N.M. Admin. Code § 12.3.1.15

Current through Register Vol. 35, No. 23, December 10, 2024

Section 12.3.1.15 - PROCEDURES FOR CHOOSING A NAME

Corporations and other regulated legal entities shall comply with statutory name requirements, and may use the procedures in this section for checking the availability of a name, reserving a name, or applying for a corporate or company name.

A. Informal inquiry about name availability. A corporation or other regulated legal entity may informally request, orally or in writing, that the bureau determine whether a proposed name is available. The bureau shall search its records to determine whether the proposed name is the same as, or confusingly similar to, the name of another corporation or other regulated entity previously on file, reserved, or registered with the commission.

B. Formal application for a name. The bureau shall not make a final determination of whether a proposed name is available until the corporation or other entity files with the bureau an application to reserve a specified name, articles of incorporation, an application for a certificate of authority, or other organizational documents.

C. Reserving a name. A corporation or other legal entity may file an application with the bureau to reserve a proposed name. If the bureau determines the name is available, it shall reserve the name for the corporation or other legal entity for one hundred twenty (120) days. An applicant may not extend the time period of a name reservation.

D. Registering a name. A foreign profit corporation may register its name by complying with NMSA 1978 Section 53-11-9, and may renew its name registration by meeting the requirements of NMSA 1978 Section 53-11-10.

E. Administrative revocation and reserving a name. If the commission administratively revokes a corporation or other legal entity, it shall reserve its name for the period allowed by law for reinstatement. If a corporation or other legal entity that has been administratively revoked applies for reinstatement in compliance with applicable requirements, the commission shall grant reinstatement and restore the entity's exclusive right to its name.

F. Waiver of right to a name. A corporation or other legal entity may waive its right to its name by filing a statement with the commission that the entity waives its exclusive right to its name. Once the commission receives such a waiver, it may release the name of the corporation or other legal entity for use by another. If the original corporation or other legal entity then wants to reinstate, it must do so under another name.

N.M. Admin. Code § 12.3.1.15

12.3.1.15 NMAC - N, 7-15-05