement is filed pursuant to subsection (d). Upon lapse, a financing statement ceases to be effective and any security interest or agricultural lien that was perfected by the financing statement becomes unperfected, unless the security interest is perfected otherwise. If the security interest or agricultural lien becomes unperfected upon lapse, it is deemed never to have been perfected as against a purchaser of the collateral for value.","type":"section","prefixes":["c"],"prefix":"c","entire_prefix":"c","prefix_anchor":"c","level":1,"prior_prefix":"b","next_prefix":"d"},"3":{"id":255574,"text":"When continuation statement may be filed. A continuation statement may be filed only within six months before the expiration of the five-year period specified in subsection (a) or the thirty-year period specified in subsection (b), whichever is applicable.","type":"section","prefixes":["d"],"prefix":"d","entire_prefix":"d","prefix_anchor":"d","level":1,"prior_prefix":"c","next_prefix":"e"},"4":{"id":255575,"text":"Effect of filing continuation statement. Except as otherwise provided in § 8.9A-510, upon timely filing of a continuation statement, the effectiveness of the initial financing statement continues for a period of five years commencing on the day on which the financing statement would have become ineffective in the absence of the filing. Upon the expiration of the five-year period, the financing statement lapses in the same manner as provided in subsection (c), unless, before the lapse, another continuation statement is filed pursuant to subsection (d). Succeeding continuation statements may be filed in the same manner to continue the effectiveness of the initial financing statement.","type":"section","prefixes":["e"],"prefix":"e","entire_prefix":"e","prefix_anchor":"e","level":1,"prior_prefix":"d","next_prefix":"f"},"5":{"id":255576,"text":"Transmitting utility financing statement. If a debtor is a transmitting utility and a filed initial financing statement so indicates, the financing statement is effective until a termination statement is filed.","type":"section","prefixes":["f"],"prefix":"f","entire_prefix":"f","prefix_anchor":"f","level":1,"prior_prefix":"e","next_prefix":"g"},"6":{"id":255577,"text":"Record of mortgage as financing statement. A record of a mortgage that is effective as a financing statement filed as a fixture filing under § 8.9A-502 (c) remains effective as a financing statement filed as a fixture filing until the mortgage is released or satisfied of record or its effectiveness otherwise terminates as to the real property.","type":"section","prefixes":["g"],"prefix":"g","entire_prefix":"g","prefix_anchor":"g","level":1,"prior_prefix":"f"}},"ancestry":[{"id":13861,"edition_id":1,"name":"Filing Office, Contents and Effectiveness of Financing Statement","identifier":"1","label":"subpart","depth":3,"order_by":1,"parent_id":13860,"metadata":{},"date_created":"2026-06-26 03:46:06","date_modified":"2026-06-26 03:46:06","permalink":{"id":284177,"object_type":"structure","relational_id":13861,"identifier":"1","token":"8.9A\/5\/1","url":"\/8.9A\/5\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13860,"edition_id":1,"name":"Filing","identifier":"5","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":284175,"object_type":"structure","relational_id":13860,"identifier":"5","token":"8.9A\/5","url":"\/8.9A\/5\/","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":72400,"structure_id":13861,"section_number":"8.9A-501","catch_line":"Filing office","url":"\/8.9A-501\/","token":"8.9A\/5\/1\/8.9A-501","metadata":false},{"id":70542,"structure_id":13861,"section_number":"8.9A-502","catch_line":"Contents of financing statement; record of mortgage as financing statement; time of filing financing statement","url":"\/8.9A-502\/","token":"8.9A\/5\/1\/8.9A-502","metadata":false},{"id":81477,"structure_id":13861,"section_number":"8.9A-503","catch_line":"Name of debtor and secured party","url":"\/8.9A-503\/","token":"8.9A\/5\/1\/8.9A-503","metadata":false},{"id":54883,"structure_id":13861,"section_number":"8.9A-504","catch_line":"Indication