79-29-105 - Reservation of name.
§ 79-29-105. Reservation of name.
(1) The exclusive right to the use of a name may be reserved by:
(a) A person intending to organize a limited liability company under this chapter and to adopt that name;
(b) A domestic limited liability company or any foreign limited liability company registered in this state which, in either case, intends to adopt that name;
(c) A foreign limited liability company intending to register in this state and adopt that name; and
(d) A person intending to organize a foreign limited liability company and intending to have it registered in this state and adopt that name.
(2) The reservation shall be made by delivering to the office of the Secretary of State for filing an application, signed by the applicant, to reserve a specified name. If the Secretary of State finds that the name is available for use by a domestic or foreign limited liability company, he shall reserve the name for the exclusive use of the applicant for a period of one hundred eighty (180) days. Once having so reserved a name, the same applicant may not again reserve the same name until more than sixty (60) days after the expiration of the last 180-day period for which that applicant reserved that name. The right to the exclusive use of a reserved name may be transferred to any other person by delivering to the office of the Secretary of State a notice of the transfer, signed by the applicant for whom the name was reserved and specifying the name and address of the transferee.
(3) The reservation of a specified name may be cancelled by delivering to the office of the Secretary of State a notice of cancellation, specifying the name reservation to be canceled and the name and address of the applicant or transferee.
Sources: Laws, 1994, ch. 402, § 5; Laws, 1997, ch. 418 § 27, eff from and after July 1, 1997.