|
      
step 3 - New
Financing Statements
Prepare
the Initial Financing Statement
for Filing
| More
than one debtor name is permitted. |
The
rules about debtor names apply to all debtors listed.
|
§46-9-503 |
| When
the debtor name is an individual person, it must be clear which
name is the last name so the debtor's name can be properly
indexed. The filing office is obligated to reject a filing
in which the last name cannot be identified. |
If
the name is not entered clearly in the Last Name, First Name,
Middle Name boxes on the new forms, the last name must be obvious.
For example, the filing office could not determine whether the
last name was Carter or Davidson in these examples:
Davidson Carter
Carter Davidson |
§46-9-502,
503 |
| When
the debtor is a registered organization, the name must match the
name as it appears on the public record in the debtor's
jurisdiction of organization to be sufficient. |
Filers
can check for correct names for WV corporations, limited liability
companies, limited partnerships, limited liability partnerships,
business trusts and voluntary associations on the WV
Business Organizations Database. |
§46-9-503(a)(1) |
| When
the debtor is a registered organization, listing the debtor by a
trade name is not sufficient. Use the official business
name. |
Trade
names are identified as DBA names [meaning "doing business
as"] on the WV Business Organizations Database. |
§46-9-503(c) |
| When
the debtor is the estate of a person who has died, use the name of
the decedent, and indicate that the debtor is an estate. |
|
§46-9-503(a)(2) |
| When
the debtor is a trust or trustee, use the name of the trust given
in its organic documents, and indicate on the filing that it is a
trust. (See Section 503 for more details) |
Filers
can check for correct names of business trusts on the WV
Business Organizations Database, but other trusts are not
filed with the Secretary of State. They are ordinarily filed
with the clerk of the county commission in WV. |
§46-9-503(a)(3) |
| When
the debtor does not have a name, include the names of the
partners, members, associates or other persons which together make
up the debtor. |
Few
general partnerships are registered with the Secretary of State,
and State Tax Department records of business names are not public.
If the correct name of a debtor which appears to be an
organization is not available in a public record, the names of the
individuals are used. |
§46-9-503(a)(4)(B) |
|
Debtor
Address & Debtor Type |
| The
debtor's mailing address must be included on original filings or
for an additional debtor added on an amendment. |
The
absence of this information will result in refusal of the filing. |
§46-9-516(b)(5) |
The
debtor type (individual or organization) must be indicated. If the
individual is an organization, the type of organization,
jurisdiction of the debtor organization, and organization ID or
"No ID" is also required.
|
For
example, information for the debtor ABC Corp. would include "Organization;
Corporation; WV; No ID" The absence of this information
will result in refusal of the filing. |
§46-9-516(b)(5) |
|
Secured
Party Information |
| More
than one secured party name is permitted. |
|
§46-9-503(e) |
| Give
the name and mailing address of each secured party of record. |
|
§46-9-516(b)(4) |
| On
an initial financing statement, the secured party of record is the
person who is named as the secured party or the representative of
the secured party. |
Even
on an initial financing statement, the party having the security
interest may assign that interest to another party by listing them
as the secured party.
|
§46-9-502(a)
§46-9-511(a)
§46-9-514(a) |
| If
the name given is the secured party's representative, the name
will be sufficient even if the representative capacity is not
stated. |
|
§46-9-511(a)
§46-9-514(a) |
| A
description of the collateral identifies the goods that are
covered by the financing statement. |
|
§46-9-504 |
| The
description is considered sufficient if it "reasonably
identifies the collateral." |
For
detailed examples of sufficient descriptions, see Section 108. |
§46-9-108 |
Choose another
step...
step 1
(find who files)
step
2 (determine where to file)
step 3 (prepare the filing) File
New Amend,
Continue, Assign Terminate
step
4 (complete the form & file)
|
