1. A person may reserve the exclusive use of a corporate name, including a fictitious name for a foreign corporation whose corporate name is not available by delivering an application to the secretary of state for filing. Upon finding that the corporate name applied for isavailable, the secretary of state shall reserve the name for the applicant’s exclusive use for a nonrenewable one hundred twenty-day period. 2. Theownerof a reserved corporate name may transfer thereservation to another person by delivering to the secretary of state a signed notice of the transfer that states the name and address of the transferee.
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