Section 34.1-9-706 – When Initial Financing Statement Suffices to Continue Effectiveness of Financing Statement.
34.1-9-706. When initial financing statement suffices to continue effectiveness of financing statement. (a) The filing of an initial financing statement in the office specified in section 34.1-9-501 continues the effectiveness of a financing statement filed before this act takes effect if: (i) The filing of an initial financing statement in that office would be effective […]
Section 34.1-9-707 – Amendment of Preeffective Date Financing Statement.
34.1-9-707. Amendment of preeffective date financing statement. (a) In this section, “pre-effective-date financing statement” means a financing statement filed before this act takes effect. (b) After this act takes effect, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a preeffective date […]
Section 34.1-9-708 – Persons Entitled to File Initial Financing Statement or Continuation Statement.
34.1-9-708. Persons entitled to file initial financing statement or continuation statement. (a) A person may file an initial financing statement or a continuation statement under this part if: (i) The secured party of record authorizes the filing; and (ii) The filing is necessary under this part: (A) To continue the effectiveness of a financing statement […]
Section 34.1-9-709 – Priority.
34.1-9-709. Priority. (a) This act determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before this act takes effect, former article 9 determines priority. (b) For purposes of section 34.1-9-322(a), the priority of a security interest that becomes enforceable under section 34.1-9-203 of this act dates […]
Section 34.1-9-705 – Effectiveness of Action Taken Before Effective Date.
34.1-9-705. Effectiveness of action taken before effective date. (a) If action, other than the filing of a financing statement, is taken before this act takes effect and the action would have resulted in priority of a security interest over the rights of a person that becomes a lien creditor had the security interest become enforceable […]
Section 34.1-9-701 – Effective Date.
34.1-9-701. Effective date. This act takes effect on July 1, 2001. References in this part to “this Act” refer to the legislative enactment by which this part is added to article 9 of title 34. References in this part to “former article 9” are to article of title 34 as in effect immediately before this […]
Section 34.1-9-702 – Savings Clause.
34.1-9-702. Savings clause. (a) Except as otherwise provided in this part, this act applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before this act takes effect. (b) Except as otherwise provided in subsection (c) and sections 34.1-9-703 through 34.1-9-709: (i) Transactions and liens […]
Section 34.1-9-703 – Security Interest Perfected Before Effective Date.
34.1-9-703. Security interest perfected before effective date. (a) A security interest that is enforceable immediately before this act takes effect and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest under this act if, when this act takes effect, the applicable requirements […]
Section 34.1-9-704 – Security Interest Unperfected Before Effective Date.
34.1-9-704. Security interest unperfected before effective date. (a) A security interest that is enforceable immediately before this act takes effect but which would be subordinate to the rights of a person that becomes a lien creditor at that time: (i) Remains an enforceable security interest for one (1) year after this act takes effect; (ii) […]