13.1-1215 - Reserved name. - Virginia Statutes

§ 13.1-1215. Reserved name.

A. A person may apply to the Commission to reserve the exclusive use of abusiness trust name, including the designated name for a foreign businesstrust whose business trust name is not available for use in thisCommonwealth. If the Commission finds that the business trust name appliedfor is available, it shall reserve the name for the applicant's exclusive usefor a 120-day period.

B. The owner of a reserved business trust name may renew the reservation forsuccessive periods of 120 days each by filing with the Commission, during the45-day period preceding the date of expiration of the reservation, a renewalapplication.

C. The owner of a reserved business trust name may transfer the reservationto another person by delivering to the Commission a notice of the transfer,executed by the applicant for whom the name was reserved, and specifying thename and address of the transferee.

(2002, c. 621; 2006, c. 505.)