Code of Virginia (Last Updated:July 28, 2020) |
TITLE 8.9A. Commercial Code - Secured Transactions |
PART 3. Perfection and Priority |
SECTION 8.9A-333. Priority of certain liens arising by operation of law |
(a) "Possessory lien." In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien: (1) which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business; (2) which is created by statute or rule of law in favor of the person; and (3) whose effectiveness depends on the person's possession of the goods. (b) Priority of possessory lien. A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise. 1964, c. 219, § 8.9-310; 2000, c. 1007 . |