§ 62A.9A-503. Name of debtor and secured party
(a) Sufficiency of debtor's name. A financing statement sufficiently provides the name of the debtor:
(1) If the debtor is a registered organization, only if the financing statement provides the name of the debtor indicated on the public record of the debtor's jurisdiction of organization which shows the debtor to have been organized;
(2) If the debtor is a decedent's estate, only if the financing statement provides the name of the decedent and indicates that the debtor is an estate;
(3) If the debtor is a trust or a trustee acting with respect to property held in trust, only if the financing statement:
(A) Provides the name specified for the trust in its organic documents or, if no name is specified, provides the name of the settlor and additional information sufficient to distinguish the debtor from other trusts having one or more of the same settlors; and
(B) Indicates, in the debtor's name or otherwise, that the debtor is a trust or is a trustee acting with respect to property held in trust; and
(4) In other cases:
(A) If the debtor has a name, only if it provides the individual or 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.
(b) Additional debtor-related information. 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 subsection (a)(4)(B) of this section, names of partners, members, associates, or other persons comprising the debtor.
(c) Debtor's trade name insufficient. A financing statement that provides only the debtor's trade name does not sufficiently provide the name of the debtor.
(d) Representative capacity. 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) Multiple debtors and secured parties. A financing statement may provide the name of more than one debtor and the name of more than one secured party.
[2000 c 250 § 9A-503.]
Sections: Previous 62A.9A-405 62A.9A-406 62A.9A-407 62A.9A-408 62A.9A-409 62A.9A-501 62A.9A-502 62A.9A-503 62A.9A-504 62A.9A-505 62A.9A-506 62A.9A-507 62A.9A-508 62A.9A-509 62A.9A-510 NextLast modified: April 7, 2009