13.1-1013 - Reserved name. - Virginia Statutes

§ 13.1-1013. Reserved name.

A. A person may apply to the Commission to reserve the exclusive use of alimited liability company name, including the designated name for a foreignlimited liability company whose limited liability company name is notavailable for use in this Commonwealth. If the Commission finds that thelimited liability company name applied for is available, it shall reserve thename for the applicant's exclusive use for a 120-day period.

B. The owner of a reserved limited liability company name may renew thereservation for successive periods of 120 days each by filing with theCommission, during the 45-day period preceding the date of expiration of thereservation, a renewal application.

C. The owner of a reserved limited liability company name may transfer thereservation to another person by delivering to the Commission a notice of thetransfer, executed by the applicant for whom the name was reserved, andspecifying the name and address of the transferee.

(1991, c. 168; 2006, c. 505.)