(a) Sufficiency of description. Except as otherwise provided in subsections(c), (d), and (e), a description of personal or real property is sufficient,whether or not it is specific, if it reasonably identifies what is described.
(b) Examples of reasonable identification. Except as otherwise provided insubsection (d), a description of collateral reasonably identifies thecollateral if it identifies the collateral by:
(1) specific listing;
(2) category;
(3) except as otherwise provided in subsection (e), a type of collateraldefined in the Uniform Commercial Code;
(4) quantity;
(5) computational or allocational formula or procedure; or
(6) except as otherwise provided in subsection (c), any other method, if theidentity of the collateral is objectively determinable.
(c) Supergeneric description not sufficient. A description of collateral as"all the debtor's assets" or "all the debtor's personal property" orusing words of similar import does not reasonably identify the collateral.
(d) Investment property. Except as otherwise provided in subsection (e), adescription of a security entitlement, securities account, or commodityaccount is sufficient if it describes:
(1) the collateral by those terms or as investment property; or
(2) the underlying financial asset or commodity contract.
(e) When description by type insufficient. A description only by type ofcollateral defined in the Uniform Commercial Code is an insufficientdescription of:
(1) a commercial tort claim; or
(2) in a consumer transaction, consumer goods, a security entitlement, asecurities account, or a commodity account.
(1964, c. 219, § 8.9-110; 1996, c. 216, § 8.9-115; 2000, c. 1007.)
(a) Sufficiency of description. Except as otherwise provided in subsections(c), (d), and (e), a description of personal or real property is sufficient,whether or not it is specific, if it reasonably identifies what is described.
(b) Examples of reasonable identification. Except as otherwise provided insubsection (d), a description of collateral reasonably identifies thecollateral if it identifies the collateral by:
(1) specific listing;
(2) category;
(3) except as otherwise provided in subsection (e), a type of collateraldefined in the Uniform Commercial Code;
(4) quantity;
(5) computational or allocational formula or procedure; or
(6) except as otherwise provided in subsection (c), any other method, if theidentity of the collateral is objectively determinable.
(c) Supergeneric description not sufficient. A description of collateral as"all the debtor's assets" or "all the debtor's personal property" orusing words of similar import does not reasonably identify the collateral.
(d) Investment property. Except as otherwise provided in subsection (e), adescription of a security entitlement, securities account, or commodityaccount is sufficient if it describes:
(1) the collateral by those terms or as investment property; or
(2) the underlying financial asset or commodity contract.
(e) When description by type insufficient. A description only by type ofcollateral defined in the Uniform Commercial Code is an insufficientdescription of:
(1) a commercial tort claim; or
(2) in a consumer transaction, consumer goods, a security entitlement, asecurities account, or a commodity account.
(1964, c. 219, § 8.9-110; 1996, c. 216, § 8.9-115; 2000, c. 1007.)
(a) Sufficiency of description. Except as otherwise provided in subsections(c), (d), and (e), a description of personal or real property is sufficient,whether or not it is specific, if it reasonably identifies what is described.
(b) Examples of reasonable identification. Except as otherwise provided insubsection (d), a description of collateral reasonably identifies thecollateral if it identifies the collateral by:
(1) specific listing;
(2) category;
(3) except as otherwise provided in subsection (e), a type of collateraldefined in the Uniform Commercial Code;
(4) quantity;
(5) computational or allocational formula or procedure; or
(6) except as otherwise provided in subsection (c), any other method, if theidentity of the collateral is objectively determinable.
(c) Supergeneric description not sufficient. A description of collateral as"all the debtor's assets" or "all the debtor's personal property" orusing words of similar import does not reasonably identify the collateral.
(d) Investment property. Except as otherwise provided in subsection (e), adescription of a security entitlement, securities account, or commodityaccount is sufficient if it describes:
(1) the collateral by those terms or as investment property; or
(2) the underlying financial asset or commodity contract.
(e) When description by type insufficient. A description only by type ofcollateral defined in the Uniform Commercial Code is an insufficientdescription of:
(1) a commercial tort claim; or
(2) in a consumer transaction, consumer goods, a security entitlement, asecurities account, or a commodity account.
(1964, c. 219, § 8.9-110; 1996, c. 216, § 8.9-115; 2000, c. 1007.)
