16-16-112 - Reservation of name.
16-16-112. Reservation of name.
(1) A person may reserve the exclusive use of the name of a limited cooperativeassociation, including a fictitious name for a foreign cooperative whose name is not availableunder Section 16-16-111, by delivering an application to the division for filing. The applicationshall set forth the name and address of the applicant and the name proposed to be reserved. If thedivision finds that the name applied for is available under Section 16-16-111, the division shallreserve the name for the applicant's exclusive use for a nonrenewable period of 120 days.
(2) A person that has reserved a name for a limited cooperative association may transferthe reservation to another person by delivering to the division a signed notice of the transferwhich states the name, street address, and, if different, the mailing address of the transferee. Ifthe person is an organizer of the association and the name of the association is the same as thereserved name, the delivery of articles of organization for filing by the division is a transfer bythe person to the association.
Amended by Chapter 378, 2010 General Session