of collateral","url":"\/8.9A-504\/","token":"8.9A\/5\/1\/8.9A-504","metadata":false},{"id":56694,"structure_id":13861,"section_number":"8.9A-505","catch_line":"Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions","url":"\/8.9A-505\/","token":"8.9A\/5\/1\/8.9A-505","metadata":false},{"id":61527,"structure_id":13861,"section_number":"8.9A-506","catch_line":"Effect of errors or omissions","url":"\/8.9A-506\/","token":"8.9A\/5\/1\/8.9A-506","metadata":false},{"id":65503,"structure_id":13861,"section_number":"8.9A-507","catch_line":"Effect of certain events on effectiveness of financing statement","url":"\/8.9A-507\/","token":"8.9A\/5\/1\/8.9A-507","metadata":false},{"id":83849,"structure_id":13861,"section_number":"8.9A-508","catch_line":"Effectiveness of financing statement if new debtor becomes bound by security agreement","url":"\/8.9A-508\/","token":"8.9A\/5\/1\/8.9A-508","metadata":false},{"id":86245,"structure_id":13861,"section_number":"8.9A-509","catch_line":"Persons entitled to file a record","url":"\/8.9A-509\/","token":"8.9A\/5\/1\/8.9A-509","metadata":false},{"id":84909,"structure_id":13861,"section_number":"8.9A-510","catch_line":"Effectiveness of filed record","url":"\/8.9A-510\/","token":"8.9A\/5\/1\/8.9A-510","metadata":false},{"id":77842,"structure_id":13861,"section_number":"8.9A-511","catch_line":"Secured party of record","url":"\/8.9A-511\/","token":"8.9A\/5\/1\/8.9A-511","metadata":false},{"id":87008,"structure_id":13861,"section_number":"8.9A-512","catch_line":"Amendment of financing statement","url":"\/8.9A-512\/","token":"8.9A\/5\/1\/8.9A-512","metadata":false},{"id":65185,"structure_id":13861,"section_number":"8.9A-513","catch_line":"Termination statement","url":"\/8.9A-513\/","token":"8.9A\/5\/1\/8.9A-513","metadata":false},{"id":59675,"structure_id":13861,"section_number":"8.9A-514","catch_line":"Assignment of powers of secured party of record","url":"\/8.9A-514\/","token":"8.9A\/5\/1\/8.9A-514","metadata":false},{"id":70878,"structure_id":13861,"section_number":"8.9A-515","catch_line":"Duration and effectiveness of financing statement; effect of lapsed financing statement","url":"\/8.9A-515\/","token":"8.9A\/5\/1\/8.9A-515","metadata":false},{"id":85389,"structure_id":13861,"section_number":"8.9A-516","catch_line":"What constitutes filing; effectiveness of filing","url":"\/8.9A-516\/","token":"8.9A\/5\/1\/8.9A-516","metadata":false},{"id":61963,"structure_id":13861,"section_number":"8.9A-517","catch_line":"Effect of indexing errors","url":"\/8.9A-517\/","token":"8.9A\/5\/1\/8.9A-517","metadata":false},{"id":64795,"structure_id":13861,"section_number":"8.9A-518","catch_line":"Claim concerning inaccurate or wrongfully filed record","url":"\/8.9A-518\/","token":"8.9A\/5\/1\/8.9A-518","metadata":false}],"previous_section":{"id":59675,"structure_id":13861,"section_number":"8.9A-514","catch_line":"Assignment of powers of secured party of record","url":"\/8.9A-514\/","token":"8.9A\/5\/1\/8.9A-514","metadata":false},"next_section":{"id":85389,"structure_id":13861,"section_number":"8.9A-516","catch_line":"What constitutes filing; effectiveness of filing","url":"\/8.9A-516\/","token":"8.9A\/5\/1\/8.9A-516","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.9A-515\/","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 13 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 1975, chapter 225; in 1976, chapter 536; in 1977, chapter 539; in 1978, chapter 284; in 1982, chapter 652; in 1984, chapters 40 and 771; in 1985, chapter 297; in 1988, chapter 804; in 1990, chapters 89 and 412; in 1992, chapter 784; in 2000, chapter 1007<\/a>; in 2012, chapter 155<\/a>.