[§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]
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