13.1-631 - Reserved name. - Virginia Statutes

§ 13.1-631. Reserved name.

A. A person may apply to the Commission to reserve the exclusive use of acorporate name, including a designated name for a foreign corporation whosecorporate name is not available. If the Commission finds that the corporatename applied for is available, it shall reserve the name for the applicant'sexclusive use for a 120-day period.

B. The owner of a reserved corporate 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 corporate name may transfer the reservation toanother 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.

(Code 1950, § 13.1-7; 1956, c. 428; 1985, c. 522; 2005, c. 765.)