CT Lien Solutions recently hosted a webinar on the July 2013 amendments to the UCC Article 9. With more than 1,500 attendees, our expert Tim Hall fielded a wealth of questions from the audience. Over the span of several weeks, we will address some of those questions here on our blog. Keep coming back for more answers.
Q: If the individual has just moved to a new state and did not change his driver’s license, can we file in the state on their ID as well as their new state of residence?
A: There’s no need to do that. The only requirement under Article 9 is to file in the principle residence of the individual. So if an individual has moved to a new location and that is their principle residence, that is the place to file. If they still have a driver’s license from the old residence or the old jurisdiction, there’s no need just because they still have a driver’s license from there to file anything there. You only need to make one filing at the debtor’s location. The only issue you run into there is you can’t use the driver’s license to determine the individual debtor name.
Tim Hall, Director of Government Relations, has been with CT Corporation for 15 years. He spent his first three years as a Team Leader for a UCC Service team, and has been with the Government Relations team for the remainder of his tenure. He is a graduate of The Ohio State University and the Northern Illinois University College of Law, and is a frequent speaker on Article 9 of the UCC.