Virginia § 8.9A-338 - Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information
Full text of Virginia Code of Virginia § 8.9A-338 — Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information, with citation guidance and answers to common questions.
§ 8.9A-338. Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information
If a security interest or agricultural lien is perfected by a filed financing statement providing information described in § 8.9A-516 (b) (5) which is incorrect at the time the financing statement is filed:
(1) the security interest or agricultural lien is subordinate to a conflicting perfected security interest in the collateral to the extent that the holder of the conflicting security interest gives value in reasonable reliance upon the incorrect information; and
(2) a purchaser, other than a secured party, of the collateral takes free of the security interest or agricultural lien to the extent that, in reasonable reliance upon the incorrect information, the purchaser gives value and, in the case of tangible chattel paper, tangible documents, goods, instruments, or a security certificate, receives delivery of the collateral.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 8.9A-338
What does Code of Virginia § 8.9A-338 cover?
Section 8.9A-338 ("Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information") 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-338?
A common citation format is "Code of Virginia § 8.9A-338" (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-338 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.