NAC104.315. Use of name of trust or settlor.

     1. If a name is specified for a trust in its organic documents, the full legal name of the trust as set forth in those documents must be used in a UCC document and the trust will be treated as an organization. If a trust is not so named, the name of the settlor must be used. If the settlor is an organization, the name will be treated as an organization name. If the settlor is an individual, the name will be treated as an individual name.

     2. A UCC document that uses the name of the settlor must 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 must indicate the nature of the debtor. If this is done in, or as part of, the name of the debtor, it will be entered in the information management system as if it were a part of the name.

     (Added to NAC by Sec’y of State by R084-01, eff. 10-30-2001)