{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.9A-703.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.9A-703.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.9A-703.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.9A-703.html"}],"law_id":56712,"edition_id":1,"section_id":56712,"structure_id":14834,"section_number":"8.9A-703","catch_line":"Security interest perfected before effective date","history":"2000, c. 1007; 2001, cc. 289, 296.","full_text":"a\n\nContinuing priority over lien creditor; perfection requirements satisfied. A security interest that is enforceable immediately before this title takes effect and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest under this title if, when this takes effect, the applicable requirements for enforceability and perfection under this title are satisfied without further action.b\n\nContinuing priority over lien creditor; perfection requirements not satisfied. Except as otherwise provided in \u00a7 8.9A-705, if, immediately before this title takes effect, a security interest is enforceable and would have priority over the rights of a person that becomes a lien creditor at that time, but the applicable requirements for enforceability or perfection under this title are not satisfied when this takes effect, the security interest:1\n\nis a perfected security interest for one year after this takes effect;2\n\nremains enforceable thereafter only if the security interest becomes enforceable under § 8.9A-203 before the year expires; and3\n\nremains perfected thereafter only if the applicable requirements for perfection under this title are satisfied before the year expires.c\n\nNotwithstanding subsections (a) and (b) of this section, a lien, pledge or security interest granted by the Commonwealth or a governmental unit of the Commonwealth prior to July 1, 2001, which is enforceable immediately before July 1, 2001, and would have priority over the rights of a person that becomes a lien creditor at that time, shall remain enforceable and continue to have such priority on or after July 1, 2001.","order_by":null,"text":{"0":{"id":207510,"text":"Continuing priority over lien creditor; perfection requirements satisfied. A security interest that is enforceable immediately before this title takes effect and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest under this title if, when this takes effect, the applicable requirements for enforceability and perfection under this title are satisfied without further action.","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"b"},"1":{"id":207511,"text":"Continuing priority over lien creditor; perfection requirements not satisfied. Except as otherwise provided in \u00a7 8.9A-705, if, immediately before this title takes effect, a security interest is enforceable and would have priority over the rights of a person that becomes a lien creditor at that time, but the applicable requirements for enforceability or perfection under this title are not satisfied when this takes effect, the security interest:","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a","next_prefix":"b1"},"2":{"id":207512,"text":"is a perfected security interest for one year after this takes effect;","type":"section","prefixes":["b","1"],"prefix":"1","entire_prefix":"b1","prefix_anchor":"b1","level":2,"prior_prefix":"b","next_prefix":"b2"},"3":{"id":207513,"text":"remains enforceable thereafter only if the security interest becomes enforceable under § 8.9A-203 before the year expires; and","type":"section","prefixes":["b","2"],"prefix":"2","entire_prefix":"b2","prefix_anchor":"b2","level":2,"prior_prefix":"b1","next_prefix":"b3"},"4":{"id":207514,"text":"remains perfected thereafter only if the applicable requirements for perfection under this title are satisfied before the year expires.","type":"section","prefixes":["b","3"],"prefix":"3","entire_prefix":"b3","prefix_anchor":"b3","level":2,"prior_prefix":"b2","next_prefix":"c"},"5":{"id":207515,"text":"Notwithstanding subsections (a) and (b) of this section, a lien, pledge or security interest granted by the Commonwealth or a governmental unit of the Commonwealth prior to July 1, 2001, which is enforceable immediately before July 1, 2001, and would have priority over the rights of a person that becomes a lien creditor at that time, shall remain enforceable and continue to have such priority on or after July 1, 2001.","type":"section","prefixes":["c"],"prefix":"c","entire_prefix":"c","prefix_anchor":"c","level":1,"prior_prefix":"b3"}},"ancestry":[{"id":14834,"edition_id":1,"name":"Transition","identifier":"7","label":"part","depth":2,"order_by":1,"parent_id":13277,"metadata":{},"date_created":"2026-06-26 03:50:15","date_modified":"2026-06-26 03:50:15","permalink":{"id":284411,"object_type":"structure","relational_id":14834,"identifier":"7","token":"8.9A\/7","url":"\/8.9A\/7\/","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":64989,"structure_id":14834,"section_number":"8.9A-701","catch_line":"Effective date","url":"\/8.9A-701\/","token":"8.9A\/7\/8.9A-701","metadata":false},{"id":75345,"structure_id":14834,"section_number":"8.9A-702","catch_line":"Savings clause","url":"\/8.9A-702\/","token":"8.9A\/7\/8.9A-702","metadata":false},{"id":56712,"structure_id":14834,"section_number":"8.9A-703","catch_line":"Security interest perfected before effective date","url":"\/8.9A-703\/","token":"8.9A\/7\/8.9A-703","metadata":false},{"id":74614,"structure_id":14834,"section_number":"8.9A-704","catch_line":"Security interest unperfected before effective date","url":"\/8.9A-704\/","token":"8.9A\/7\/8.9A-704","metadata":false},{"id":70875,"structure_id":14834,"section_number":"8.9A-705","catch_line":"Effectiveness of action taken before effective date","url":"\/8.9A-705\/","token":"8.9A\/7\/8.9A-705","metadata":false},{"id":71951,"structure_id":14834,"section_number":"8.9A-706","catch_line":"When initial financing statement suffices to continue effectiveness of financing