{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/59.1-505.7.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/59.1-505.7.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/59.1-505.7.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/59.1-505.7.html"}],"law_id":373283,"edition_id":2,"section_id":373283,"structure_id":53124,"section_number":"59.1-505.7","catch_line":"Financing if financier does not become licensee","history":"2000, cc. 101, 996.","full_text":"If a financier does not become a licensee in connection with its financial accommodation contract, the following rules apply:\n\n1\n\nThe financier does not receive the benefits or burdens of the license.\n\n2\n\nThe licensee’s rights and obligations with respect to the information and informational rights are governed by:\n\nA\n\nthe license;\n\nB\n\nany rights of the licensor under other law; and\n\nC\n\nto the extent not inconsistent with subparagraphs (A) and (B), any financial accommodation contract between the financier and the licensee, which may add additional conditions to the licensee’s right to use the licensed information or informational rights.\n\n","order_by":null,"text":{"0":{"id":1392894,"text":"If a financier does not become a licensee in connection with its financial accommodation contract, the following rules apply:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":1392895,"text":"The financier does not receive the benefits or burdens of the license.","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":1392896,"text":"The licensee’s rights and obligations with respect to the information and informational rights are governed by:","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"2A"},"3":{"id":1392897,"text":"the license;","type":"section","prefixes":["2","A"],"prefix":"A","entire_prefix":"2A","prefix_anchor":"2A","level":2,"prior_prefix":"2","next_prefix":"2B"},"4":{"id":1392898,"text":"any rights of the licensor under other law; and","type":"section","prefixes":["2","B"],"prefix":"B","entire_prefix":"2B","prefix_anchor":"2B","level":2,"prior_prefix":"2A","next_prefix":"2C"},"5":{"id":1392899,"text":"to the extent not inconsistent with subparagraphs (A) and (B), any financial accommodation contract between the financier and the licensee, which may add additional conditions to the licensee’s right to use the licensed information or informational rights.","type":"section","prefixes":["2","C"],"prefix":"C","entire_prefix":"2C","prefix_anchor":"2C","level":2,"prior_prefix":"2B"}},"ancestry":[{"id":53124,"edition_id":2,"name":"Transfer of Interests and Rights","identifier":"5","label":"article","depth":3,"order_by":5,"parent_id":53119,"metadata":{"child_laws":12,"child_structures":0},"date_created":"2026-08-02 03:11:15","date_modified":"2026-08-02 12:36:35","permalink":{"id":1489137,"object_type":"structure","relational_id":53124,"identifier":"5","token":"59.1\/43\/5","url":"\/59.1\/43\/5\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53119,"edition_id":2,"name":"Uniform Computer Information Transactions Act","identifier":"43","label":"chapter","depth":2,"order_by":80,"parent_id":53010,"metadata":{"child_laws":121,"child_structures":9},"date_created":"2026-08-02 03:11:05","date_modified":"2026-08-02 12:36:34","permalink":{"id":1488887,"object_type":"structure","relational_id":53119,"identifier":"43","token":"59.1\/43","url":"\/59.1\/43\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53010,"edition_id":2,"name":"Trade and Commerce","identifier":"59.1","label":"title","depth":1,"order_by":127,"parent_id":null,"metadata":{"child_laws":861,"child_structures":141},"date_created":"2026-08-02 03:09:52","date_modified":"2026-08-02 12:36:19","permalink":{"id":1486523,"object_type":"structure","relational_id":53010,"identifier":"59.1","token":"59.1","url":"\/59.1\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":373274,"structure_id":53124,"section_number":"59.1-505.1","catch_line":"Ownership of informational rights","url":"\/59.1-505.1\/","token":"59.1\/43\/5\/59.1-505.1","metadata":false},{"id":373275,"structure_id":53124,"section_number":"59.1-505.10","catch_line":"Financing arrangements; remedies or enforcement","url":"\/59.1-505.10\/","token":"59.1\/43\/5\/59.1-505.10","metadata":false},{"id":373276,"structure_id":53124,"section_number":"59.1-505.11","catch_line":"Financing arrangements; effect on licensor's rights","url":"\/59.1-505.11\/","token":"59.1\/43\/5\/59.1-505.11","metadata":false},{"id":373277,"structure_id":53124,"section_number":"59.1-505.12","catch_line":"Reserved","url":"\/59.1-505.12\/","token":"59.1\/43\/5\/59.1-505.12","metadata":false},{"id":373278,"structure_id":53124,"section_number":"59.1-505.2","catch_line":"Title