Indiana Court Upholds "Driver's License" Rule For Individual Debtor Names

LexisNexis (March 1, 2017, 12:29 PM EST) -- A 2017 Indiana bankruptcy court decision appears to be the first reported case to construe the "driver's license" rule for identifying individual debtors on UCC financing statements.  In doing so, the court correctly construes the 2010 amendments to Article 9 and underscores the advantages of states that have adopted Alternative A to UCC 9-503(a)(4), which makes the debtor's driver's license the gold standard for UCC filing.

The Indiana case.  In In re Nay, Bankr. Case No 16-90762-BHL-11 (S.D. Ind. 1/23/17),  the debtors were Ronald Markt Nay...
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