111-11-35 Trusts.

 

 

 

111-11-35                    Trusts.

 

 

 

The debtor name to be provided for a debtor that is a trust or a trustee acting in respect of trust property is the name of the trust as set forth in its organic record(s), if the trust has such a name or, if the trust is not so named, the name of the trust's settler. In order for the information management system to function in accordance with the usual expectations of filers and searchers, the name of a trust or of a settler who is an organization should be provided as an organization debtor name, and the name of a settler who is an individual should be provided as an individual debtor name, in each case without regard to the nature or character of the debtor. Notwithstanding the foregoing, the filing office will enter data submitted by a filer in the fields designated by the filer exactly as it appears in such fields. If the trust is named in its organic record(s), its full legal name, as set forth in such record(s), is used. Such trusts are treated as organizations. If the trust is not so named, the name of the settlor is used. If a settlor is indicated to be an organization, the name is treated as an organization name. If the settlor is an individual, the name is treated as an individual name. A UCC record that uses a settlor's name should include other information provided by the filer to distinguish the debtor trust from other trusts having the same settlor and all financing statements filed against trusts or trustees acting with respect to property held in trust should indicate the nature of the debtor. If this is done in, or as part of, the name of the debtor, it will be entered as if it were a part of the name under rule 111-11-51 of the Administrative Code.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

111-11-35                                                                                                                              2

Effective:                                                     01/07/2011

R.C. 119.032 review dates:                         10/21/2010 and 07/15/2015

CERTIFIED ELECTRONICALLY

Certification

12/27/2010

Date

Promulgated Under:                           119.03

Statutory Authority:                           1309.526

Rule Amplifies:                                  1309.519

Prior Effective Dates:                         7/3/01 (Emer.), 9/20/01.