Wis. Admin. Code Department of Financial Institutions DFI-CCS 4.09

Current through November 25, 2024

Section DFI-CCS 4.09 - Data entry of names - no designated fields

(1) A UCC document that is an initial financing statement or an amendment that adds a debtor to a financing statement and that fails to specify whether the debtor is an individual or an organization shall be refused by the filing office.

(2) If a UCC document that is an initial financing statement or an amendment that adds a debtor to a financing statement and that fails to specify whether the debtor is an individual or an organization is accepted for filing in error, the following shall apply:

(a)Identification of organizations. When not set forth in a field designated for individual names, a name shall be treated as an organization name if it contains words or abbreviations that indicate status. In cases where organization or individual status is not designated by the filer and is not clear, the filing officer shall use their own judgment.

Note: Example: Association, church, college, company, co., corp., corporation, inc., limited, ltd., club, foundation, fund, L.L.C., limited liability company, institute, society, union, syndicate, GmBH, S.A. de C.V., limited partnership, L.P., limited liability partnership, L.L.P., trust, business trust, co-op, cooperative and other designations established by statutes to indicate a statutory organization shall be treated as an organization name.

(b)Identification of individuals. A name shall be entered as the name of an individual and not the name of an organization when the name is followed by certain titles or its equivalent in a foreign language.

Note: Example: proprietor, sole proprietor, proprietorship, sole proprietorship, partner, general partner, president, vice president, secretary, treasurer, M.D., O.D., D.D.S., attorney at law, Esq., accountant, or CPA. In such cases, the title shall not be entered.

(c)Individual and organization names on a single line. Where it is apparent that the name of an individual and the name of an entity are stated on a single line and not in a designated individual name field, the name of the individual and the name of the entity shall be entered as two separate debtors, one as an individual and one as an entity.

(d)Individual names. The failure to designate the last name of an individual debtor in an initial financing statement or an amendment adding the debtor to a financing statement shall cause a filing to be refused. If the filing is accepted in error, or if only the last name is designated, the following shall apply:

1. An initial in the first position of the name shall be treated as a first name. An initial in the second position of the name shall be treated as a middle name.

2. An initial and a name to which the initial apparently corresponds shall be entered into one name field only.

Note: Example: "D (David)" in the name "John D (David) Rockefeller" is entered as "John" (first name); "D (David)" (middle name); "Rockefeller" (last name).

3. Two individual names contained in a single line shall be entered as two, different debtors.

Note: Example: the debtor name "John and Mary Smith" is entered as two debtors: "John Smith", and "Mary Smith".

4. A one word name shall be entered as a last name.

Note: Example: "Charo" is treated as a last name.

5. A nickname shall be entered in the name field together with the name preceding the nickname, or if none, then as the first name.

Wis. Admin. Code Department of Financial Institutions DFI-CCS 4.09

CR 01-122: cr. Register February 2002 No. 554, eff. 3/1/2002.

Example: "William (Bill) Jones".