29-603

29-603. Reservation of name

A. The exclusive right to use a name may be reserved by:

1. A person intending to organize a limited liability company under this chapter
and to adopt the name.

2. A domestic limited liability company or any foreign limited liability company
registered in this state that intends to adopt the name.

3. A foreign limited liability company intending to register in this state and to
adopt the name.

4. A person intending to organize a foreign limited liability company and to have
it registered in this state and to adopt the name.

B. The reservation shall be made by filing with the commission an application that
is executed by the applicant or an authorized agent of the applicant to reserve a
specified name. If the commission finds that the name is available for use by a domestic
or foreign limited liability company, it shall reserve the name for the exclusive use of
the applicant for a nonrenewable period of one hundred twenty days from and after the
date the application is filed with the commission.

C. The right to the exclusive use of a reserved name may be transferred to another
person by filing with the commission a notice of the transfer that is executed by the
applicant or an authorized agent of the applicant for whom the name was reserved and that
specifies the name to be transferred and the name and address of the transferee. The
transfer shall not extend the term during which the name is reserved.

D. The reservation of a specified name may be cancelled by filing with the
commission a notice of cancellation that is executed by the applicant or an authorized
agent of the applicant and that specifies the name reservation to be cancelled and the
name and address of the applicant.