bcgov / ppr-deprecated

deprecated-Personal Property Registry
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Entering Business Debtor Names #789

Open sandrajoandaniel opened 4 years ago

sandrajoandaniel commented 4 years ago

Entering Business Debtor Names

(i) In all cases where regulation dictates that a business name is to be truncated, the system will ALLOW entries that exceed the regulation limits but the DISPLAY, SEARCH, and PRINT functions will TRUNCATE the business name as follows:

(1)     The first 70 characters of the business name.

Required:

(i) If the debtor is a corporation. the corporation's legal name is to be entered. (ii) If the debtor is an estate of a deceased individual. the deceased's name is to be entered followed by the word "estate". (iii) If the debtor is a trustee acting for a trust. (1) if the document creating the trust designates the name of the trust. that name is to be entered followed by the word "trust". (2) if the document creating the trust does not designate the name of the trust, the name of at least one of the trustees is to be entered followed by the word "trustee".

(iv) If the debtor is a trustee acting for an estate of a bankrupt. the bankrupt's name is to be entered followed by the word "bankrupt".

(v) If the debtor is a trade union (1) The name of the trade union is to be entered. (2) The name of each person representing the trade union in the transaction giving rise to the registration is to be entered and. for each of those representatives who is an individual. that individual's full mailing address is to be entered.

(vi) If the debtor is a partnership -ONE OF- (1) In the case of a partnership that is registered under the Partnership Act. the registered name of the partnership is to be entered. (2) In the case of any other partnership. the name of the partnership is to be entered along with the name of at least one of the partners and. for each named partner who is an individual. that individual's full mailing address.

(vii) If the debtor is a syndicate or joint venture that is not a corporation (a GROUP) (1) The name of the syndicate or joint venture (2) The name of each party to or participant in it and their mailing address

(viii) If the debtor is an artificial body (an ENTITY) (1) The name of the artificial body. (2) The name of each person representing the artificial body with full mailing addresses

(ix) The names of individuals added to registration records in the debtor type of GROUP must have signing / legal binding authority

(x) If the debtor's business title has more than one form in English and French (an English business name and a French business name) then both names have to be entered as debtors

(xi) The following business type abbreviations are permitted:

Ltd Limited Ltee Limitee Inc Incorporated. Incorporee Corp Corporation NPL Non-Personal Liability