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2012 Statute



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84-9-503.Name of debtor and secured party. [See Revisor's Note] (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) if the debtors are married debtors jointly engaged in business and it is unclear whether a partnership exists, the financing statement may be filed in the names of the individual debtors;

(5) 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) 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) [(a)(5)(B)], 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.

History: L. 2000, ch. 142, § 74; July 1, 2001.

Revisor's Note:

Former section 84-9-503 was repealed by L. 2000, ch. 142, § 155 and the number reassigned to the current text.

CAUTION: Section was amended effective July 1, 2013, see L. 2012, ch. 84, § 11.



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2019. Powered by KLISS. Rendered: 2019-03-25T22:10:50. Head Rev No: 345400