6.2-2402 - (Effective October 1, 2010) Treatment of securitization transactions. - Virginia Statutes

§ 6.2-2402. (Effective October 1, 2010) Treatment of securitizationtransactions.

Nothing contained in this chapter shall:

1. Be deemed to require any securitization transaction to be treated as asale for federal or state tax purposes or to preclude the treatment of anysecuritization transaction as debt for federal or state tax purposes or tochange any applicable laws relating to the perfection and priority ofsecurity or ownership interests of persons other than the transferor,hypothetical lien creditor or, in the event of a bankruptcy, receivership orother insolvency proceeding with respect to the transferor or its property, abankruptcy trustee, receiver, debtor, debtor in possession, or similarperson; or

2. Change the tax treatment of securitization transactions that take placepursuant to this chapter.

(2004, c. 600, § 6.1-473; 2010, c. 794.)