CODE OF VIRGINIA

GENERAL EFFECTIVENESS OF SECURITY AGREEMENT (§ 8.9A-201)

a. General effectiveness. Except as otherwise provided in the Uniform Commercial
Code, a security agreement is effective according to its terms between the
parties, against purchasers of the collateral, and against creditors.

b. Applicable consumer laws and other law. A transaction subject to this title
is subject to any applicable rule of law which establishes a different rule for
consumers.

c. Other applicable law controls. In case of conflict between this title and a
rule of law, statute, or regulation described in subsection (b), the rule of
law, statute, or regulation controls. Failure to comply with a statute or
regulation described in subsection (b) has only the effect the statute or
regulation specifies.

d. Further deference to other applicable law. This title does not:

   1. validate any rate, charge, agreement, or practice that violates a rule of
   law, statute, or regulation described in subsection (b); or

   2. extend the application of the rule of law, statute, or regulation to a
   transaction not otherwise subject to it.

HISTORY: Code 1950, §§ 6-551, 6-552; 1964, c. 219, §§ 8.9-201, 8.9-203;
1973, c. 509; 1984, c. 613; 1996, c. 216; 2000, c. 1007.