AI-assisted research summary: Corporate names must not imply an unauthorized purpose or be too similar to certain existing names, unless an exception applies.
PART IV. NAMES (a) A corporate name shall not contain language stating or implying that the corporation is organized for a purpose other than that permitted by section 414D-51 and its articles of incorporation. (b) Except as authorized by subsections (c) and (d), a corporate name shall not be the same as or substantially identical to: (1) The name of any entity registered or authorized to transact business under the laws of this State; (2) A corporate name reserved or registered under section 414D-62 or 414-51, the exclusive right to which is reserved at the time in this State; (3) The fictitious name of a foreign business or nonprofit corporation authorized to transact business in this State because its real name is unavailable; or (4) Any trade name, trademark, or service mark registered in this State. (c) A corporation may apply to the department director for authorization to use a name that, based upon the department director's records, is substantially identical to one or more of the names described in subsection (b). The department director shall authorize the use of the name applied for if: (1) The other entity or holder of a reserved or registered name consents in writing to the use and registration of the name, and one or more words are added by the applicant to make the name distinguishable from the name on record; or (2) The applicant delivers to the department director a certified copy of a final judgment of a court of competent jurisdiction establishing the applicant's right to use the name applied for in this State. (d) A corporation may use the name (including the fictitious name) of another domestic or foreign business or nonprofit corporation that is used in this State if the other corporation is incorporated or authorized to do business in this State and the proposed user corporation: (1) Has merged with the other corporation; (2) Has been formed by reorganization of the other corporation; or (3) Has acquired all or substantially all of the assets, including the corporate name, of the other corporation. (e) This chapter shall not control the use of fictitious names. [L 2001, c 105, pt of §1; am L 2003, c 124, §26; am L 2012, c 58, §4]