Partnership Name and Filing UCC Documents - Sam Ott

<a href="http://adserve.bankersonline.com/cgi-bin/advertpro/blink.fpl?region=2&slot=1" target="_top"><img src="http://adserve.bankersonline.com/cgi-bin/advertpro/bimg.fpl?region=2&slot=1&keyword=NULL" border="0"></a>


Site Map Our Sponsors Home

Compliance Gurus
Operations Gurus
Security Gurus
Marketing Gurus
Technology Gurus
eBanking Gurus

Print Friendly!

Email This Article!

<a href="http://adserve.bankersonline.com/cgi-bin/advertpro/blink.fpl?region=34&slot=1" target="_top"><img src="http://adserve.bankersonline.com/cgi-bin/advertpro/bimg.fpl?region=34&slot=1&keyword=NULL" border="0"></a>

Partnership Name and Filing UCC Documents
by Sam Ott, BOL Guru
BIO AND CONTACT INFO

Question: My borrower is a general partnership. They have registered a fictitious name for their partnership. Under UCC article 9 do I record UCC documents under the fictitious name of the business or the individual partner names?

Answer: Article 9 Section 9-503(a)(4) and the accompanying Official Comment indicate that you should file under the name of the partnership. General partnerships are considered organizations and if the organization in question has a name, that name should be used on financing statement and other UCC documents. If an organization does not have a name, then the names of the individual partners would be used. Since your borrower has a name, the UCC documents should be completed using that name.

First published on BankersOnline.com 8/18/03

Home | Compliance | Lending | Operations | Security | Marketing | Technology | eBanking

BOL Archives Privacy Policy Important Disclaimer Recommend This Site ! Contact Us

BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.