(1) The debtor name to be provided when the collateral is held in a trust that is not a registered organization is:
- (a) the name of the trust as set forth in its organic records, if the trust has a name; or
- (b) If the trust is not so named, the name of the trust's settlor or testator.
- (2) In order for the UCC information management system to function in accordance with the usual expectations of filers and searchers, the name of a trust or the name of a settlor or testator that is an organization should be provided as an organization debtor name, and the name of a settlor or testator who is an individual should be provided as an individual debtor name, in each case without regard to the nature or character of the debtor.
- (3) Notwithstanding the foregoing, the filing office shall enter data submitted by a filer in the fields designated by the filer exactly as it appears in those fields.
KEY: banking, equipment leasing, filing documents
Date of Last Change: September 21, 2022
Notice of Continuation: November 12, 2025
Authorizing, and Implemented or Interpreted Law: 70A-9a et seq.