to copy","url":"\/59.1-505.2\/","token":"59.1\/43\/5\/59.1-505.2","metadata":false},{"id":373279,"structure_id":53124,"section_number":"59.1-505.3","catch_line":"Transfer of contractual interest","url":"\/59.1-505.3\/","token":"59.1\/43\/5\/59.1-505.3","metadata":false},{"id":373280,"structure_id":53124,"section_number":"59.1-505.4","catch_line":"Effect of transfer of contractual interest","url":"\/59.1-505.4\/","token":"59.1\/43\/5\/59.1-505.4","metadata":false},{"id":373281,"structure_id":53124,"section_number":"59.1-505.5","catch_line":"Performance by delegate; subcontract","url":"\/59.1-505.5\/","token":"59.1\/43\/5\/59.1-505.5","metadata":false},{"id":373282,"structure_id":53124,"section_number":"59.1-505.6","catch_line":"Transfer by licensee","url":"\/59.1-505.6\/","token":"59.1\/43\/5\/59.1-505.6","metadata":false},{"id":373283,"structure_id":53124,"section_number":"59.1-505.7","catch_line":"Financing if financier does not become licensee","url":"\/59.1-505.7\/","token":"59.1\/43\/5\/59.1-505.7","metadata":false},{"id":373284,"structure_id":53124,"section_number":"59.1-505.8","catch_line":"Finance licenses","url":"\/59.1-505.8\/","token":"59.1\/43\/5\/59.1-505.8","metadata":false},{"id":373285,"structure_id":53124,"section_number":"59.1-505.9","catch_line":"Financing arrangements; obligations irrevocable","url":"\/59.1-505.9\/","token":"59.1\/43\/5\/59.1-505.9","metadata":false}],"previous_section":{"id":373282,"structure_id":53124,"section_number":"59.1-505.6","catch_line":"Transfer by licensee","url":"\/59.1-505.6\/","token":"59.1\/43\/5\/59.1-505.6","metadata":false},"next_section":{"id":373284,"structure_id":53124,"section_number":"59.1-505.8","catch_line":"Finance licenses","url":"\/59.1-505.8\/","token":"59.1\/43\/5\/59.1-505.8","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/59.1-505.7\/","history_text":"

This law was first created in 2000. The record of its establishment is cataloged in chapters 101<\/a> and 996<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":373222,"section_number":"59.1-501.15","catch_line":"Variation by agreement; commercial practice","order_by":null,"url":"\/59.1-501.15\/"}],"refers_to":false,"permalink":{"id":1489175,"object_type":"law","relational_id":373283,"identifier":"59.1-505.7","token":"59.1\/43\/5\/59.1-505.7","url":"\/59.1-505.7\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/59.1-505.7\/","token":"59.1\/43\/5\/59.1-505.7","dublin_core":{"Title":"Financing if financier does not become licensee","Type":"Text","Format":"text\/html","Identifier":"\u00a7 59.1-505.7","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

If a financier does not become a licensee in connection with its financial accommodation contract<\/span>, the following rules apply:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The financier does not receive the benefits or burdens of the license. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The licensee’s rights and obligations with respect to the information and informational rights are governed by: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> the license; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> any rights of the licensor under other law<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> to the extent not inconsistent with subparagraphs (A) and (B), any financial accommodation contract<\/span> between the financier and the licensee, which may add additional conditions to the licensee’s right to use the licensed information or informational rights. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nFINANCING IF FINANCIER DOES NOT BECOME LICENSEE (\u00a7 59.1-505.7)\n\nIf a financier does not become a licensee in connection with its financial\naccommodation contract, the following rules apply:\n\n1. The financier does not receive the benefits or burdens of the license.\n\n2. The licensee’s rights and obligations with respect to the information\nand informational rights are governed by:\n\n A. the license;\n\n B. any rights of the licensor under other law; and\n\n C. to the extent not inconsistent with subparagraphs (A) and (B), any\n financial accommodation contract between the financier and the licensee, which\n may add additional conditions to the licensee’s right to use the\n licensed information or informational rights.\n\nHISTORY: 2000, cc. 101, 996.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}