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The Vermont Statutes Online



Title

11

:
Corporations, Partnerships and Associations






Chapter

023

:
LIMITED PARTNERSHIPS






Subchapter

001
:
GENERAL PROVISIONS










 

§

3403. Reservation of name

(a) The

exclusive right to the use of a name may be reserved by:

(1) any person

intending to organize a limited partnership under this chapter and to adopt

that name;

(2) any domestic

limited partnership or any foreign limited partnership registered in this state

which, in either case, intends to adopt that name;

(3) any foreign

limited partnership intending to register in this state and adopt that name;

and

(4) any person

intending to organize a foreign limited partnership and intending to have it

registered in this state and to adopt that name.

(b) The

reservation shall be made by filing with the secretary of state an application,

executed by the applicant, to reserve a specified name. If the secretary of

state finds that the name is available for use by a domestic or foreign limited

partnership, he or she shall reserve the name for the exclusive use of the

applicant for a period of 120 days. The owner of a name reserved under this

section may renew the reservation for two successive periods of 120 days each.

The right to the exclusive use of a reserved name may be transferred to any

other person by filing in the office of the secretary of state a notice of the

transfer, executed by the applicant for whom the name was reserved and

specifying the name and address of the transferee. (Added 1997, No. 149 (Adj.

Sess.), § 4, eff. Jan. 1, 1999.)