§ 9—503. Name of debtor and secured party
(a) A financing statement sufficiently provides the name of the debtor:
(1) except as otherwise provided in subdivision (3) of this subsection, if the debtor
is a registered organization or the collateral is held in a trust that is a registered
organization, only if the financing statement provides the name that is stated to
be the registered organization’s name on the public organic record most recently filed
with or issued or enacted by the registered organization’s jurisdiction of organization
which purports to state, amend, or restate the registered organization’s name;
(2) subject to subsection (f) of this section, if the collateral is being administered
by the personal representative of a decedent, only if the financing statement provides,
as the name of the debtor, the name of the decedent and, in a separate part of the
financing statement, indicates that the collateral is being administered by a personal
representative;
(3) if collateral is held in a trust that is not a registered organization, only if the
financing statement:
(A) provides, as the name of the debtor:
(i) if the organic record of the trust specifies a name for the trust, the name specified;
or
(ii) if the organic record of the trust does not specify a name for the trust, the name
of the settlor or testator; and
(B) in a separate part of the financing statement:
(i) if the name is provided in accordance with subdivision (3)(A)(i) of this subsection,
indicates that the collateral is held in a trust; or
(ii) if the name is provided in accordance with subdivision (3)(A)(ii) of this subsection,
provides additional information sufficient to distinguish the trust from other trusts
having one or more of the same settlors or the same testator and indicates that the
collateral is held in a trust, unless the additional information so indicates;
(4) subject to subsection (g) of this section, if the debtor is an individual to whom
this state has issued a driver’s license that has not expired, only if the financing
statement provides the name of the individual which is indicated on the driver’s license;
(5) if the debtor is an individual to whom subdivision (4) of this subsection does not
apply, only if the financing statement provides the individual name of the debtor
or the surname and first personal name of the debtor; and
(6) in other cases:
(A) if the debtor has a name, only if the financing statement provides the organizational
name of the debtor; and
(B) if the debtor does not have a name, only if it provides the names of the partners,
members, associates, or other persons comprising the debtor, in a manner that each
name provided would be sufficient if the person named were the debtor.
(b) A financing statement that provides the name of the debtor in accordance with subsection
(a) of this section is not rendered ineffective by the absence of:
(1) a trade name or other name of the debtor; or
(2) unless required under subdivision (a)(6)(B) of this section, names of partners, members,
associates, or other persons comprising the debtor.
(c) A financing statement that provides only the debtor’s trade name does not sufficiently
provide the name of the debtor.
(d) Failure to indicate the representative capacity of a secured party or representative
of a secured party does not affect the sufficiency of a financing statement.
(e) A financing statement may provide the name of more than one debtor and the name of
more than one secured party.
(f) The name of the decedent indicated on the order appointing the personal representative
of the decedent issued by the court having jurisdiction over the collateral is sufficient
as the “name of the decedent” under subdivision (a)(2) of this section.
(g) If this state has issued to an individual more than one driver’s license of a kind
described in subdivision (a)(4) of this section, the one that was issued most recently
is the one to which subdivision (a)(4) of this section refers.
(h) In this section, the “name of the settlor or testator” means:
(1) if the settlor is a registered organization, the name that is stated to be the settlor’s
name on the public organic record most recently filed with or issued or enacted by
the settlor’s jurisdiction of organization which purports to state, amend, or restate
the settlor’s name; or
(2) in other cases, the name of the settlor or testator indicated in the trust’s organic
record. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001; amended 2013, No. 157 (Adj. Sess.), § 1.)