                                 CODE OF VIRGINIA

FILING AND COMPLIANCE WITH OTHER STATUTES AND TREATIES FOR CONSIGNMENTS, LEASES,
OTHER BAILMENTS, AND OTHER TRANSACTIONS (§ 8.9A-505)

a. Use of terms other than &#8220;debtor&#8221; and &#8220;secured party.&#8221;
A consignor, lessor, or other bailor of goods, a licensor, or a buyer of a
payment intangible or promissory note may file a financing statement, or may
comply with a statute or treaty described in &#xA7; 8.9A-311 (a), using the
terms &#8220;consignor,&#8221; &#8220;consignee,&#8221; &#8220;lessor,&#8221;
&#8220;lessee,&#8221; &#8220;bailor,&#8221; &#8220;bailee,&#8221;
&#8220;licensor,&#8221; &#8220;licensee,&#8221; &#8220;owner,&#8221;
&#8220;registered owner,&#8221; &#8220;buyer,&#8221; &#8220;seller,&#8221; or
words of similar import, instead of the terms &#8220;secured party&#8221; and
&#8220;debtor.&#8221;

b. Effect of financing statement under subsection (a). This part applies to the
filing of a financing statement under subsection (a) and, as appropriate, to
compliance that is equivalent to filing a financing statement under &#xA7;
8.9A-311 (b), but the filing or compliance is not of itself a factor in
determining whether the collateral secures an obligation. If it is determined
for another reason that the collateral secures an obligation, a security
interest held by the consignor, lessor, bailor, licensor, owner, or buyer which
attaches to the collateral is perfected by the filing or compliance.

HISTORY: 1973, c. 509, § 8.9-408; 2000, c. 1007.