1. (a) The exclusive right to the use of an entity name may be reserved by:

   1. (1) Any person intending to organize a covered entity under the laws of this state;
   2. (2) any domestic covered entity intending to change its name;
   3. (3) any foreign covered entity intending to make application for a certificate of authority to transact business in this state;
   4. (4) any foreign covered entity authorized to transact business in this state, and intending to change its name; and
   5. (5) any person intending to organize a foreign covered entity, and intending to have such entity make application for a certificate of authority to transact business in this state.
2. (b) The reservation shall be made by filing with the secretary of state an application to reserve a specific covered entity name, executed by the applicant. The reservation may be filed by telefacsimile communication as prescribed by K.S.A. 2019 Supp. 17-7914, and amendments thereto. If the secretary of state finds that the name is available, the secretary of state shall reserve the same for the exclusive use of the applicant for a period of 120 days.
3. (c) The right to exclusive use of a specified entity name, reserved pursuant to this section, may be transferred to any other person or covered entity by filing in the office of the secretary of state, a notice of such transfer, executed by the applicant for whom the name was reserved, and specifying the name and address of the transferee.
4. (d) This section shall take effect on and after January 1, 2015.

L. 2014, ch. 121, § 23; July 1.