Secured Lender’s Failure To Indicate Individual Debtor’s Driver’s License Name On The Financing Statement Is Fatal

LexisNexis (February 4, 2020, 12:25 PM EST) -- In 2010, Article 9 of the UCC was amended to require financing statements of individual debtors to reflect the precise name of an individual debtor as found on his or her driver’s license. Failure to comply renders the security interest unperfected and voidable by a trustee in bankruptcy. That’s what happened in a recent bankruptcy case from Kansas. We think the case was correctly decided....