A number of amendments to Article 9 of the Uniform Commercial
Code ("UCC") went into effect in many states on July 1,
2013. Similar amendments are pending in a number of other states.
These amendments include several changes that have a significant
impact on the search and file process for purposes of perfecting a
security interest under the UCC.
While there are a number of changes, of particular significance
are revisions addressing the "correct" name of an
individual debtor or an organization for purposes of a financing
statement (UCC Section 9-503). As to individual debtors, the
amendments as adopted, or in some cases proposed, by the states are
not uniform. Thus, depending on which amendments have been or are
adopted in a particular state, there may be variations that could
apply depending on which state's law controls perfection of the
security interest. In light of these changes, the actual form of
financing statement has also been revised for use in many
