Section 450.1215 - Corporate name; reservation of right to use; transfer of right.
BUSINESS CORPORATION ACT (EXCERPT)
Act 284 of 1972
450.1215 Corporate name; reservation of right to use; transfer of right.
Sec. 215.
(1) A person may reserve the right to use of a corporate name by executing and filing an application to reserve the name. If the administrator finds that the name is available for corporate use, he or she shall reserve it for exclusive use of the applicant for a period expiring at the end of the sixth full calendar month following the month in which the application was filed.
(2) The right to exclusive use of a reserved corporate name may be transferred to another person by filing a notice of the transfer, executed by the applicant for whom the name was reserved, and stating the name and address of the transferee.
History: 1972, Act 284, Eff. Jan. 1, 1973 ;-- Am. 1993, Act 91, Eff. Oct. 1, 1993