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#1828269 - 06/27/13 04:27 PM Drivers license expires = name change?
shea930 Offline
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Joined: Dec 2008
Posts: 267
From what I have read the expiration of a driver's license may qualify as a name change for purposes of 9-507(c). Does this mean if we close a loan today and get a copy of their DL and DL will expire in 6 months.....do we need to request a new copy of their DL after it expires to update our financing statement or corfirm it's still accurate?

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Article 9
#2013950 - 05/13/15 08:32 PM Re: Drivers license expires = name change? shea930
SDBanker80 Offline
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Joined: Mar 2014
Posts: 8
bump

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#2024772 - 07/02/15 05:06 PM Re: Drivers license expires = name change? shea930
Smiles Offline
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Joined: Jan 2007
Posts: 19
That is how we have been interpreting it. We maintain a database of our customers licenses separate from our credit files. If the license is expired we request the new one to verify the name still matches.

Most of our filings have also been amended to include two versions of the borrowers name. The match to the Driver's License which typically includes a middle initial and then just the First name and 1st surname.

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