§ 3006 - Reserved name - Vermont Statutes

§ 3006. Reserved name

(a) The exclusive right to the use of a name may be reserved by any:

(1) person intending to organize a limited liability company under this chapter and to adopt the name;

(2) domestic or foreign limited liability company registered in this state which intends to adopt the name;

(3) foreign limited liability company intending to register in this state and adopt the name; or

(4) person intending to organize a foreign limited liability company, register it in this state, and adopt the name.

(b) The reservation shall be made by filing with the secretary of state an application, executed by the applicant, to reserve a specified name. If the secretary of state determines that the name is available for use by a domestic or foreign limited liability company, the secretary shall reserve the name for the exclusive use of the applicant for a period of 120 days.

(c) The owner of a name reserved under this section may renew the reservation for two successive periods of 120 days each.

(d) The right to the exclusive use of a reserved name may be transferred to any other person by filing with 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. (Added 1995, No. 179 (Adj. Sess.), § 4.)