Virginia § 8.9A-306.2 Law governing perfection and priority of security interests in controllable accounts, controllable electronic records, and controllable payment intangibles

Virginia Statutes

§ 8.9A-306.2 — Law governing perfection and priority of security interests in controllable accounts, controllable electronic records, and controllable payment intangibles

Virginia § 8.9A-306.2

Title 8.9ACommercial Code — Secured Transactions

Part 3Perfection and Priority

Subpart 1Law Governing Perfection and Priority

This text of Virginia § 8.9A-306.2 (Law governing perfection and priority of security interests in controllable accounts, controllable electronic records, and controllable payment intangibles) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 8.9A-306.2 (2026).

Text

(a)Governing law: general rules. Except as provided in subsection (b), the local law of the controllable electronic record's jurisdiction specified in § 8.12-107(c) and (d) governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a controllable electronic record and a security interest in a controllable account or controllable payment intangible evidenced by the controllable electronic record.

(b)When perfection governed by law of jurisdiction where debtor located. The local law of the jurisdiction in which the debtor is located governs:

(1)perfection of a security interest in a controllable account, controllable electronic record, or controllable payment intangible by filing; and

(2)automatic perfection of a security interest in a co

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(a) Governing law: general rules. Except as provided in subsection (b), the local law of the controllable electronic record's jurisdiction specified in § 8.12-107(c) and (d) governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a controllable electronic record and a security interest in a controllable account or controllable payment intangible evidenced by the controllable electronic record.

(b) When perfection governed by law of jurisdiction where debtor located. The local law of the jurisdiction in which the debtor is located governs:

(1) perfection of a security interest in a controllable account, controllable electronic record, or controllable payment intangible by filing; and

(2) automatic perfection of a security interest in a controllable payment intangible created by a sale of the controllable payment intangible.