<\/p>","references":[{"id":76348,"section_number":"8.9A-315","catch_line":"Secured party's rights on disposition of collateral and in proceeds","order_by":null,"url":"\/8.9A-315\/"},{"id":84909,"section_number":"8.9A-510","catch_line":"Effectiveness of filed record","order_by":null,"url":"\/8.9A-510\/"},{"id":87008,"section_number":"8.9A-512","catch_line":"Amendment of financing statement","order_by":null,"url":"\/8.9A-512\/"},{"id":85389,"section_number":"8.9A-516","catch_line":"What constitutes filing; effectiveness of filing","order_by":null,"url":"\/8.9A-516\/"},{"id":78231,"section_number":"8.9A-519","catch_line":"Numbering, maintaining, and indexing records; communicating information provided in records","order_by":null,"url":"\/8.9A-519\/"},{"id":75566,"section_number":"8.9A-522","catch_line":"Maintenance and destruction of records","order_by":null,"url":"\/8.9A-522\/"},{"id":67311,"section_number":"8.9A-523","catch_line":"Information from filing office; sale or license of records","order_by":null,"url":"\/8.9A-523\/"},{"id":71951,"section_number":"8.9A-706","catch_line":"When initial financing statement suffices to continue effectiveness of financing statement","order_by":null,"url":"\/8.9A-706\/"},{"id":80193,"section_number":"8.9A-806","catch_line":"When initial financing statement suffices to continue effectiveness of financing statement","order_by":null,"url":"\/8.9A-806\/"}],"refers_to":[{"id":70542,"section_number":"8.9A-502","catch_line":"Contents of financing statement; record of mortgage as financing statement; time of filing financing statement","order_by":null,"url":"\/8.9A-502\/"},{"id":84909,"section_number":"8.9A-510","catch_line":"Effectiveness of filed record","order_by":null,"url":"\/8.9A-510\/"}],"permalink":{"id":284235,"object_type":"law","relational_id":70878,"identifier":"8.9A-515","token":"8.9A\/5\/1\/8.9A-515","url":"\/8.9A-515\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.9A-515\/","token":"8.9A\/5\/1\/8.9A-515","dublin_core":{"Title":"Duration and effectiveness of financing statement; effect of lapsed financing statement","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.9A-515","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> Five-year effectiveness. Except as otherwise provided in subsections (b), (e), (f), and (g), a filed financing statement is effective for a period of five years after the date of filing. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> Public-finance or manufactured-home transaction. Except as otherwise provided in subsections (e), (f), and (g), an initial financing statement filed in connection with a public-finance transaction or manufactured-home transaction is effective for a period of thirty years after the date of filing if it indicates that it is filed in connection with a public-finance transaction or manufactured-home transaction. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

c.<\/span> Lapse and continuation of financing statement. The effectiveness of a filed financing statement lapses on the expiration of the period of its effectiveness unless before the lapse a continuation statement is filed pursuant to subsection (d). Upon lapse, a financing statement ceases to be effective and any security interest or agricultural lien<\/span> that was perfected by the financing statement becomes unperfected, unless the security interest is perfected otherwise. If the security interest or agricultural lien<\/span> becomes unperfected upon lapse, it is deemed never to have been perfected as against a purchaser of the collateral<\/span> for value. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

d.<\/span> When continuation statement may be filed. A continuation statement may be filed only within six months before the expiration of the five-year period specified in subsection (a) or the thirty-year period specified in subsection (b), whichever is applicable. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

e.<\/span> Effect of filing continuation statement. Except as otherwise provided in § 8.9A-510<\/a>, upon timely filing of a continuation statement, the effectiveness of the initial financing statement continues for a period of five years commencing on the day on which the financing statement would have become ineffective in the absence of the filing. Upon the expiration of the five-year period, the financing statement lapses in the same manner as provided in subsection (c), unless, before the lapse, another continuation statement is filed pursuant to subsection (d). Succeeding continuation statements may be filed in the same manner to continue the effectiveness of the initial financing statement. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

