16-10a-402 - Reserved name.
16-10a-402. Reserved name.
(1) Any person may apply for the reservation of a name by delivering to the division forfiling an application setting forth the name and address of the applicant and the name proposed tobe reserved. If the division finds that the name applied for would be available for use as acorporate name under Section 16-10a-401, the division shall reserve the name for the applicantfor a 120-day period. Any person which has in effect a reservation of a name permitted by thisSubsection may renew the reservation by delivering to the division for filing prior to expiration ofthe reservation a renewal application for reservation, which complies with the requirements of thisSubsection (1). When filed, the renewal application for reservation renews the reservation for aperiod of 120 days from the date of filing.
(2) The applicant for a reserved name may transfer the reservation to another person bydelivering to the division a notice of the transfer signed by the applicant for which the name wasreserved and specifying the reserved name, the name of the holder of the name, and the name andaddress of the transferee.
(3) A name reservation does not authorize the applicant to use the name until:
(a) the name is registered as a trade name under Section 42-2-5;
(b) articles of incorporation which bear the name are filed with the division; or
(c) an application for authority to transact business in this state under the name has beenfiled with the division pursuant to Part 15 of this chapter.
Enacted by Chapter 277, 1992 General Session