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Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

Individual Debtor Name Requirement For Oregon UCC Filings To Change

UCC, Legislation

Effective January 1, 2016, individual debtor names listed on new UCC-1 filings will need to match the name found on their Oregon driver’s license or Oregon-issued state ID card. This requirement, signed into law by Governor Kate Brown on June 22, 2015, will also apply to the next continuation for existing UCC filings.

Currently, the name a person “is commonly known by,” also referred to as Alternative B, is acceptable for naming a debtor on a UCC in Oregon. Under Senate Bill 462, this requirement will change to what is commonly referred to as Alternative A; the individual debtor name must match the name on their Oregon driver’s license or state issued ID. All existing UCC filings will remain in effect until continued or up until January 1, 2021 but no later.

First Corporate Solutions can help.
Clients can file electronically using FCS’s web-based filing system with XML technology for seamless electronic submission. As always you can rely on FCS, your partner and trusted resource for all of your nationwide filing and search needs. If you are not an existing FCS client, please contact us to schedule a system demo.

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