PART V. 
NAME



 



§414-51  Corporate name.  (a)  A
corporate name:



(1)  Must contain the word "corporation",
"incorporated", or "limited", or the abbreviation
"corp.", "inc.", or "ltd."; and



(2)  May not contain language stating or implying that
the corporation is organized for a purpose other than that permitted by section
414-41 and its articles of incorporation.



(b)  Except as authorized by subsections (c)
and (d), a corporate name may not be the same as or substantially identical to:



(1)  The name of any entity registered or authorized
to transact business or conduct affairs under the laws of this State;



(2)  A name the exclusive right to which is, at the
time, reserved in this State;



(3)  The fictitious name adopted by a foreign
corporation authorized to transact business in this State because its real name
is unavailable; and



(4)  Any trade name, trademark, or service mark
registered in this State.



(c)  A corporation may apply to the department
director for authorization to use a name that is substantially identical, based
upon the department director's records to one or more of the names described in
subsection (b).  The department director shall authorize use of the name
applied for if:



(1)  The other entity or holder of a reserved or
registered name consents to the use in writing and one or more words are added
to make the name distinguishable from the name of the applying corporation; or



(2)  The applicant delivers to the department director
a certified copy of the final judgment of a court of competent jurisdiction
establishing the applicant's right to use the name applied for in this State.



(d)  A corporation may use the name (including
the fictitious name) of another domestic or foreign corporation that is used in
this State if the other corporation is incorporated or authorized to transact
business in this State and the proposed user corporation:



(1)  Has merged with the other corporation;



(2)  Has been formed by reorganization of the other
corporation; or



(3)  Has acquired all or substantially all of the
assets, including the corporate name, of the other corporation.



(e)  This chapter does not control the use of
fictitious names. [L 2000, c 244, pt of §1; am L 2001, c 129, §13]