Assumed name records can be a rich source of information for a judgment creditor. But, judgment creditors routinely overlook assumed name records in their search for judgment debtors and their assets.
Who Must File An Assumed Name Certificate?
In Texas, any individual who does business under a name that does not include his own surname must file an assumed name certificate. Others who must file include:
1. Any individual whose business name suggests that there are others who own the business with him. For example, if the business uses “Company,” “and Company,” or “and Sons,” it must file an assumed name certificate.
2. Any partnership whose name does not include the surname of each partner.
3. Any Corporation, L.P. or L.L.C. that is doing business under a name other than the one in its official creation documents filed with the Secretary of State (i.e., Articles of Incorporation or Articles of Formation).
Where Do You Find Assumed Name Records?
Corporations, limited partnerships and limited liability companies must file their assumed name certificates with the Secretary of State in Austin. The certificate must also be filed in the county where the company maintains a registered agent.
All other businesses must file their assumed name certificates in each county in Texas where they do business.
What Can You Expect to Find in Assumed Name Records?
Assumed name records will generally give you the name and address of the owner of the business. So, if your judgment debtor business has more than one owner you’ll get that information from these records. Those co-owners may be liable for the payment of your judgment.
You can do what is known as a “reverse index search” on the owners name in the assumed name records. This search reveals any other businesses your judgment debtor may own or co-own. Those additional businesses may provide sufficient resources for the collection of your judgment.
Conclusion
As a judgment creditor, you owe it to yourself to check the assumed name records for your judgment debtor. The information you find just may be the breakthrough you need to collect your Texas judgment.
