                                 CODE OF VIRGINIA

SUFFICIENCY OF DESCRIPTION (§ 8.9A-108)

a. Sufficiency of description. Except as otherwise provided in subsections (c),
(d), and (e), a description of personal or real property is sufficient, whether
or not it is specific, if it reasonably identifies what is described.

b. Examples of reasonable identification. Except as otherwise provided in
subsection (d), a description of collateral reasonably identifies the collateral
if it identifies the collateral by:

   1. specific listing;

   2. category;

   3. except as otherwise provided in subsection (e), a type of collateral
   defined in the Uniform Commercial Code;

   4. quantity;

   5. computational or allocational formula or procedure; or

   6. except as otherwise provided in subsection (c), any other method, if the
   identity of the collateral is objectively determinable.

c. Supergeneric description not sufficient. A description of collateral as
&#8220;all the debtor&#8217;s assets&#8221; or &#8220;all the debtor&#8217;s
personal property&#8221; or using words of similar import does not reasonably
identify the collateral.

d. Investment property. Except as otherwise provided in subsection (e), a
description of a security entitlement, securities account, or commodity account
is sufficient if it describes:

   1. the collateral by those terms or as investment property; or

   2. the underlying financial asset or commodity contract.

e. When description by type insufficient. A description only by type of
collateral defined in the Uniform Commercial Code is an insufficient description
of:

   1. a commercial tort claim; or

   2. in a consumer transaction, consumer goods, a security entitlement, a
   securities account, or a commodity account.

HISTORY: 1964, c. 219, § 8.9-110; 1996, c. 216, § 8.9-115; 2000, c. 1007.