1. The exclusive right to the use of a partnership name otherwise permitted by section 45-13-04.1 may be reserved by any person. 2. The reservation is made by filing with the secretary of state a request that the name be reserved together with the fees provided in section 45-13-05. a. If the name is available for use by the applicant, the secretary of state shall reserve the name for the exclusive use of the applicant for a period of twelve months. b. The reservation may be renewed for successive twelve-month periods. 3. The right to the exclusive use of a partnership name reserved pursuant to this section may be transferred to another person by or on behalf of the applicant for whom the name was reserved by filing with the secretary of state a notice of the transfer and specifying the name and address of the transferee. 4. The right to the exclusive use of a partnership name reserved pursuant to this section may be canceled by or on behalf of the applicant for whom the name was reserved by filing with the secretary of state a notice of the cancellation. 5. The secretary of state may destroy any reserved name request and any index of reserved names one year after expiration.
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