Virginia § 8.9A-706 - When initial financing statement suffices to continue effectiveness of financing statement
Full text of Virginia Code of Virginia § 8.9A-706 — When initial financing statement suffices to continue effectiveness of financing statement, with citation guidance and answers to common questions.
§ 8.9A-706. When initial financing statement suffices to continue effectiveness of financing statement
(a) Initial financing statement in lieu of continuation statement. The filing of an initial financing statement in the office specified in § 8.9A-501 continues the effectiveness of a financing statement filed before this title takes effect if:
(1) the filing of an initial financing statement in that office would be effective to perfect a security interest under this title;
(2) the preeffective-date financing statement was filed in an office in another state or another office in this Commonwealth; and
(3) the initial financing statement satisfies subsection (c).
(b) Period of continued effectiveness. The filing of an initial financing statement under subsection (a) continues the effectiveness of the preeffective-date financing statement:
(1) if the initial financing statement is filed before this title takes effect, for the period provided in former § 8.9-403 with respect to a financing statement; and
(2) if the initial financing statement is filed after this title takes effect, for the period provided in § 8.9A-515 with respect to an initial financing statement.
(c) Requirements for initial financing statement under subsection (a). To be effective for purposes of subsection (a), an initial financing statement must:
(1) satisfy the requirements of Part 5 (§ 8.9A-501 et seq.) of this title for an initial financing statement;
(2) identify the preeffective-date financing statement by indicating the office in which the financing statement was filed and providing the dates of filing and file numbers, if any, of the financing statement and of the most recent continuation statement filed with respect to the financing statement; and
(3) indicate that the preeffective-date financing statement remains effective.
2000, c. 1007.
Frequently Asked Questions About Virginia § 8.9A-706
What does Code of Virginia § 8.9A-706 cover?
Section 8.9A-706 ("When initial financing statement suffices to continue effectiveness of financing statement") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 8.9A-706?
A common citation format is "Code of Virginia § 8.9A-706" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 8.9A-706 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.