§ 5122. — 5122. (Amended by Stats. 2022, Ch. 617, Sec. 46.)

California § 5122.

• Jurisdiction: California
• Code CORP: Corporations Code - CORP
• Div.: 2.
• Title 1.: DIVISION 2. NONPROFIT CORPORATION LAW
• Part 2.: PART 2. NONPROFIT PUBLIC BENEFIT CORPORATIONS
• Ch. 1.: CHAPTER 1. Organization and Bylaws
• Art. 2.: ARTICLE 2. Formation

Text

(a)
The Secretary of State shall not file articles setting forth a name in which “bank,” “trust,” “trustee,” or related words appear, unless the certificate of approval of the Commissioner of Financial Protection and Innovation is attached thereto.
(b)
The name of a corporation shall not be a name that the Secretary of State determines is likely to mislead the public and shall be distinguishable in the records of the Secretary of State from all of the following:
(1)
The name of any corporation.
(2)
The name of any foreign corporation authorized to transact intrastate
business in this state.
(3)
Each name that is under reservation pursuant to this title.
(4)
The name of a foreign corporation that has registered its name pursuant to Section 2101.
(5)
An alternate name of a foreign corporation under subdivision (b) of Section 2106.
(6)
A name that will become the record name of a domestic or foreign corporation upon a corporate instrument when there is a delayed effective or file date.
(c)
The use by a corporation of a name in violation of this section may be enjoined notwithstanding the filing of its articles by the Secretary of State.
(d)
Any applicant may, upon payment of the fee prescribed therefor in the Government Code, obtain from the Secretary of State a certificate of reservation of any name not prohibited by subdivision (b), and upon the issuance of the certificate the name stated therein shall be reserved for a period of 60 days. The Secretary of State shall not, however, issue certificates reserving the same name for two or more consecutive 60-day periods to the same applicant or for the use or benefit of the same person; nor shall consecutive reservations be made by or for the use or benefit of the same person of names so similar as to fall within the prohibitions of subdivision (b).

Legislative History

Amended by Stats. 2022, Ch. 617, Sec. 46. (SB 1202) Effective January 1, 2023.