6-117. Assumed business name; trade name; notification; definition

212 words·~1 min read·/az/title-6/6-117

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. Unless otherwise required by this title or rules adopted by the department, an enterprise or a consumer lender is not required to obtain a separate license when doing business under an assumed name or a trade name if the enterprise or consumer lender notifies the department in writing, on a form prescribed by the director, before using the assumed name or trade name.

B. A licensee may not use an assumed name or trade name that either:

1. Is so substantially similar to the assumed name or trade name of another department licensee that it may cause uncertainty or confusion among the public.

2. Tends to deceive or mislead the public as to the nature of business that the licensee conducts.

C. An individual may not use an assumed name or a trade name if the individual is licensed, certified or registered pursuant to either:

1. Chapter 9, article 4 of this title.

2. Title 32, chapter 36, article 2 or 4.

D. A person using an assumed name or a trade name shall notify the director within fifteen days after any material change to the information provided in subsection A of this section.

E. For the purposes of this section, "consumer lender" has the same meaning prescribed in section 6-601.