§ 10:9-503 — Name of debtor and secured party

Louisiana § 10:9-503

• Jurisdiction: Louisiana
• Title 10: Commercial Laws

Text

§9-503. Name of debtor and secured party
(a) Sufficiency of debtor's name. A financing statement sufficiently provides the
name of the debtor:
(1) except as otherwise provided in Paragraph (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 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 Item (A)(i) of this Paragraph, indicates
that the collateral is held in a trust; or
(ii) if the name is provided in accordance with Item (A)(ii) of this Paragraph,
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 Paragraph (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) 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 Subparagraph (a)(6)(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.
(f) Name of decedent. 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 Paragraph (a)(2) of this Section.
(g) Multiple driver's licenses. If this state has issued to an individual more than one
driver's license of a kind described in Paragraph (a)(4) of this Section, the one that was issued
most recently is the one to which Paragraph (a)(4) of this Section refers.
(h) Definition. 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.

Legislative History

Acts 1988, No. 528, §1, eff. Jan. 1, 1990; Acts 1989, No. 135, §7, eff. Jan. 1, 1990; Acts 1990, No. 1079, §4, eff. Sept. 1, 1990; Acts 1995, No. 884, §5, eff. Jan. 1, 1996; Acts 2001, No. 128, §1, eff. July 1, 2001; Acts 2012, No. 450, §1, eff. July 1, 2013.