§ 13.1-1215. Reserved name
A. A person may apply to the Commission to reserve the exclusive use of a business trust name, including the designated name for a foreign business trust whose business trust name is not available for use in this Commonwealth. If the Commission finds that the business trust name applied for is available, it shall reserve the name for the applicant's exclusive use for a 120-day period.
B. The owner of a reserved business trust name may renew the reservation for successive periods of 120 days each by filing with the Commission, during the 45-day period preceding the date of expiration of the reservation, a renewal application.
C. The owner of a reserved business trust name may transfer the reservation to another person by delivering to the Commission a notice of the transfer, executed by the applicant for whom the name was reserved, and specifying the name and address of the transferee.
(2002, c. 621; 2006, c. 505.)
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