                                 CODE OF VIRGINIA

TREATMENT OF SECURITIZATION TRANSACTIONS (§ 6.2-2402)

Nothing contained in this chapter shall:

1. Be deemed to require any securitization transaction to be treated as a sale
for federal or state tax purposes or to preclude the treatment of any
securitization transaction as debt for federal or state tax purposes or to
change any applicable laws relating to the perfection and priority of security
or ownership interests of persons other than the transferor, hypothetical lien
creditor or, in the event of a bankruptcy, receivership or other insolvency
proceeding with respect to the transferor or its property, a bankruptcy trustee,
receiver, debtor, debtor in possession, or similar person; or

2. Change the tax treatment of securitization transactions that take place
pursuant to this chapter.

HISTORY: 2004, c. 600, § 6.1-473; 2010, c. 794.