R 440.407 Data entry of names; designated fields.

Rule 407. (1) A financing statement must designate whether a name is a name of an individual or an organization and, if an individual, must also designate the first personal name, additional name or names or initial or initials, and surname and any suffix. (2) Both of the following provisions apply to the data entry of names into the UCC information management system: (a) Organization names are entered in the field designated for an organization name exactly as set forth in the financing statement, even if it appears that multiple names are set forth in the document or if it appears that the name of an individual has been included in the field designated for an organization name. (b) Individual names are entered into the first personal name, additional name or names or initial or initials, and surname and suffix fields exactly as set forth on the financing statement.