8.9A-505 - A-505. Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions. - Virginia Statutes

§ 8.9A-505. Filing and compliance with other statutes and treaties forconsignments, leases, other bailments, and other transactions.

(a) Use of terms other than "debtor" and "secured party." A consignor,lessor, or other bailor of goods, a licensor, or a buyer of a paymentintangible or promissory note may file a financing statement, or may complywith a statute or treaty described in § 8.9A-311 (a), using the terms"consignor," "consignee," "lessor," "lessee," "bailor," "bailee,""licensor," "licensee," "owner," "registered owner," "buyer,""seller," or words of similar import, instead of the terms "securedparty" and "debtor."

(b) Effect of financing statement under subsection (a). This part applies tothe filing of a financing statement under subsection (a) and, as appropriate,to compliance that is equivalent to filing a financing statement under §8.9A-311 (b), but the filing or compliance is not of itself a factor indetermining whether the collateral secures an obligation. If it is determinedfor another reason that the collateral secures an obligation, a securityinterest held by the consignor, lessor, bailor, licensor, owner, or buyerwhich attaches to the collateral is perfected by the filing or compliance.

(1973, c. 509, § 8.9-408; 2000, c. 1007.)