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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>59675</law_id><section_number>8.9A-514</section_number><catch_line>Assignment of powers of secured party of record</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>17.1-275</reference><reference>8.9A-511</reference><reference>8.9A-516</reference><reference>8.9A-519</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="8.9A">Commercial Code &#x2014; Secured Transactions</unit><unit label="part" level="2" order_by="1" identifier="5">Filing</unit><unit label="subpart" level="3" order_by="1" identifier="1">Filing Office, Contents and Effectiveness of Financing Statement</unit></structure><text>
						<section id="a"><p><span class="prefix-number">a.</span> Assignment reflected on initial financing statement. Except as otherwise provided in subsection (c), an initial financing statement may reflect an assignment of all of the secured <span class="dictionary">party</span>&#x2019;s power to authorize an amendment to the financing statement by providing the name and mailing address of the assignee as the name and address of the secured <span class="dictionary">party</span>. <a id="paragraph-218546" class="section-permalink" href="https://vacode.org/8.9A-514/#a"><i class="fa fa-link"/></a></p></section>
						<section id="b"><p><span class="prefix-number">b.</span> Assignment of filed financing statement. Except as otherwise provided in subsection (c), a secured <span class="dictionary">party</span> of record may assign of record all or part of its power to authorize an amendment to a financing statement by filing in the filing office an amendment of the financing statement which: <a id="paragraph-218547" class="section-permalink" href="https://vacode.org/8.9A-514/#b"><i class="fa fa-link"/></a></p></section>
						<section id="b1" class="indent-1"><p><span class="prefix-number">1.</span> identifies, by its file number, the initial financing statement to which it relates; <a id="paragraph-218548" class="section-permalink" href="https://vacode.org/8.9A-514/#b1"><i class="fa fa-link"/></a></p></section>
						<section id="b2" class="indent-1"><p><span class="prefix-number">2.</span> provides the name of the assignor; and <a id="paragraph-218549" class="section-permalink" href="https://vacode.org/8.9A-514/#b2"><i class="fa fa-link"/></a></p></section>
						<section id="b3" class="indent-1"><p><span class="prefix-number">3.</span> provides the name and mailing address of the assignee. <a id="paragraph-218550" class="section-permalink" href="https://vacode.org/8.9A-514/#b3"><i class="fa fa-link"/></a></p></section>
						<section id="c"><p><span class="prefix-number">c.</span> Assignment of record of mortgage. An assignment of record of a security interest in a fixture covered by a record of a mortgage which is effective as a financing statement filed as a fixture filing under &#xA7; <a class="law" title="Contents of financing statement; record of mortgage as financing statement; time of filing financing statement" href="/8.9A-502/">8.9A-502</a> (c) may be made only by an assignment of record of the mortgage in the manner provided by <span class="dictionary">law</span> of the Commonwealth other than the Uniform Commercial Code. <a id="paragraph-218551" class="section-permalink" href="https://vacode.org/8.9A-514/#c"><i class="fa fa-link"/></a></p></section></text><history>Code 1950, &#xA7;&#xA7; 43-55, 43-65; 1964, c. 219, &#xA7; 8.9-405; 1973, c. 509; 1975, c. 225; 1977, c. 539; 1978, c. 284; 1982, c. 652; 1984, c. 771; 1988, c. 804; 1990, c. 412; 1992, c. 784; 2000, c. 1007.</history><metadata></metadata></law>
