§425-8  Reservation of partnership name. The exclusive right to the use of a partnership name may be reserved by anyperson intending to organize a domestic partnership, by any domesticpartnership intending to change its name, by any foreign partnership intendingto do or carry on any business in the State or to take, hold, sell, demise, orconvey real estate or other property therein, by any foreign partnershipauthorized to do or carry on any business in the State or to take, hold, sell,demise, or convey real estate or other property therein and intending to changeits name, or by any person intending to organize a foreign partnership andintending to have the partnership to do or carry on any business in the Stateor to take, hold, sell, demise, or convey real estate or other propertytherein.  Reservations shall be made by filing with the director of commerceand consumer affairs an application in such form as the director may prescribeto reserve a specified partnership name, and payment to the director of a feeequivalent to that paid by a corporation for the same service.  If the directorfinds that the name is available for partnership use, the director shallreserve the name for the exclusive use of the applicant for a period of onehundred twenty days.  The right to the exclusive use of a specified partnershipname so reserved may be transferred to any other person or partnership byfiling in the office of the director a notice of a transfer executed by theapplicant for whom the name is reserved specifying the name and address of thetransferee. [L 1969, c 247, pt of §1; am L 1980, c 270, §3; am L 1982, c 204,§8; am L 1983, c 124, §17; gen ch 1985; am L 1989, c 288, §2]