CODE OF VIRGINIA

SECURITY INTEREST UNPERFECTED BEFORE EFFECTIVE DATE (§ 8.13-303)

A security interest that is enforceable immediately before the effective date of
this act but is unperfected at that time:

1. remains an enforceable security interest until the adjustment date;

2. remains enforceable thereafter if the security interest becomes enforceable
under § 8.9A-203, as amended by this act, on the effective date of this act
or before the adjustment date; and

3. becomes perfected:

   A. without further action, on the effective date of this act if the
   requirements for perfection under this act are satisfied before or at that
   time; or

   B. when the requirements for perfection are satisfied if the requirements are
   satisfied after that time.

HISTORY: 2024, c. 652.