Sec. 4.10. Reserved name.
306 words·~1 min read·
/il/chapter-805/act-5/4-10A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 4.10. Reserved name. The exclusive right to the use of a corporate name or an assumed corporate name, as the case may be, may be reserved by:
(a)Any person intending to organize a corporation under this Act.
(b)Any domestic corporation intending to change its name.
(c)Any foreign corporation intending to make application for authority to transact business in this State.
(d)Any foreign corporation authorized to transact business in this State and intending to change its name.
(e)Any person intending to organize a foreign corporation and intending to have such corporation make application for authority to transact business in this State.
(f)Any domestic corporation intending to adopt an assumed corporate name.
(g)Any foreign corporation authorized to transact business in this State and intending to adopt an assumed corporate name.
Such reservation shall be made by filing in the office of the Secretary of State an application to reserve a specified corporate name or a specified assumed corporate name, executed by the applicant. If the Secretary of State finds that such name is available for corporate use, he or she shall reserve the same for the exclusive use of such applicant for a period of ninety days or until surrendered by a written cancellation document signed by the applicant, whichever is sooner.
The right to the exclusive use of a specified corporate name or assumed corporate name so reserved may be transferred to any other person by filing in the office of the Secretary of State a notice of such transfer, executed by the person for whom such name was reserved, and specifying the name and address of the transferee.
The Secretary of State may revoke any reservation if, after a hearing, he or she finds that the application therefor or any transfer thereof was made contrary to this Act.