1. (a)

   1. (1) The State Bank Department will accept a reservation for a bank corporate name only prior to and for the purpose of formation of a new state bank or prior to the consummation of an interstate merger transaction.
   2. (2) The reservation will be for a nonrenewable two hundred seventy-day period.
   3. (3) A name not used permanently prior to the expiration of this period will be cancelled.

2. (b)

   1. (1) Prior to filing a reservation of corporate name an applicant must request a current check of both state and federal trademark or service mark filings on the proposed name.

   2. (2) Evidence must accompany the application for reservation of corporate name verifying:

      1. (A) The applicant has made a trademark or service mark search; and
      2. (B) No trademark or service mark exists for the proposed name.

Codification Notes: This section was promulgated as Section 48-309.1 of the State Bank Department Rules prior to codification into the Code of Arkansas Rules. This section as promulgated prior to codification into the Code of Arkansas Rules provided as follows: "(Reference A.C.A § 23-48-309)"