# Va. Code Ann. § 59.1-505.9: Financing arrangements; obligations irrevocable

> Virginia · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_VA_T59.1_C43_A5_S59.1-505.9

## Section

- **Citation:** Va. Code Ann. § 59.1-505.9
- **Heading:** Financing arrangements; obligations irrevocable
- **Jurisdiction:** Virginia
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Virginia Code / Title 59.1 / Chapter 43 / Article 5 / Section 59.1-505.9

## Text

Unless the accommodated licensee is a consumer, a term in a financial accommodation contract providing that the accommodated licensee's obligations to the financier are irrevocable and independent is enforceable. The obligations become irrevocable and independent upon the licensee's acceptance of the license or the financier's giving of value, whichever occurs first.

2000, cc. 101 , 996 .

## Nearby sections

- [Va. Code Ann. § 59.1-505.1 Ownership of informational rights](https://www.frixlaw.com/law-library/statutes/STATE_VA_T59.1_C43_A5_S59.1-505.1.md)
- [Va. Code Ann. § 59.1-505.2 Title to copy](https://www.frixlaw.com/law-library/statutes/STATE_VA_T59.1_C43_A5_S59.1-505.2.md)
- [Va. Code Ann. § 59.1-505.3 Transfer of contractual interest](https://www.frixlaw.com/law-library/statutes/STATE_VA_T59.1_C43_A5_S59.1-505.3.md)
- [Va. Code Ann. § 59.1-505.4 Effect of transfer of contractual interest](https://www.frixlaw.com/law-library/statutes/STATE_VA_T59.1_C43_A5_S59.1-505.4.md)
- [Va. Code Ann. § 59.1-505.5 Performance by delegate; subcontract](https://www.frixlaw.com/law-library/statutes/STATE_VA_T59.1_C43_A5_S59.1-505.5.md)
- [Va. Code Ann. § 59.1-505.6 Transfer by licensee](https://www.frixlaw.com/law-library/statutes/STATE_VA_T59.1_C43_A5_S59.1-505.6.md)
- [Va. Code Ann. § 59.1-505.7 Financing if financier does not become licensee](https://www.frixlaw.com/law-library/statutes/STATE_VA_T59.1_C43_A5_S59.1-505.7.md)
- [Va. Code Ann. § 59.1-505.8 Finance licenses](https://www.frixlaw.com/law-library/statutes/STATE_VA_T59.1_C43_A5_S59.1-505.8.md)
- [Va. Code Ann. § 59.1-505.9 Financing arrangements; obligations irrevocable](https://www.frixlaw.com/law-library/statutes/STATE_VA_T59.1_C43_A5_S59.1-505.9.md)
- [Va. Code Ann. § 59.1-505.10 Financing arrangements; remedies or enforcement](https://www.frixlaw.com/law-library/statutes/STATE_VA_T59.1_C43_A5_S59.1-505.10.md)
- [Va. Code Ann. § 59.1-505.11 Financing arrangements; effect on licensor's rights](https://www.frixlaw.com/law-library/statutes/STATE_VA_T59.1_C43_A5_S59.1-505.11.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_VA_T59.1_C43_A5_S59.1-505.9. Check the current official text before relying on it. Not legal advice.