2000 Minnesota Statutes

     336.9-503 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 public record of the debtor's jurisdiction of organization 
 which shows the debtor to have been organized; 

    (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 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; and 

    (4) 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 debtor 
 and the name of more than one secured party. 

    HIST: 2000 c 399 art 1 s 74 

*   NOTE:  This section, as added by Laws 2000, chapter 399, 
*article 1, section 74, is effective July 1, 2001.  Laws 2000, 
*chapter 399, article 1, section 130. 

*   NOTE:  Minnesota Statutes 1998, section 336.9-503, which 
*reads as follows, is repealed July 1, 2001.  Laws 2000, chapter 
*399, article 1, section 130. 

*   "336.9-503 Secured party's right to take possession 
*after default.  

*   Unless otherwise agreed a secured party has on default the 
*right to take possession of the collateral.  In taking 
*possession a secured party may proceed without judicial process 
*if this can be done without breach of the peace or may proceed 
*by action.  If the security agreement so provides the secured 
*party may require the debtor to assemble the collateral and make 
*it available to the secured party at a place to be designated by 
*the secured party which is reasonably convenient to both 
*parties.  Without removal a secured party may render equipment 
*unusable, and may dispose of collateral on the debtor's premises 
*under section 336.9-504."