§ 7-6-11.1. Reservation of name - Transfer of reserved name. (a) The exclusive right to use a specified name for a domestic or foreign nonprofit corporation may be reserved by:
(1) A person who intends to organize a domestic nonprofit corporation;
(2) A domestic nonprofit corporation or foreign nonprofit corporation authorized to conduct affairs in this state that, in either case, proposes to change its name;
(3) A foreign nonprofit corporation that intends to make applications for a certificate of authority to conduct affairs in this state; or
(4) Any person intending to organize a foreign nonprofit corporation and intending to have it registered in this state and adopt that name.
(b) A person may reserve a specified name by filing a signed application with the secretary of state accompanied by a fee of twenty dollars ($20.00) and, if the secretary of state finds that the name is available, the secretary of state shall reserve the name for one hundred twenty (120) days for the exclusive use of the applicant.
(c) The exclusive right to use a reserved name may be transferred to another person by filing with the secretary of state a notice of the transfer, specifying the name and address of the transferee and signed by the applicant for whom the name was reserved.
History of Section. (P.L. 1997, ch. 188, § 3.)
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