8.11-105 - Transition provision on change of place of filing. - Virginia Statutes

§ 8.11-105. Transition provision on change of place of filing.

(1) A financing statement or continuation statement filed prior to July 1,1974, which shall not have lapsed prior to July 1, 1974, shall remaineffective for the period provided in Title 8.9 as amended through 1972, butnot less than five years after the filing.

(2) With respect to any collateral acquired by the debtor subsequent to June30, 1974, any effective financing statement or continuation statementdescribed in this section shall apply only if the filing or filings are inthe office or offices that would be appropriate to perfect the securityinterests in the new collateral under this act of 1973.

(3) The effectiveness of any financing statement or continuation statementfiled prior to July 1, 1974, may be continued by a continuation statement aspermitted by this act, except that if this act requires a filing in an officewhere there was no previous financing statement, a new financing statementconforming to § 8.11-106 shall be filed in that office.

(4) If the record of a mortgage of real estate would have been effective as afixture filing of goods described therein if this act had been in effect onthe date of recording the mortgage, the mortgage shall be deemed effective asa fixture filing as to such goods under subsection (6) of § 8.9-402 of thisact on the effective date of this act.

(1973, c. 509.)