Pennsylvania Consolidated & Unconsolidated Statutes
Chapter 95 - Filing
Section 9503 - Name of debtor and secured party


(a) Sufficiency of debtor'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's name on the public organic record most recently filed with or issued or enacted by the registered organization's jurisdiction of organization which purports to state, amend or restate the registered organization'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:
(i) provides, as the name of the debtor:
(A) if the organic record of the trust specifies a name for the trust, the name 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
(ii) in a separate part of the financing statement:
(A) if the name is provided under subparagraph (i)(A), indicates that the collateral is held in a trust; or
(B) if the name is provided under subparagraph (i)(B), 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 Department of Transportation has issued a driver's license which has not expired under 75 Pa.C.S. § 1510(a) (relating to issuance and content of driver's license) or an identification card under 75 Pa.C.S. § 1510(b), only if the financing statement provides the name of the individual which is indicated on:
(i) except as set forth in subparagraph (ii), the driver's license; or
(ii) if there is no driver's license, the identification card.
(5) If the debtor is an individual to whom paragraph (4) 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.
(6) In other cases:
(i) if the debtor has a name, only if the financing statement provides the organizational name of the debtor; and
(ii) if the debtor does not have a name, only if the financing statement 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 which 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)(ii), names of partners, members, associates or other persons comprising the debtor.
(c) Debtor's trade name insufficient.--A financing statement which 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 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 name of the decedent under subsection (a)(2).
(g) Multiple driver's licenses.--If the department has issued to an individual more than one driver's license or identification card 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.--As used in this section, the term "name of the settlor or testator" means:
(1) if the settlor is a registered organization, the name that is stated to be the settlor's name on the public organic record most recently filed with or issued or enacted by the settlor's jurisdiction of organization which purports to state, amend or restate the settlor's name; or
(2) in other cases, the name of the settlor or testator indicated in the trust's organic record.
(June 27, 2013, P.L.154, No.30, eff. July 1, 2013)

2013 Amendment. Act 30 amended subsecs. (a) and (b)(2) and added subsecs. (f), (g) and (h). Section 12 of Act 30 provided that, in order to implement the amendment of section 9503, the Department of State and the Department of Transportation shall coordinate development and maintenance of electronic systems for entering and searching data.
Cross References. Section 9503 is referred to in sections 9502, 9506, 9507, 9805 of this title.

Structure Pennsylvania Consolidated & Unconsolidated Statutes

Pennsylvania Consolidated & Unconsolidated Statutes

Title 13 - COMMERCIAL CODE

Chapter 95 - Filing

Extra - Chapter Notes

Section 9501 - Filing office

Section 9502 - Contents of financing statement; record of mortgage as financing statement; time of filing financing statement

Section 9503 - Name of debtor and secured party

Section 9504 - Indication of collateral

Section 9505 - Filing and compliance with other statutes and treaties for consignments, leases, other bailments and other transactions

Section 9506 - Effect of errors or omissions

Section 9507 - Effect of certain events on effectiveness of financing statement

Section 9508 - Effectiveness of financing statement if new debtor becomes bound by security agreement

Section 9509 - Persons entitled to file a record

Section 9510 - Effectiveness of filed record

Section 9511 - Secured party of record

Section 9512 - Amendment of financing statement

Section 9513 - Termination statement

Section 9514 - Assignment of powers of secured party of record

Section 9515 - Duration and effectiveness of financing statement; effect of lapsed financing statement

Section 9516 - What constitutes filing; effectiveness of filing

Section 9517 - Effect of indexing errors

Section 9518 - Claim concerning inaccurate or wrongfully filed record

Section 9519 - Numbering, maintaining and indexing records; communicating information provided in records

Section 9520 - Acceptance and refusal to accept record

Section 9521 - Uniform form of written financing statement and amendment

Section 9522 - Maintenance and destruction of records

Section 9523 - Information from filing office; sale or license of records

Section 9524 - Delay by filing office

Section 9525 - Fees

Section 9526 - Filing-office rules

Section 9527 - Duty to report