§ 7-6-11.1 - Reservation of name – Transfer of reserved name.
SECTION 7-6-11.1
§ 7-6-11.1 Reservation of name –Transfer of reserved name. – (a) The exclusive right to use a specified name for a domestic or foreignnonprofit corporation may be reserved by:
(1) A person who intends to organize a domestic nonprofitcorporation;
(2) A domestic nonprofit corporation or foreign nonprofitcorporation authorized to conduct affairs in this state which, in either case,proposes to change its name;
(3) A foreign nonprofit corporation which intends to makeapplications for a certificate of authority to conduct affairs in this state; or
(4) Any person intending to organize a foreign nonprofitcorporation and intending to have it registered in this state and adopt thatname.
(b) A person may reserve a specified name by filing a signedapplication with the secretary of state accompanied by a fee of twenty dollars($20.00) and, if the secretary of state finds that the name is available, thesecretary of state shall reserve the name for one hundred twenty (120) days forthe exclusive use of the applicant.
(c) The exclusive right to use a reserved name may betransferred to another person by filing with the secretary of state a notice ofthe transfer, specifying the name and address of the transferee and signed bythe applicant for whom the name was reserved.