                                 CODE OF VIRGINIA

ASSIGNMENT OF POWERS OF SECURED PARTY OF RECORD (§ 8.9A-514)

a. Assignment reflected on initial financing statement. Except as otherwise
provided in subsection (c), an initial financing statement may reflect an
assignment of all of the secured party&#8217;s power to authorize an amendment
to the financing statement by providing the name and mailing address of the
assignee as the name and address of the secured party.

b. Assignment of filed financing statement. Except as otherwise provided in
subsection (c), a secured party of record may assign of record all or part of
its power to authorize an amendment to a financing statement by filing in the
filing office an amendment of the financing statement which:

   1. identifies, by its file number, the initial financing statement to which it
   relates;

   2. provides the name of the assignor; and

   3. provides the name and mailing address of the assignee.

c. Assignment of record of mortgage. An assignment of record of a security
interest in a fixture covered by a record of a mortgage which is effective as a
financing statement filed as a fixture filing under &#xA7; 8.9A-502 (c) may be
made only by an assignment of record of the mortgage in the manner provided by
law of the Commonwealth other than the Uniform Commercial Code.

HISTORY: Code 1950, §§ 43-55, 43-65; 1964, c. 219, § 8.9-405; 1973, c. 509;
1975, c. 225; 1977, c. 539; 1978, c. 284; 1982, c. 652; 1984, c. 771; 1988, c.
804; 1990, c. 412; 1992, c. 784; 2000, c. 1007.