§ 8.9A-311. Perfection of security interests in property subject to certainstatutes, regulations, and treaties.
(a) Security interest subject to other law. Except as otherwise provided insubsection (d), the filing of a financing statement is not necessary oreffective to perfect a security interest in property subject to:
(1) a statute, regulation, or treaty of the United States whose requirementsfor a security interest's obtaining priority over the rights of a liencreditor with respect to the property preempt § 8.9A-310 (a);
(2) a certificate-of-title statute of this Commonwealth covering automobilesor other goods, which provides for a security interest to be indicated on thecertificate as a condition to or result of perfection of the securityinterest; or
(3) a certificate-of-title statute of another jurisdiction which provides fora security interest to be indicated on the certificate as a condition orresult of the security interest's obtaining priority over the rights of alien creditor with respect to the property.
(b) Compliance with other law. Compliance with the requirements of a statute,regulation, or treaty described in subsection (a) for obtaining priority overthe rights of a lien creditor is equivalent to the filing of a financingstatement under this title. Except as otherwise provided in subsection (d)and §§ 8.9A-313 and 8.9A-316 (d) and (e) for goods covered by a certificateof title, a security interest in property subject to a statute, regulation,or treaty described in subsection (a) may be perfected only by compliancewith those requirements, and a security interest so perfected remainsperfected notwithstanding a change in the use or transfer of possession ofthe collateral.
(c) Duration and renewal of perfection. Except as otherwise provided insubsection (d) and § 8.9A-316 (d) and (e), duration and renewal of perfectionof a security interest perfected by compliance with the requirementsprescribed by a statute, regulation, or treaty described in subsection (a)are governed by the statute, regulation, or treaty. In other respects, thesecurity interest is subject to this title.
(d) Inapplicability to certain inventory. During any period in whichcollateral subject to a statute specified in subsection (a) (2) is inventoryheld for sale or lease by a person or leased by that person as lessor andthat person is in the business of selling goods of that kind, this sectiondoes not apply to a security interest in that collateral created by thatperson.
(1964, c. 219, § 8.9-302; 1966, c. 569; 1973, c. 509; 1983, cc. 204, 367;1984, c. 613; 1996, c. 216; 2000, c. 1007.)
§ 8.9A-311. Perfection of security interests in property subject to certainstatutes, regulations, and treaties.
(a) Security interest subject to other law. Except as otherwise provided insubsection (d), the filing of a financing statement is not necessary oreffective to perfect a security interest in property subject to:
(1) a statute, regulation, or treaty of the United States whose requirementsfor a security interest's obtaining priority over the rights of a liencreditor with respect to the property preempt § 8.9A-310 (a);
(2) a certificate-of-title statute of this Commonwealth covering automobilesor other goods, which provides for a security interest to be indicated on thecertificate as a condition to or result of perfection of the securityinterest; or
(3) a certificate-of-title statute of another jurisdiction which provides fora security interest to be indicated on the certificate as a condition orresult of the security interest's obtaining priority over the rights of alien creditor with respect to the property.
(b) Compliance with other law. Compliance with the requirements of a statute,regulation, or treaty described in subsection (a) for obtaining priority overthe rights of a lien creditor is equivalent to the filing of a financingstatement under this title. Except as otherwise provided in subsection (d)and §§ 8.9A-313 and 8.9A-316 (d) and (e) for goods covered by a certificateof title, a security interest in property subject to a statute, regulation,or treaty described in subsection (a) may be perfected only by compliancewith those requirements, and a security interest so perfected remainsperfected notwithstanding a change in the use or transfer of possession ofthe collateral.
(c) Duration and renewal of perfection. Except as otherwise provided insubsection (d) and § 8.9A-316 (d) and (e), duration and renewal of perfectionof a security interest perfected by compliance with the requirementsprescribed by a statute, regulation, or treaty described in subsection (a)are governed by the statute, regulation, or treaty. In other respects, thesecurity interest is subject to this title.
(d) Inapplicability to certain inventory. During any period in whichcollateral subject to a statute specified in subsection (a) (2) is inventoryheld for sale or lease by a person or leased by that person as lessor andthat person is in the business of selling goods of that kind, this sectiondoes not apply to a security interest in that collateral created by thatperson.
(1964, c. 219, § 8.9-302; 1966, c. 569; 1973, c. 509; 1983, cc. 204, 367;1984, c. 613; 1996, c. 216; 2000, c. 1007.)
§ 8.9A-311. Perfection of security interests in property subject to certainstatutes, regulations, and treaties.
(a) Security interest subject to other law. Except as otherwise provided insubsection (d), the filing of a financing statement is not necessary oreffective to perfect a security interest in property subject to:
(1) a statute, regulation, or treaty of the United States whose requirementsfor a security interest's obtaining priority over the rights of a liencreditor with respect to the property preempt § 8.9A-310 (a);
(2) a certificate-of-title statute of this Commonwealth covering automobilesor other goods, which provides for a security interest to be indicated on thecertificate as a condition to or result of perfection of the securityinterest; or
(3) a certificate-of-title statute of another jurisdiction which provides fora security interest to be indicated on the certificate as a condition orresult of the security interest's obtaining priority over the rights of alien creditor with respect to the property.
(b) Compliance with other law. Compliance with the requirements of a statute,regulation, or treaty described in subsection (a) for obtaining priority overthe rights of a lien creditor is equivalent to the filing of a financingstatement under this title. Except as otherwise provided in subsection (d)and §§ 8.9A-313 and 8.9A-316 (d) and (e) for goods covered by a certificateof title, a security interest in property subject to a statute, regulation,or treaty described in subsection (a) may be perfected only by compliancewith those requirements, and a security interest so perfected remainsperfected notwithstanding a change in the use or transfer of possession ofthe collateral.
(c) Duration and renewal of perfection. Except as otherwise provided insubsection (d) and § 8.9A-316 (d) and (e), duration and renewal of perfectionof a security interest perfected by compliance with the requirementsprescribed by a statute, regulation, or treaty described in subsection (a)are governed by the statute, regulation, or treaty. In other respects, thesecurity interest is subject to this title.
(d) Inapplicability to certain inventory. During any period in whichcollateral subject to a statute specified in subsection (a) (2) is inventoryheld for sale or lease by a person or leased by that person as lessor andthat person is in the business of selling goods of that kind, this sectiondoes not apply to a security interest in that collateral created by thatperson.
(1964, c. 219, § 8.9-302; 1966, c. 569; 1973, c. 509; 1983, cc. 204, 367;1984, c. 613; 1996, c. 216; 2000, c. 1007.)
