Dissenting Statement Pertaining to the Name of an Individual Debtor on a Financing Statement — Appendix to Report on the Amendments to Article 9 of the Uniform Commercial Code
84 PA. B. ASSN. Q. 176-82 (2013)
7 Pages Posted: 4 Apr 2013 Last revised: 24 Oct 2013
Date Written: July 8, 2011
The 2010 amendments to Article 9 of the Uniform Commercial Code will become effective in most states in 2013. The major change effected by the amendments relates to the name to be shown on a financing statement when the debtor is an individual. The national drafting committee could not agree on a single solution and left states to choose between an “Alternative A” and “Alternative B.” The committee of the Pennsylvania Bar Association that prepared the bill to enact the 2010 amendments in Pennsylvania voted narrowly in favor of Alternative A. Two of the dissenters wrote the following statement, which explains why Alternative A is a mistake.
Keywords: Uniform Commercial Code, Article 9, secured transactions, name
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