If, while a security interest in goods is perfected by any method under the law of another jurisdiction, this Commonwealth issues a certificate of title that does not show that the goods are subject to the security interest or contain a statement that they may be subject to security interests not shown on the certificate:
(1) a buyer of the goods, other than a person in the business of selling goods of that kind, takes free of the security interest if the buyer gives value and receives delivery of the goods after issuance of the certificate and without knowledge of the security interest; and
(2) the security interest is subordinate to a conflicting security interest in the goods that attaches, and is perfected under § 8.9A-311 (b), after issuance of the certificate and without the conflicting secured party's knowledge of the security interest.
2000, c. 1007.
Structure Code of Virginia
Title 8.9A - Commercial Code - Secured Transactions
§ 8.9A-317. Interests that take priority over or take free of security interest or agricultural lien
§ 8.9A-319. Rights and title of consignee with respect to creditors and purchasers
§ 8.9A-321. Licensee of general intangible and lessee of goods in ordinary course of business
§ 8.9A-324. Priority of purchase-money security interests
§ 8.9A-325. Priority of security interests in transferred collateral
§ 8.9A-326. Priority of security interests created by new debtor
§ 8.9A-327. Priority of security interests in deposit account
§ 8.9A-328. Priority of security interests in investment property
§ 8.9A-329. Priority of security interests in letter-of-credit right
§ 8.9A-330. Priority of purchaser of chattel paper or instrument
§ 8.9A-332. Transfer of money, transfer of funds from deposit account
§ 8.9A-333. Priority of certain liens arising by operation of law
§ 8.9A-334. Priority of security interests in fixtures and crops
§ 8.9A-337. Priority of security interests in goods covered by certificate of title