(a) A financing statement sufficiently provides the name of the debtor only if it does so in accordance with the following rules:
(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 subdivision (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 satisfies both of the following conditions:
(A) Provides, as the name of the debtor, either of the following:
(i) If the organic record of the trust specifies a name for the trust, the name specified.
(ii) If the organic record of the trust does not specify a name for the trust, the name of the settlor or testator.
(B) In a separate part of the financing statement, the following information is provided, as applicable:
(i) If the name is provided in accordance with clause (i) of subparagraph (A), the financing statement indicates that the collateral is held in a trust.
(ii) If the name is provided in accordance with clause (ii) of subparagraph (A), the financing statement 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 subdivision (g), if the debtor is an individual to whom the Department of Motor Vehicles has issued a driver’s license that has not expired or an identification card that has not expired, only if the financing statement provides the name of the individual indicated on that driver’s license or identification card.
(5) If 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, according to the following rules:
(A) If the debtor has a name, only if the financing statement provides the organizational name of the debtor.
(B) 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.
(7) Subject to the following sentence of this paragraph, it is a violation of Section 51 of the Civil Code for a secured party or proposed secured party to decline to provide credit to a debtor or proposed debtor, or offer to make the terms and conditions of the credit less favorable to the debtor or proposed debtor if (A) that decision was based on the fact that the debtor’s name to be included on the financing statement is or would be that provided under paragraph (5) rather than under paragraph (4), and (B) all elements that would be required to establish a claim for violation of Section 51 of the Civil Code are established. Any affirmative defenses that would be available to a claim under Section 51 of the Civil Code would be affirmative defenses to a claim under this paragraph. This paragraph shall not be construed to alter, expand, limit, or negate any other rights, defenses, or remedies under Section 51 of the Civil Code.
(b) A financing statement that provides the name of the debtor in accordance with subdivision (a) is not rendered ineffective by the absence of either of the following:
(1) A trade name or other name of the debtor.
(2) Unless required under subparagraph (B) of paragraph (6) of subdivision (a), names of partners, members, associates, or other persons comprising the debtor.
(c) A financing statement that provides only the debtor’s trade name does not sufficiently provide the name of the debtor.
(d) 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) A financing statement may provide the name of more than one debtor and the name of more than one secured party.
(f) 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 paragraph (2) of subdivision (a).
(g) If the Department of Motor Vehicles has issued to an individual more than one driver’s licenses or identification cards of a kind described in paragraph (4) of subdivision (a), paragraph (4) of subdivision (a) refers to the most recently issued license or card.
(h) For purposes of this section:
(1) “Driver’s license” and “identification card” includes a driver’s license or identification card issued pursuant to subdivision (a) of Section 12801.9 of the Vehicle Code.
(2) “Name of the settlor or testator” means either of the following:
(A) 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.
(B) In other cases, the name of the settlor or testator indicated in the trust’s organic record.
(Amended by Stats. 2022, Ch. 482, Sec. 2. (AB 1766) Effective January 1, 2023.)