§449-1.6 - Name of escrow depository.
[§449-1.6] Name of escrow depository.
The name of every escrow depository licensed to engage in business in this
State shall be subject to the approval of the commissioner, and shall have the
following characteristics:
(1) It shall be unique;
(2) It shall not be confusing or likely to mislead
the public into believing that the escrow depository is related to or part of
another company, if it is not so related;
(3) It shall contain the words "escrow" or
"escrow depository"; and
(4) It may but need not contain the words
"Corporation", "Incorporated", "Corp.",
"Inc.", "Limited" or "Ltd.".
This section shall not apply to escrow
depositories which were licensed on January 1, 1992. Where an escrow
depository that is not required to comply with this section is subsequently
sold or acquired, the commissioner may require the acquired company to comply
with this section. [L 1992, c 205, pt of §1]