§ 41-09-74 — (9-503) Name of debtor and secured party

North Dakota § 41-09-74

• Jurisdiction: North Dakota
• Title 41: Uniform Commercial Code
• Ch. 41-09: Secured Transactions

Text

1. A financing statement sufficiently provides the name of the debtor:
a. Except as otherwise provided in subdivision c, 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;
b. Subject to subsection 6, 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;
c. If the collateral is held in a trust that is not a registered organization, only if the
financing statement:
(1) Provides, as the name of the debtor:
(a) If the organic record of the trust specifies a name for the trust, the
name so specified; or
(b) If the organic record of the trust does not specify a name for the trust,
the name of the settlor or testator; and
(2) In a separate part of the financing statement:
(a) If the name is provided in accordance with subparagraph a of
paragraph 1, indicates that the collateral is held in a trust; or
(b) If the name is provided in accordance with subparagraph b of
paragraph 1, 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;
d. Subject to subsection 7, if the debtor is an individual to whom this state has
issued a driver's license or identity card that has not expired, only if the financing
statement provides the name of the individual which is indicated on the driver's
license or identity card;
e. If the debtor is an individual to whom subdivision d 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
f. In other cases:
(1) If the debtor has a name, only if the financing statement provides the
organizational name of the debtor; and
(2) If the debtor does not have a name, only if the financing statement 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.
2. A financing statement that provides the name of the debtor in accordance with
subsection 1 is not rendered ineffective by the absence of:
a. A trade name or other name of the debtor; or

b. Unless required under paragraph 2 of subdivision f of subsection 1, names of
partners, members, associates, or other persons comprising the debtor.
3. A financing statement that provides only the debtor's trade name does not sufficiently
provide the name of the debtor.
4. 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.
5. A financing statement may provide the name of more than one debtor and the name of
more than one secured party.
6. 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 b of
subsection 1.
7. If this state has issued to an individual more than one driver's license or identity card of
a kind described in subdivision d of subsection 1, the one that was issued most
recently is the one to which subdivision d of subsection 1 refers.
8. The "name of the settlor or testator" means:
a. If the settlor is a registered organization, the name of the registered organization
indicated on the public organic record filed with or issued or enacted by the
registered organization's jurisdiction of organization; or
b. In other cases, the name of the settlor or testator indicated in the trust's organic
record.