We have a UCC filing in individual's name that is coming up for continuation. While reviewing the existing driver's license on file from 5 years ago, I discovered that the individual's name on the driver's license differed from the name we filed our UCC under. We've received a current copy of the driver's license and again, the name differs.

At this point, should we file a new UCC under the correct legal name or can we simply amend the original UCC, even though the legal name was incorrect from the very beginning?

I always thought that filing new or filing amendment - doesn't matter. Either goes into affect the time/date recorded.

I would consider the amendment with both names, something like John Jones, also known as Hubba Bubba. If there is an intervening filing, you could lose position with a new filing when the existing matures.

You would lose to an intervening lien with the amendment too, Rocky, right? That amendment is only effective as of the filing date - it doesn't assume the filing date of the original UCC. So, you'd always want to do a thorough UCC search to make sure there are no intervening liens.