KRS 355.9-503: Name of debtor and secured party.
Where this section sits in the code
(1) A financing statement sufficiently provides the name of the debtor:
(a) Except as otherwise provided in paragraph (c) 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
recordmost recently filed with or issued or enacted by the registered
organization's jurisdiction of organization which purports t o state, amend, or
restate the registered organization's name;
(b) Subject to subsection (6) 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;
(c) If the collateral is held in a trust that is not a registered organization, only if
the financing statement:
1. Provides, as the name of the debtor:
a. If the organic record of the trust specifies a name for the trust, the
name so specified; or
b. If the organic record of the trust does not specify a name for the
trust, the name of the settlor or testator; and
2. In a separate part of the financing statement:
a. If the name is provided in accordance with subparagraph 1.a. of
this paragraph, indicates that the collateral is held in a trust; or
b. If the name is provided in accordance with s ubparagraph 1.b. of
this paragraph, provides additional information sufficient to
distinguish the trust from other trusts having one (1) 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;
(d) Subject to subsection (7) of this section, if the debtor is an individual to whom
this state has issued an operator's license that has not expired, only if the
financing statement provides the name of the individual whi ch is indicated on
the operator's license;
(e) If the debtor is an individual to whom paragraph (d) 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
(f) In other cases:
1. If the debtor has a name, only if the financing statement provides the
organizational name of the debtor; and
2. 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.
(2) A financing statement that provides the name of the deb tor in accordance with
subsection (1) of this section is not rendered ineffective by the absence of:
(a) A trade name or other name of the debtor; or
(b) Unless required under subsection (1)(f)2. of this section, names of partners,
members, associates, or other persons comprising the debtor.
(3) A financing statement that provides only the debtor's trade name does not
sufficiently provide the name of the debtor.
(4) 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.
(5) A financing statement may provide the name of more than one (1) debtor and the
name of more than one (1) secured party.
(6) 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 subsection (1)(b) of this
section.
(7) If this state has issued to an individual more than one (1) operator's license of a kind
described in subsection (1)(d) of this section, the one that was issued most recently
is the one to which subsection (1)(d) of this section refers.
(8) The "name of the settlor or testator" means:
(a) If the settlor is a register ed organization, the name of the registered
organization indicated on the public organic record filed with or issued or
enacted by the registered organization's jurisdiction of organization; or
(b) In other cases, the name of the settlor or testator indicated in the trust's organic
record.
Collected 2026-09-05T20:58:48Z. Source file · JSON