statement","url":"\/8.9A-706\/","token":"8.9A\/7\/8.9A-706","metadata":false},{"id":65306,"structure_id":14834,"section_number":"8.9A-707","catch_line":"Amendment of preeffective-date financing statement","url":"\/8.9A-707\/","token":"8.9A\/7\/8.9A-707","metadata":false},{"id":78521,"structure_id":14834,"section_number":"8.9A-708","catch_line":"Persons entitled to file initial financing statement or continuation statement","url":"\/8.9A-708\/","token":"8.9A\/7\/8.9A-708","metadata":false},{"id":67010,"structure_id":14834,"section_number":"8.9A-709","catch_line":"Priority","url":"\/8.9A-709\/","token":"8.9A\/7\/8.9A-709","metadata":false}],"previous_section":{"id":75345,"structure_id":14834,"section_number":"8.9A-702","catch_line":"Savings clause","url":"\/8.9A-702\/","token":"8.9A\/7\/8.9A-702","metadata":false},"next_section":{"id":74614,"structure_id":14834,"section_number":"8.9A-704","catch_line":"Security interest unperfected before effective date","url":"\/8.9A-704\/","token":"8.9A\/7\/8.9A-704","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.9A-703\/","history_text":"

This law was first created in 2000. The record of its establishment is cataloged in chapter 1007<\/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. It has been modified 1 time. 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. That modification is as follows: in 2001, chapters 289<\/a> and 296<\/a>.<\/p>","references":[{"id":75345,"section_number":"8.9A-702","catch_line":"Savings clause","order_by":null,"url":"\/8.9A-702\/"}],"refers_to":[{"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":70875,"section_number":"8.9A-705","catch_line":"Effectiveness of action taken before effective date","order_by":null,"url":"\/8.9A-705\/"}],"permalink":{"id":284421,"object_type":"law","relational_id":56712,"identifier":"8.9A-703","token":"8.9A\/7\/8.9A-703","url":"\/8.9A-703\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.9A-703\/","token":"8.9A\/7\/8.9A-703","dublin_core":{"Title":"Security interest perfected before effective date","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.9A-703","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> Continuing priority over lien<\/span> creditor<\/span>; perfection requirements satisfied. A security interest that is enforceable immediately before this title takes effect and would have priority over the rights of a person that becomes a lien<\/span> creditor<\/span> at that time is a perfected security interest under this title if, when this takes effect, the applicable requirements for enforceability and perfection under this title are satisfied without further action. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> Continuing priority over lien<\/span> creditor<\/span>; perfection requirements not satisfied. Except as otherwise provided in \u00a7 8.9A-705<\/a>, if, immediately before this title takes effect, a security interest is enforceable and would have priority over the rights of a person that becomes a lien<\/span> creditor<\/span> at that time, but the applicable requirements for enforceability or perfection under this title are not satisfied when this takes effect, the security interest: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> is a perfected security interest for one year after this takes effect; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> remains enforceable thereafter only if the security interest becomes enforceable under § 8.9A-203<\/a> before the year expires; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> remains perfected thereafter only if the applicable requirements for perfection under this title are satisfied before the year expires. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

c.<\/span> Notwithstanding subsections (a) and (b) of this section, a lien<\/span>, pledge or security interest granted by the Commonwealth or a governmental unit of the Commonwealth prior to July 1, 2001, which is enforceable immediately before July 1, 2001, and would have priority over the rights of a person that becomes a lien<\/span> creditor<\/span> at that time, shall remain enforceable and continue to have such priority on or after July 1, 2001. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSECURITY INTEREST PERFECTED BEFORE EFFECTIVE DATE (\u00a7 8.9A-703)\n\na. Continuing priority over lien creditor; perfection requirements satisfied. A\nsecurity interest that is enforceable immediately before this title takes effect\nand would have priority over the rights of a person that becomes a lien creditor\nat that time is a perfected security interest under this title if, when this\ntakes effect, the applicable requirements for enforceability and perfection\nunder this title are satisfied without further action.\n\nb. Continuing priority over lien creditor; perfection requirements not\nsatisfied. Except as otherwise provided in \u00a7 8.9A-705, if, immediately before\nthis title takes effect, a security interest is enforceable and would have\npriority over the rights of a person that becomes a lien creditor at that time,\nbut the applicable requirements for enforceability or perfection under this\ntitle are not satisfied when this takes effect, the security interest:\n\n 1. is a perfected security interest for one year after this takes effect;\n\n 2. remains enforceable thereafter only if the security interest becomes\n enforceable under § 8.9A-203 before the year expires; and\n\n 3. remains perfected thereafter only if the applicable requirements for\n perfection under this title are satisfied before the year expires.\n\nc. Notwithstanding subsections (a) and (b) of this section, a lien, pledge or\nsecurity interest granted by the Commonwealth or a governmental unit of the\nCommonwealth prior to July 1, 2001, which is enforceable immediately before July\n1, 2001, and would have priority over the rights of a person that becomes a lien\ncreditor at that time, shall remain enforceable and continue to have such\npriority on or after July 1, 2001.\n\nHISTORY: 2000, c. 1007; 2001, cc. 289, 296.","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}}