CA AB1858

Revises requirements for financing statement names for individual debtors: statements must include the name shown on an unexpired driver's license or identification card issued by the Department of Motor Vehicles; if no such license or card exists, the individual name or surname and first personal name of the debtor is sufficient.

Makes it a violation of the Unruh Civil Rights Act for a secured party to decline credit or offer less favorable terms to a debtor based solely on the debtor lacking an unexpired driver's license or identification card when determining the name for the financing statement.

Implements transitional provisions effective January 1, 2015, allowing previously filed financing statements to remain effective without modification, though continuation statements filed after that date must comply with the new naming requirements.

Establishes that security interests perfected before January 1, 2015, remain perfected if they satisfy the new requirements as of that date, and unperfected interests may become perfected either automatically or upon meeting the amended requirements.

Allows authorized persons to file initial or continuation statements to continue effectiveness of pre-2015 financing statements or perfect security interests under the new provisions.