Find Laws Find Lawyers Free Legal Forms USA State Laws

VIRGINIA STATUTES AND CODES

8.9A-338 - A-338. Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information.

§ 8.9A-338. Priority of security interest or agricultural lien perfected byfiled financing statement providing certain incorrect information.

If a security interest or agricultural lien is perfected by a filed financingstatement providing information described in § 8.9A-516 (b) (5) which isincorrect at the time the financing statement is filed:

(1) the security interest or agricultural lien is subordinate to aconflicting perfected security interest in the collateral to the extent thatthe holder of the conflicting security interest gives value in reasonablereliance upon the incorrect information; and

(2) a purchaser, other than a secured party, of the collateral takes free ofthe security interest or agricultural lien to the extent that, in reasonablereliance upon the incorrect information, the purchaser gives value and, inthe case of tangible chattel paper, tangible documents, goods, instruments,or a security certificate, receives delivery of the collateral.

(2000, c. 1007; 2004, c. 200.)

Virginia Forms by Issue

Virginia Business Forms

Virginia Law

Virginia State Laws
    > Virginia Child Support
    > Virginia Gun Laws
    > Virginia Statutes
Virginia Court
    > Virginia Courts Case Information
Virginia Labor Laws
    > Jobs in Virginia
    > Library of Virginia
    > Virginia Governor
Virginia Tax
    > Virginia State Tax
Virginia Agencies
    > Better Business Bureau Virginia
    > DMV Virginia
    > Virginia Department of Corrections
    > Virginia Department of Health
    > Virginia Department of Social Services
    > Virginia Department of Taxation
    > Virginia Department of Transportation
    > Virginia Employment Commission
    > Virginia Retirement System

Virginia Court Map

Tips