1. A. The exclusive right to the use of a corporate name may be reserved by:

   1. (1) any person intending to organize a corporation under the Business Corporation Act;
   2. (2) any domestic corporation intending to change its name;
   3. (3) any foreign corporation intending to make application for a certificate of authority to transact business in this state;
   4. (4) any foreign corporation authorized to transact business in this state and intending to change its name; or
   5. (5) any person intending to organize a foreign corporation and intending to have such corporation make application for a certificate of authority to transact business in this state.
2. B. The reservation shall be made by filing with the commission [secretary of state] an application to reserve a specified corporate name, executed by the applicant. If the commission [secretary of state] finds that the name is available for corporate use, it shall reserve the name for the exclusive use of the applicant for a period of one hundred and twenty days.
3. C. The right to the exclusive use of a specified corporate name so reserved may be transferred to any other person or corporation by filing in the office of the commission [secretary of state] a notice of transfer, executed by the applicant for whom the name was reserved, and specifying the name and address of the transferee.

History: 1953 Comp., § 51-24-8, enacted by Laws 1967, ch. 81, § 8.

ANNOTATIONS

Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.

Laws 2013, ch. 75, § 9 provided that as of July 1, 2013, the secretary of state, pursuant to N.M. const., Art. 11, § 19, shall assume responsibility for chartering corporations as provided by law, including the performance of the functions of the former corporations bureau of the public regulation commission, and that except for Subsection D of 53-5-8 NMSA 1978, references to the "public regulation commission", "state corporation commission" or "commission" shall be construed to be references to the secretary of state. See 8-4-7 NMSA 1978.

Compiler's notes. — This section is derived from Section 9 of the ABA Model Business Corporation Act.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 18A Am. Jur. 2d Corporations §§ 289 to 293.

Right to protection of corporate name as between domestic corporation and foreign corporation not qualified to do business in state, 26 A.L.R.3d 994.

Protection of business or trading corporation against use of same or similar name by another corporation, 72 A.L.R.3d 8.