                                 CODE OF VIRGINIA

CONTENTS OF FINANCING STATEMENT; RECORD OF MORTGAGE AS FINANCING STATEMENT; TIME
OF FILING FINANCING STATEMENT (§ 8.9A-502)

a. Sufficiency of financing statement. Subject to subsection (b), a financing
statement is sufficient only if it:

   1. provides the name of the debtor;

   2. provides the name of the secured party or a representative of the secured
   party; and

   3. indicates the collateral covered by the financing statement.

b. Real-property-related financing statements. Except as otherwise provided in
§ 8.9A-501 (b), to be sufficient, a financing statement that covers
as-extracted collateral or timber to be cut, or which is filed as a fixture
filing and covers goods that are or are to become fixtures, must satisfy
subsection (a) and also:

   1. indicate that it covers this type of collateral;

   2. indicate that it is to be filed for record in the real property records;

   3. provide a description of the real property to which the collateral is
   related sufficient to give constructive notice of a mortgage under the law of
   this state if the description were contained in a record of the mortgage of
   the real property; and

   4. if the debtor does not have an interest of record in the real property,
   provide the name of a record owner.

c. Record of mortgage as financing statement. A record of a mortgage is
effective, from the date of recording, as a financing statement filed as a
fixture filing or as a financing statement covering as-extracted collateral or
timber to be cut only if:

   1. the record indicates the goods or accounts that it covers;

   2. the goods are or are to become fixtures related to the real property
   described in the record or the collateral is related to the real property
   described in the record and is as-extracted collateral or timber to be cut;

   3. the record satisfies the requirements for a financing statement in this
   section, but:

A. the record need not indicate that it is to be filed in the real property
records; and

B. the record sufficiently provides the name of a debtor who is an individual if
it provides the individual name of the debtor or the surname and first personal
name of the debtor, even if the debtor is an individual to whom §
8.9A-503(a)(4) applies; and

   4. the record is duly recorded.

d. Filing before security agreement or attachment. A financing statement may be
filed before a security agreement is made or a security interest otherwise
attaches.

HISTORY: 1964, c. 219, § 8.9-402; 1966, c. 649; 1973, c. 509; 1976, c. 536;
1977, c. 539; 1978, cc. 284, 285; 1982, c. 652; 1999, c. 96; 2000, c. 1007;
2012, c. 155.