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Maximilian M. Miltzlaf signed a security agreement to put up his art collection as collateral and got a loan from Slippup Bank. Slippup Bank filed a UCC financing statement, but misspelled the debtor's name as"Maximilian M. Milztlaf." A search of the state's UCC records using its standard search logic under the debtor's correct name does not disclose the financing statement. Is the financing statement effective? a) Yes. Even though the debtor's name was slightly misspelled, it was not seriously misleading.b) No. The error is deemed seriously misleading, because a search using the correct name does not disclose the statement filed with the incorrect name.c) It depends on whether other creditors had been misled by the inaccurate filing.d) It depends on whether a search with the incorrect name would dis. close the financing statement filed under the correct name.e) Yes, as long as the collateral is described correctly. The debtor's name is not important.
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