                                 CODE OF VIRGINIA

SECURED PARTY OF RECORD (§ 8.9A-511)

a. Secured party of record. A secured party of record with respect to a
financing statement is a person whose name is provided as the name of the
secured party or a representative of the secured party in an initial financing
statement that has been filed. If an initial financing statement is filed under
&#xA7; 8.9A-514 (a), the assignee named in the initial financing statement is
the secured party of record with respect to the financing statement.

b. Amendment naming secured party of record. If an amendment of a financing
statement which provides the name of a person as a secured party or a
representative of a secured party is filed, the person named in the amendment is
a secured party of record. If an amendment is filed under &#xA7; 8.9A-514 (b),
the assignee named in the amendment is a secured party of record.

c. Amendment deleting secured party of record. A person remains a secured party
of record until the filing of an amendment of the financing statement which
deletes the person.

HISTORY: 2000, c. 1007.