f.<\/span> Transmitting utility financing statement. If a debtor is a transmitting utility and a filed initial financing statement so indicates, the financing statement is effective until a termination statement is filed. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

g.<\/span> Record of mortgage as financing statement. A record of a mortgage that is effective as a financing statement filed as a fixture filing under § 8.9A-502<\/a> (c) remains effective as a financing statement filed as a fixture filing until the mortgage is released or satisfied of record or its effectiveness otherwise terminates as to the real property. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDURATION AND EFFECTIVENESS OF FINANCING STATEMENT; EFFECT OF LAPSED FINANCING\nSTATEMENT (\u00a7 8.9A-515)\n\na. Five-year effectiveness. Except as otherwise provided in subsections (b),\n(e), (f), and (g), a filed financing statement is effective for a period of five\nyears after the date of filing.\n\nb. Public-finance or manufactured-home transaction. Except as otherwise provided\nin subsections (e), (f), and (g), an initial financing statement filed in\nconnection with a public-finance transaction or manufactured-home transaction is\neffective for a period of thirty years after the date of filing if it indicates\nthat it is filed in connection with a public-finance transaction or\nmanufactured-home transaction.\n\nc. Lapse and continuation of financing statement. The effectiveness of a filed\nfinancing statement lapses on the expiration of the period of its effectiveness\nunless before the lapse a continuation statement is filed pursuant to subsection\n(d). Upon lapse, a financing statement ceases to be effective and any security\ninterest or agricultural lien that was perfected by the financing statement\nbecomes unperfected, unless the security interest is perfected otherwise. If the\nsecurity interest or agricultural lien becomes unperfected upon lapse, it is\ndeemed never to have been perfected as against a purchaser of the collateral for\nvalue.\n\nd. When continuation statement may be filed. A continuation statement may be\nfiled only within six months before the expiration of the five-year period\nspecified in subsection (a) or the thirty-year period specified in subsection\n(b), whichever is applicable.\n\ne. Effect of filing continuation statement. Except as otherwise provided in\n§ 8.9A-510, upon timely filing of a continuation statement, the\neffectiveness of the initial financing statement continues for a period of five\nyears commencing on the day on which the financing statement would have become\nineffective in the absence of the filing. Upon the expiration of the five-year\nperiod, the financing statement lapses in the same manner as provided in\nsubsection (c), unless, before the lapse, another continuation statement is\nfiled pursuant to subsection (d). Succeeding continuation statements may be\nfiled in the same manner to continue the effectiveness of the initial financing\nstatement.\n\nf. Transmitting utility financing statement. If a debtor is a transmitting\nutility and a filed initial financing statement so indicates, the financing\nstatement is effective until a termination statement is filed.\n\ng. Record of mortgage as financing statement. A record of a mortgage that is\neffective as a financing statement filed as a fixture filing under §\n8.9A-502 (c) remains effective as a financing statement filed as a fixture\nfiling until the mortgage is released or satisfied of record or its\neffectiveness otherwise terminates as to the real property.\n\nHISTORY: 1964, c. 219, \u00a7 8.9-403; 1973, c. 509; 1975, c. 225; 1976, c. 536;\n1977, c. 539; 1978, c. 284; 1982, c. 652; 1984, cc. 40, 771; 1985, c. 297; 1988,\nc. 804; 1990, cc. 89, 412; 1992, c. 784; 2000, c. 1007; 2012, c. 155.","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}}