Name—Reservation of exclusive right—Filing. (Effective until January 1, 2016.)
(1) The exclusive right to the use of a name may be reserved by:
(a) A person intending to organize a limited liability partnership under this chapter and to adopt that name;
(b) A domestic or foreign limited liability partnership registered in this state which intends to adopt that name;
(c) A foreign limited liability partnership intending to register in this state and to adopt that name; and
(d) A person intending to organize a foreign limited liability partnership and intending to have it registered in this state and adopt that name.
(2) The reservation shall be made by filing with the secretary of state an application, executed by the applicant, to reserve a specified name, accompanied by a fee established by the secretary of state by rule. If the secretary of state finds that the name is available for use by a domestic or foreign limited liability partnership, the secretary of state shall reserve the name for the exclusive use of the applicant for a period of one hundred eighty days. The reservation is limited to one filing and is nonrenewable.
A person or partnership may transfer the right to the exclusive use of a reserved name to any other person by filing in the office of the secretary of state a notice of the transfer, executed by the applicant for whom the name was reserved and specifying the name and address of the transferee.
[1998 c 102 § 7.]