                                 CODE OF VIRGINIA

NAME OF DEBTOR AND SECURED PARTY (§ 8.9A-503)

a. Sufficiency of debtor&#8217;s name. A financing statement sufficiently
provides the name of the debtor:

   1. except as otherwise provided in paragraph (3), 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&#8217;s name on the public
   organic record most recently filed with or issued or enacted by the registered
   organization&#8217;s jurisdiction of organization which purports to state,
   amend, or restate the registered organization&#8217;s name;

   2. subject to subsection (f), 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 the 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 subparagraph (A)(i), indicates
that the collateral is held in trust; or

   ii. if the name is provided in accordance with subparagraph (A)(ii), 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), if the debtor is an individual to whom the
   Commonwealth has issued a driver&#8217;s license or other document under
   Chapter 3 (&#xA7; 46.2-300 et seq.) of Title 46.2 that has not expired, only
   if it provides the name of the individual which is indicated on the
   driver&#8217;s license or other document;

   5. if the debtor is an individual to whom paragraph (4) does not apply, only
   if it 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 it 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. Additional debtor-related information. A financing statement that provides
the name of the debtor in accordance with subsection (a) is not rendered
ineffective by the absence of:

   1. a trade name or other name of the debtor; or

   2. unless required under subsection (a)(6)(B), names of partners, members,
   associates, or other persons comprising the debtor.

c. Debtor&#8217;s trade name insufficient.  A financing statement that provides
only the debtor&#8217;s trade name does not sufficiently provide the name of the
debtor.

d. 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.

e. 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.

f. 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 &#8220;name of the
decedent&#8221; under subsection (a)(2).

g. Multiple driver&#8217;s licenses.  If the Commonwealth has issued to an
individual more than one driver&#8217;s license or other document of a kind
described in subsection (a)(4), the one that was issued most recently is the one
to which subsection (a)(4) refers.

h. Definition. In this section, the &#8220;name of the settlor or
testator&#8221; means:

   1. if the settlor is a registered organization, the name of the registered
   organization indicated on the public organic record filed with or issued or
   enacted by the registered organization&#8217;s jurisdiction of organization;
   or

   2. in other cases, the name of the settlor or testator indicated in the
   trust&#8217;s organic record.

HISTORY: 2000, c. 1007; 2009, cc. 217, 610; 2012, c. 155; 2020, cc. 1227, 1246.