CODE OF VIRGINIA

SECURITY INTEREST PERFECTED UPON ATTACHMENT (§ 8.9A-309)

The following security interests are perfected when they attach:

1. a purchase-money security interest in consumer goods, except as otherwise
provided in § 8.9A-311 (b) with respect to consumer goods that are subject
to a statute or treaty described in § 8.9A-311 (a);

2. an assignment of accounts or payment intangibles which does not by itself or
in conjunction with other assignments to the same assignee transfer a
significant part of the assignor’s outstanding accounts or payment
intangibles;

3. a sale of a payment intangible;

4. a sale of a promissory note;

5. a security interest created by the assignment of a health-care-insurance
receivable to the provider of the health-care goods or services;

6. a security interest arising under §§ 8.2-401, 8.2-505, 8.2-711 (3),
or § 8.2A-508 (5), until the debtor obtains possession of the collateral;

7. a security interest of a collecting bank arising under § 8.4-210;

8. a security interest of an issuer or nominated person arising under §
8.5A-118;

9. a security interest arising in the delivery of a financial asset under §
8.9A-206 (c);

10. a security interest in investment property created by a broker or securities
intermediary;

11. a security interest in a commodity contract or a commodity account created
by a commodity intermediary;

12. an assignment for the benefit of all creditors of the transferor and
subsequent transfers by the assignee thereunder; and

13. a security interest created by an assignment of a beneficial interest in a
decedent’s estate.

HISTORY: 1964, c. 219, § 8.9-302; 1966, c. 569; 1973, c. 509; 1983, cc. 204,
367; 1984, c. 613; 1996, c. 216, §§ 8.9-115, 8.9-116; 2000, c. 1007.