S.D. Admin. R. 5:04:04:18

Current through Register Vol. 51, page 67, December 16, 2024
Section 5:04:04:18 - UCC information management system - Trusts

If the trust is named in an organic record, the trust's full legal name as set forth in such record is used. Each trust shall be treated as an organization. If the trust is not so named, the name of the trustee as the trustee of the (here insert identifying language sufficient to identify the trust) is used. The name of the trustee is treated as an organization name. A UCC record that uses a trustee's name shall include other information provided by the filer to distinguish the debtor trust from other trusts having the same trustee and any financing statement filed against a trust or trustee acting with respect to property held in trust shall indicate the nature of the debtor. If this is done in the name of the debtor, the UCC record shall be entered as if it is a part of the name under § 5:04:04:15.

S.D. Admin. R. 5:04:04:18

28 SDR 23, effective 7/18/2001; 42 SDR 177, effective 6/30/2016

General Authority: SDCL 57A-9-526.

Law Implemented: SDCL 57A-9-525.2.