§ 26-1-9.1-503 — Name of debtor and secured party

Indiana § 26-1-9.1-503

• Jurisdiction: Indiana
• Title 26: COMMERCIAL LAW
• Art. 1: UNIFORM COMMERCIAL CODE
• Ch. 9.1: Secured Transactions

Text

(a) A financing statement sufficiently
provides the name of the debtor:
(1) except as otherwise provided in subdivision (3), 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), 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 the 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 clause (A)(i),
indicates that the collateral is held in a trust; or
(ii) if the name is provided in accordance with clause (A)(ii),
provides additional information sufficient to distinguish the
trust from other trusts having one (1) or more of the same
settlors of the same testator and indicates that the collateral
is held in a trust, unless the additional information so
indicates;
(4) subject to subsection (g), if the debtor is an individual to
whom this state has issued a driver's license, an identification card
for nondrivers under IC 9-24-16, or a photo exempt identification
card for nondrivers under IC 9-24-16.5 that has not expired, only
if the financing statement provides the name of the individual
which is indicated on the driver's license, identification card, or
photo exempt identification card;
(5) if the debtor is an individual to whom subdivision (4) 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 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 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) 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)(6)(B), 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
(1) debtor and the name of more than one (1) 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 subsection (a)(2).
(g) If this state has issued to an individual more than one (1) driver's
license or identification card of a kind described in subsection (a)(4),
the one (1) that was issued most recently is the one (1) to which
subsection (a)(4) refers.
(h) In this section, "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.

Legislative History

As added by P.L.57-2000, SEC.45. Amended by P.L.54-2011, SEC.13; P.L.197-2015, SEC.16.