§ 25-9-503. Name of debtor and secured party. - North Carolina Statutes

§ 25‑9‑503.  Nameof debtor and secured party.

(a)        Sufficiency ofdebtor's name. – A financing statement sufficiently provides the name of thedebtor:

(1)        If the debtor is aregistered organization, only if the financing statement provides the name ofthe debtor indicated on the public record of the debtor's jurisdiction oforganization which shows the debtor to have been organized;

(2)        If the debtor is adecedent's estate, only if the financing statement provides the name of thedecedent and indicates that the debtor is an estate;

(3)        If the debtor is atrust or a trustee acting with respect to property held in trust, only if thefinancing statement:

a.         Provides the namespecified for the trust in its organic documents or, if no name is specified,provides the name of the settlor and additional information sufficient todistinguish the debtor from other trusts having one or more of the samesettlors; and

b.         Indicates, in thedebtor's name or otherwise, that the debtor is a trust or is a trustee actingwith respect to property held in trust; and

(4)        In other cases:

a.         If the debtor has aname, only if it provides the individual or organizational name of the debtor;and

b.         If the debtor doesnot have a name, only if it provides the names of the partners, members,associates, or other persons comprising the debtor.

(b)        Additional debtor‑relatedinformation. – A financing statement that provides the name of the debtor inaccordance with subsection (a) of this section is not rendered ineffective bythe absence of:

(1)        A trade name orother name of the debtor; or

(2)        Unless requiredunder sub‑subdivision (a)(4)b. of this section, names of partners,members, associates, or other persons comprising the debtor.

(c)        Debtor's trade nameinsufficient. – A financing statement that provides only the debtor's tradename does not sufficiently provide the name of the debtor.

(d)        Representativecapacity. – Failure to indicate the representative capacity of a secured partyor representative of a secured party does not affect the sufficiency of afinancing statement.

(e)        Multiple debtorsand secured parties. – A financing statement may provide the name of more thanone debtor and the name of more than one secured party. (1899,cc. 17, 247; 1901, cc. 329, 704; 1903, c. 489; 1905, cc. 226, 319; Rev., s.2055; 1907, c. 843; 1909, c. 532; P.L. 1913, c. 49; C.S., s. 2490; 1925, c.285, s. 1; 1931, c. 196; 1933, c. 101, s. 6; 1945, c. 182, s. 2; c. 196, s. 2;1951, c. 926, s. 1; 1955, c. 386, s. 1; 1957, c. 564; 1961, c. 574; 1965, c. 700,s. 1; 1969, c. 1115, s. 1; 1975, c. 862, s. 7; 1983 (Reg. Sess., 1984), c.1116, s. 43; 1989, c. 523, s. 7; 2000‑169, s. 1.)