§ 9-503 — Name of Debtor and Secured Party

Section 9--503. Name of Debtor and Secured Party.\n (a) Sufficiency of debtor's name. A financing statement sufficiently\nprovides the name of the debtor:\n (1) except as otherwise provided in paragraph (3), if the debtor\n is a registered organization or the collateral is held in a\n trust that is a registered organization, only if the\n financing statement provides the name that is stated to be\n the registered organization's name on the public organic\n record most recently filed with or issued or enacted by the\n registered organization's jurisdiction of organization which\n purports to state, amend, or restate the registered\n organization's name;\n (2) subject to subsection (f), if the collateral is being\n administered by the personal representative of a decedent,\n only if the financing statement provides, as the name of the\n debtor, the name of the decedent and, in a separate part of\n the financing statement, indicates that the collateral is\n being administered by a personal representative;\n (3) if the collateral is held in a trust that is not a registered\n organization, only if the financing statement:\n (A) provides, as the name of the debtor:\n (i) if the organic record of the trust specifies a name\n for the trust, the name specified; or\n (ii) if the organic record of the trust does not specify\n a name for the trust, the name of the settlor or\n testator; and\n (B) in a separate part of the financing statement:\n (i) if the name is provided in accordance with\n subparagraph (A)(i), indicates that the collateral is\n held in a trust; or\n (ii) if the name is provided in accordance with\n subparagraph (A)(ii), provides additional\n information sufficient to distinguish the trust from\n other trusts having one or more of the same settlors\n or the same testator and indicates that the\n collateral is held in a trust, unless the additional\n information so indicates;\n (4) subject to subsection (g), if the debtor is an individual to\n whom this State has issued a driver's license or non-driver\n photo identification card that has not expired, only if the\n financing statement provides the name of the individual which\n is indicated on the driver's license or non-driver photo\n identification card;\n (5) if the debtor is an individual to whom paragraph (4) does not\n apply, only if the financing statement provides the\n individual name of the debtor or the surname and first\n personal name of the debtor; and\n (6) in other cases:\n (A) if the debtor has a name, only if the financing statement\n provides the organizational name of the debtor; and\n (B) if the debtor does not have a name, only if it provides\n the names of the partners, members, associates, or other\n persons comprising the debtor, in a manner that each name\n provided would be sufficient if the person named were the\n debtor.\n (b) Additional debtor-related information. A financing statement that\nprovides the name of the debtor in accordance with subsection (a) is not\nrendered ineffective by the absence of:\n (1) a trade name or other name of the debtor; or\n (2) unless required under subsection (a)(6)(B), names of\n partners, members, associates, or other persons comprising\n the debtor.\n (c) Debtor's trade name insufficient. A financing statement that\nprovides only the debtor's trade name does not sufficiently provide the\nname of the debtor.\n (d) Representative capacity. Failure to indicate the representative\ncapacity of a secured party or representative of a secured party does\nnot affect the sufficiency of a financing statement.\n (e) Multiple debtors and secured parties. A financing statement may\nprovide the name of more than one debtor and the name of more than one\nsecured party.\n (f) Name of decedent. The name of the decedent indicated on the order\nappointing the personal representative of the decedent issued by the\ncourt having jurisdiction over the collateral is sufficient as the "name\nof the decedent" under subsection (a)(2).\n (g) Multiple driver's licenses. If this State has issued to an\nindividual more than one driver's license or non-driver photo\nidentification card of a kind described in subsection (a)(4), the one\nthat was issued most recently is the one to which subsection (a)(4)\nrefers.\n (h) Definition. In this section, the "name of the settlor or testator"\nmeans:\n (1) if the settlor is a registered organization, the name that is\n stated to be the settlor's name on the public organic record\n most recently filed with or issued or enacted by the\n settlor's jurisdiction of organization which purports to\n state, amend, or restate the settlor's name; or\n (2) in other cases, the name of the settlor or testator indicated\n in the trust's organic record.\n