§ 7-1-130 — Permissible names

(a) The name of a financial institution shall not contain the words "Government," "Official," "Federal," "National," or "United States" or any abbreviation of any such words and shall not in the opinion of the department: (1) Be indistinguishable from the corporate name of another financial institution conducting a banking business in this state as reflected in the records of the department; or (2) Contain any word which may lead to the conclusion that the financial institution is authorized to perform any act or conduct any business which it is unauthorized or forbidden to perform by law, its articles, or otherwise. (b) A financial institution may, without regard to subsection (a) of this Code section, use: (1) Its name in use on April 1, 1975; (2) A name in use on April 1, 1975, by another financial institution which is adopted by: (A) A financial institution which is the resulting institution in a plan of merger or consolidation to which the institution using the name is a party; or (B) A financial institution which is incorporated under this chapter in pursuance of a plan of segregating the banking business and the trust business of the institution using the name; or (3) A name of another financial institution already transacting business with the consent of the latter institution, provided that the names are distinguishable in the records of the Secretary of State.