                                 CODE OF VIRGINIA

REQUEST FOR ACCOUNTING; REQUEST REGARDING LIST OF COLLATERAL OR STATEMENT OF
ACCOUNT (§ 8.9A-210)

a. Definitions. In this section:

   1. &#8220;Request&#8221; means a record of a type described in paragraph (2),
   (3), or (4).

   2. &#8220;Request for an accounting&#8221; means a record signed by a debtor
   requesting that the recipient provide an accounting of the unpaid obligations
   secured by collateral and reasonably identifying the transaction or
   relationship that is the subject of the request.

   3. &#8220;Request regarding a list of collateral&#8221; means a record signed
   by a debtor requesting that the recipient approve or correct a list of what
   the debtor believes to be the collateral securing an obligation and reasonably
   identifying the transaction or relationship that is the subject of the
   request.

   4. &#8220;Request regarding a statement of account&#8221; means a record
   signed by a debtor requesting that the recipient approve or correct a
   statement indicating what the debtor believes to be the aggregate amount of
   unpaid obligations secured by collateral as of a specified date and reasonably
   identifying the transaction or relationship that is the subject of the
   request.

b. Duty to respond to requests. Subject to subsections (c), (d), (e), and (f), a
secured party, other than a buyer of accounts, chattel paper, payment
intangibles, or promissory notes or a consignor, shall comply with a request
within fourteen days after receipt:

   1. in the case of a request for an accounting, by signing and sending to the
   debtor an accounting; and

   2. in the case of a request regarding a list of collateral or a request
   regarding a statement of account, by signing and sending to the debtor an
   approval or correction.

c. Request regarding list of collateral; statement concerning type of
collateral. A secured party that claims a security interest in all of a
particular type of collateral owned by the debtor may comply with a request
regarding a list of collateral by sending to the debtor a signed record
including a statement to that effect within fourteen days after receipt.

d. Request regarding list of collateral; no interest claimed. A person that
receives a request regarding a list of collateral, claims no interest in the
collateral when it receives the request, and claimed an interest in the
collateral at an earlier time shall comply with the request within fourteen days
after receipt by sending to the debtor a signed record:

   1. disclaiming any interest in the collateral; and

   2. if known to the recipient, providing the name and mailing address of any
   assignee of or successor to the recipient&#8217;s interest in the collateral.

e. Request for accounting or regarding statement of account; no interest in
obligation claimed. A person that receives a request for an accounting or a
request regarding a statement of account, claims no interest in the obligations
when it receives the request, and claimed an interest in the obligations at an
earlier time shall comply with the request within fourteen days after receipt by
sending to the debtor a signed record:

   1. disclaiming any interest in the obligations; and

   2. if known to the recipient, providing the name and mailing address of any
   assignee of or successor to the recipient&#8217;s interest in the obligations.

f. Charges for responses. A debtor is entitled without charge to one response to
a request under this section during any six-month period. The secured party may
require payment of a charge not exceeding twenty-five dollars for each
additional response.

HISTORY: 1964, c. 219, § 8.9-208; 2000, c. 1007; 2024, c. 652.