8.9A-503 - A-503. Name of debtor and secured party.
§ 8.9A-503. Name of debtor and secured party.
(a) Sufficiency of debtor's name. A financing statement sufficiently providesthe name of the debtor:
(1) if the debtor is a registered organization, only if the financingstatement provides the name of the debtor indicated on the public record ofthe debtor's jurisdiction of organization which shows the debtor to have beenorganized;
(2) if the debtor is a decedent's estate, only if the financing statementprovides the name of the decedent and indicates that the debtor is an estate;
(3) if the debtor is a trust or a trustee acting with respect to propertyheld in trust, only if the financing statement:
(A) provides the name specified for the trust in its organic documents or, ifno name is specified, provides the name of the settlor and additionalinformation sufficient to distinguish the debtor from other trusts having oneor more of the same settlors; and
(B) indicates, in the debtor's name or otherwise, that the debtor is a trustor is a trustee acting with respect to property held in trust;
(4) if the debtor is an individual, if the financing statement provides theindividual's name shown on the individual's driver's license oridentification card issued by the individual's state of residence; and
(5) in other cases:
(A) if the debtor has a name, only if it provides the individual ororganizational name of the debtor; and
(B) if the debtor does not have a name, only if it provides the names of thepartners, members, associates, or other persons comprising the debtor.
(b) Additional debtor-related information. A financing statement thatprovides the name of the debtor in accordance with subsection (a) is notrendered ineffective by the absence of:
(1) a trade name or other name of the debtor; or
(2) unless required under subsection (a)(5)(B), names of partners, members,associates, or other persons comprising the debtor.
(c) Debtor's trade name insufficient. A financing statement that providesonly the debtor's trade name does not sufficiently provide the name of thedebtor.
(d) Representative capacity. Failure to indicate the representative capacityof a secured party or representative of a secured party does not affect thesufficiency of a financing statement.
(e) Multiple debtors and secured parties. A financing statement may providethe name of more than one debtor and the name of more than one secured party.
(f) For purposes of subdivision (a)(4), "identification card issued by theindividual's state of residence" means:
(1) for a Virginia resident, an identification card issued by the Departmentof Motor Vehicles pursuant to Title 46.2; or
(2) for an individual who is not a resident of Virginia, an equivalentidentification card issued by the state of the individual's residence in lieuof a driver's license.
(2000, c. 1007; 2009, cc. 217, 610.)