                                 CODE OF VIRGINIA

LOCATION OF DEBTOR (§ 8.9A-307)

(a)&#8221;Place of business.&#8221; In this section, &#8220;place of
business&#8221; means a place where a debtor conducts its affairs.

b. Debtor&#8217;s location; general rules. Except as otherwise provided in this
section, the following rules determine a debtor&#8217;s location:

   1. A debtor who is an individual is located at the individual&#8217;s
   principal residence.

   2. A debtor that is an organization and has only one place of business is
   located at its place of business.

   3. A debtor that is an organization and has more than one place of business is
   located at its chief executive office.

c. Limitation of applicability of subsection (b). Subsection (b) applies only if
a debtor&#8217;s residence, place of business, or chief executive office, as
applicable, is located in a jurisdiction whose law generally requires
information concerning the existence of a nonpossessory security interest to be
made generally available in a filing, recording, or registration system as a
condition or result of the security interest&#8217;s obtaining priority over the
rights of a lien creditor with respect to the collateral. If subsection (b) does
not apply, the debtor is located in the District of Columbia.

d. Continuation of location; cessation of existence, etc. A person that ceases
to exist, have a residence, or have a place of business continues to be located
in the jurisdiction specified by subsections (b) and (c).

e. Location of registered organization organized under state law. A registered
organization that is organized under the law of a state is located in that
state.

f. Location of registered organization organized under federal law; bank
branches and agencies. Except as otherwise provided in subsection (i), a
registered organization that is organized under the law of the United States and
a branch or agency of a bank that is not organized under the law of the United
States or a state are located:

   1. in the state that the law of the United States designates, if the law
   designates a state of location;

   2. in the state that the registered organization, branch, or agency
   designates, if the law of the United States authorizes the registered
   organization, branch, or agency to designate its state of location, including
   by designating its main office, home office, or other comparable office; or

   3. in the District of Columbia, if neither paragraph (1) nor paragraph (2)
   applies.

g. Continuation of location; change in status of registered organization. A
registered organization continues to be located in the jurisdiction specified by
subsection (e) or (f) notwithstanding:

   1. the suspension, revocation, forfeiture, or lapse of the registered
   organization&#8217;s status as such in its jurisdiction of organization; or

   2. the dissolution, winding up, or cancellation of the existence of the
   registered organization.

h. Location of United States. The United States is located in the District of
Columbia.

i. Location of foreign bank branch or agency if licensed in only one state. A
branch or agency of a bank that is not organized under the law of the United
States or a state is located in the state in which the branch or agency is
licensed, if all branches and agencies of the bank are licensed in only one
state.

j. Location of foreign air carrier. A foreign air carrier under the Federal
Aviation Act of 1958, as amended, is located at the designated office of the
agent upon which service of process may be made on behalf of the carrier.

k. Applies only to this part. This section applies only for purposes of this
part.

HISTORY: Code 1950, § 55-9; 1964, c. 219, § 8.9-103; 1973, c. 509; 1984, c.
613; 1996, c. 216; 1997, c. 343; 2000, c. 1007; 2012, c. 155.