Georgia § 11-9-503 - Name of debtor and secured party.

§ 11-9-503. Name of debtor and secured party.

Sufficiency of debtor's name. A financing statement sufficiently provides the name of the debtor: 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; Subject to subsection (f) of this Code 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; If the collateral is held in a trust that is not a registered organization, only if the financing statement: Provides, as the name of the debtor: If the organic record of the trust specifies a name for the trust, the name specified; or If the organic record of the trust does not specify a name for the trust, the name of the settlor or testator; and In a separate part of the financing statement: If the name is provided in accordance with division (3)(A)(i) of this subsection, indicates that the collateral is held in a trust; or If the name is provided in accordance with division (3)(A)(ii) of this subsection, 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; Subject to subsection (g) of this Code 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; 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 In other cases: If the debtor has a name, only if the financing statement provides the organizational name of the debtor; and 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. Additional debtor related information. A financing statement that provides the name of the debtor in accordance with subsection (a) of this Code section is not rendered ineffective by the absence of: A trade name or other name of the debtor; or Unless required under subparagraph (a)(6)(B) of this Code section, names of partners, members, associates, or other persons comprising the debtor. 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. 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. 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. 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 (2) of subsection (a) of this Code section. Multiple driver's licenses. If this state has issued to an individual more than one driver's license of a kind described in paragraph (4) of subsection (a) of this Code section, the one that was issued most recently is the one to which such paragraph refers. Definition. As used in this Code section, the term "name of the settlor or testator" means: 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 In other cases, the name of the settlor or testator indicated in the trust's organic record. (Code 1981, § 11-9-503 , enacted by Ga. L. 2001, p. 362, § 1; Ga. L. 2013, p. 690, § 11/SB 185.) The 2013 amendment, effective July 1, 2013, substituted the present provisions of paragraphs (a)(1) through (a)(3), for the former provisions, which read: "(1) If the debtor is a registered organization, only if the financing statement provides the name of the debtor indicated on the public record of the debtor's jurisdiction of organization which shows the debtor to have been organized; "(2) If the debtor is a decedent's estate, only if the financing statement provides 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 property held in trust, only if the financing statement: "(A) Provides the name specified for the trust in its organic documents or, if no name is specified, provides the name of the settlor and additional information sufficient to distinguish the debtor from other trusts having one or more of the same settlors; and "(B) Indicates, in the debtor's name or otherwise, that the debtor is a trust or is a trustee acting with respect to property held in trust; and"; added present paragraphs (a)(4) and (a)(5); redesignated former paragraph (a)(4) as paragraph (a)(6); substituted "the financing statement provides the organizational" for "'it provides the individual or organizational" in subparagraph (a)(6)(A); added ", in a manner that each name provided would be sufficient if the person named were the debtor" at the end of subparagraph (a)(6)(B); substituted "subparagraph (a)(6)(B)" for "subparagraph (a)(4)(B)" in paragraph (b)(2); and added subsections (f) through (h). Law reviews. - For article discussing Uniform Commercial Code provisions establishing a security interest in fixtures as a means of protecting sellers, see 16 Mercer L. Rev. 404 (1965). For article discussing the Uniform Commercial Code provisions regarding the sufficiency of "The Description of Collateral in Security Agreements and Financing Statements," see 28 Mercer L. Rev. 611 (1977). For article, "The Revisions to Article IX of the Uniform Commercial Code," see 15 Ga. St. B.J. 120 (1977). For article, "Fixture Financing Under Georgia's New Article 9," see 16 Ga. St. B.J. 110 (1980). For article, "H.B. 712: New Requirements for Financing Statements and Continuation Statements Filed in Georgia," see 22 Ga. St. B.J. 6 (1985). For article, "H.B. 1364: Revised Requirements for Financing Statements and Continuation Statements Filed in Georgia," see 23 Ga. St. B.J. 50 (1986). For annual survey of law of real property, see 38 Mercer L. Rev. 319 (1986). For annual survey article on commercial law, see 50 Mercer L. Rev. 193 (1998). For comment on United States v. Crittenden, 563, F.2d 678 (5th Cir. 1977), appearing below, see 12 Ga. L. Rev. 692 (1977).