Vermont § 503 - § 9—503.

Full text of Vermont Vermont Statutes Online § 503 — § 9—503., with citation guidance and answers to common questions.

§ 503. § 9—503.

  • Name of debtor and secured party (a) A financing statement sufficiently provides the name of the debtor: (1) except as otherwise provided in subdivision (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; (2) subject to subsection (f) of this 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; (3) if collateral is held in a trust that is not a registered organization, only if the
    financing statement: (A) provides, as the name of the debtor: (i) if the organic record of the trust specifies a name for the trust, the name specified;
    or (ii) if the organic record of the trust does not specify a name for the trust, the name
    of the settlor or testator; and (B) in a separate part of the financing statement: (i) if the name is provided in accordance with subdivision (3)(A)(i) of this subsection,
    indicates that the collateral is held in a trust; or (ii) if the name is provided in accordance with subdivision (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; (4) subject to subsection (g) of this 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; (5) if the debtor is an individual to whom subdivision (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 (6) in other cases: (A) if the debtor has a name, only if the financing statement provides the organizational
    name of the debtor; and (B) 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. (b) A financing statement that provides the name of the debtor in accordance with subsection
    (a) of this section is not rendered ineffective by the absence of: (1) a trade name or other name of the debtor; or (2) unless required under subdivision (a)(6)(B) of this section, names of partners, members,
    associates, or other persons comprising the debtor. (c) A financing statement that provides only the debtor’s trade name does not sufficiently
    provide the name of the debtor. (d) 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. (e) A financing statement may provide the name of more than one debtor and the name of
    more than one secured party. (f) 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 (a)(2) of this section. (g) If this state has issued to an individual more than one driver’s license of a kind
    described in subdivision (a)(4) of this section, the one that was issued most recently
    is the one to which subdivision (a)(4) of this section refers. (h) In this section, the “name of the settlor or testator” means: (1) 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 (2) in other cases, the name of the settlor or testator indicated in the trust’s organic
    record. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001; amended 2013, No. 157 (Adj. Sess.), § 1.)

Frequently Asked Questions About Vermont § 503

What does Vermont Statutes Online § 503 cover?

Section 503 ("§ 9—503.") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Vermont § 503?

A common citation format is "Vermont Statutes Online § 503" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Vermont law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.

How does Vermont § 503 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.