12-206.
(A) EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION (B) OF THIS SECTION,
THE NAME OF EACH BUSINESS TRUST AS SET FORTH IN ITS CERTIFICATE OF TRUST
MUST BE A NAME THAT DISTINGUISHES IT ON THE RECORDS OF THE DEPARTMENT
FROM THE NAME OF ANY OTHER BUSINESS TRUST OR OTHER BUSINESS ENTITY
RESERVED, REGISTERED, FORMED, OR ORGANIZED UNDER THE LAWS OF THE STATE
OR QUALIFIED TO DO BUSINESS OR REGISTERED AS A FOREIGN CORPORATION,
FOREIGN LIMITED PARTNERSHIP, OR FOREIGN LIMITED LIABILITY COMPANY IN THE
STATE.
(B) (1) SUBJECT TO THE PROVISIONS OF PARAGRAPH (2) OF THIS
SUBSECTION, A BUSINESS TRUST MAY REGISTER UNDER ANY NAME WHICH DOES
NOT DISTINGUISH IT ON THE RECORDS OF THE DEPARTMENT FROM THE NAME OF
ANY DOMESTIC OR FOREIGN CORPORATION, LIMITED PARTNERSHIP, REAL ESTATE
INVESTMENT TRUST, BUSINESS TRUST, OR LIMITED LIABILITY COMPANY RESERVED,
REGISTERED, FORMED, OR ORGANIZED UNDER THE LAWS OF THIS STATE WITH THE
WRITTEN CONSENT OF THE OTHER CORPORATION, LIMITED PARTNERSHIP,
BUSINESS TRUST, REAL ESTATE INVESTMENT TRUST, OR LIMITED LIABILITY
COMPANY.
(2) THE WRITTEN CONSENT PROVIDED UNDER PARAGRAPH (1) OF THIS
SUBSECTION SHALL BE FILED WITH THE DEPARTMENT.
(C) THE NAME OF EACH BUSINESS TRUST, AS SET FORTH IN ITS CERTIFICATE
OF TRUST, MAY CONTAIN THE FOLLOWING WORDS OR ABBREVIATIONS OF THE
FOLLOWING WORDS; "COMPANY", "ASSOCIATION", "CLUB", "FOUNDATION", "FUND",
"INSTITUTE", "SOCIETY", "UNION", "SYNDICATE", "LIMITED", OR "TRUST".
(D) THE EXCLUSIVE RIGHT TO THE USE OF A NAME MAY BE RESERVED BY;
(1) ANY PERSON INTENDING TO FORM A BUSINESS TRUST AND TO
ADOPT THAT NAME; AND
(2) ANY BUSINESS TRUST REGISTERED IN THIS STATE THAT PROPOSES
TO CHANCE ITS NAME.
(E) (1) THE RESERVATION OF A SPECIFIED NAME SHALL BE MADE BY
FILING AN APPLICATION WITH THE DEPARTMENT.
(2) IF THE DEPARTMENT FINDS THAT THE NAME IS AVAILABLE FOR USE
BY A BUSINESS TRUST, THE DEPARTMENT SHALL RESERVE THE NAME FOR THE
EXCLUSIVE USE OF THE APPLICANT FOR A PERIOD OF 30 DAYS.
(3) IF AN APPLICANT HAS RESERVED A NAME, THE APPLICANT MAY
AGAIN RESERVE THE SAME NAME FOR SUCCESSIVE 30 DAY PERIODS.
(F) THE RIGHT TO THE EXCLUSIVE USE OF A RESERVED NAME MAY BE
TRANSFERRED TO ANY OTHER PERSON BY FILING WITH THE DEPARTMENT A NOTICE
OF THE TRANSFER WHICH SPECIFIES THE NAME AND ADDRESS OF THE TRANSFEREE
AND IS EXECUTED BY THE APPLICANT FOR WHOM THE NAME WAS RESERVED.
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