Also known as: debtor's name · debtor name · debtors name · name of the debtor · debtor identification
Written by attorneys · grounded in primary & secondary sources — see below
The name of the debtor that a financing statement must include to satisfy the formal requirements for sufficiency under Article 9. The name must match the debtor's legal name exactly as specified by the applicable statutory rules for individuals or organizations.
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Devon Drake borrowed funds from a lender and granted a security interest in equipment. The lender filed a financing statement listing the debtor as "D. Drake" instead of Devon Drake's full legal name. Because the filing failed to provide the debtor's correct name, the financing statement was insufficient and the security interest remained unperfected against later creditors.
C.W. Mining Co. obtained financing and the secured party filed statements using an abbreviated version of the debtor's organizational name. A subsequent creditor searched under the correct legal name and found no record. The court held the filings ineffective because the debtor's name was not properly provided, leaving the security interests unperfected.
The financing statement is insufficient and fails to perfect the security interest. Later creditors who search under the correct name receive no notice and may obtain priority.
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No. The statute expressly states that a financing statement is not rendered ineffective by the absence of a trade name, confirming that only the legal name counts.
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The statement must provide the individual's legal name or the surname and first personal name. Any other format renders the filing insufficient.
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