Tennessee Code Annotated

Title 47: Commercial Instruments and Transactions

Chapter 9: Secured Transactions

Part 5: Filing

TCA 47-9-503: Name of debtor and secured party.

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

     (1)  If the debtor is a registered organization, only if the financing statement provides the name of the debtor indicated on the debtor's formation documents that are filed of public record in the debtor's jurisdiction of organization to create the registered organization and that show the debtor to have been organized, including any amendments to those documents for the express purpose of amending the debtor's name;

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

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

          (A)  Provides the name specified for the trust in its organic documents or, if no name is specified, provides the name of the settlor and additional information sufficient to distinguish the debtor from other trusts having one (1) or more of the same settlors; and

          (B)  Indicates, in the debtor's name or otherwise, that the debtor is a trust or is a trustee acting with respect to property held in trust;

     (4)  If the debtor is an individual, if the financing statement provides the individual's name shown on the individual's driver's license or identification license issued by the individual's state of residence; and

     (5)  In other cases:

          (A)  If the debtor has a name, only if it provides the individual or 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.

(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)(4)(B), names of partners, members, associates, or other persons comprising the debtor.

(c)  Debtor's trade name insufficient.  A financing statement that provides only the debtor'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 (1) debtor and the name of more than one (1) secured party.

(f)  For purposes of this part, "identification license issued by the individual's state of residence" as used in subdivision (a)(4) means:

     (1)  For a resident of this state, the photo identification license authorized by § 55-50-336; or

     (2)  For an individual not a resident of this state, an equivalent state-issued identification license issued by the state of the individual's residence in lieu of a driver's license.

History: [Acts 2000, ch. 846, § 1; 2008, ch. 648, § 1; 2008, ch. 1109, §§ 1, 2.]