13.1-1214 - Name.
§ 13.1-1214. Name.
A. The name of each business trust, as set forth in its articles of trust,may contain the following words: "company," "association," "club,""foundation," "fund," "institute," "society," "union,""syndicate," or "trust," or abbreviations of like import.
B. A business trust name shall not contain:
1. The words or phrases "corporation," "professional corporation,""incorporated," "limited company," "limited liability company,""professional limited liability company," "limited partnership,""registered limited liability partnership," "limited liabilitypartnership," "registered limited liability limited partnership,""limited liability limited partnership," "trust company," or theabbreviations "Corp.," "Inc.," "L.C.," "LC," "L.L.C.," "LLC,""P.C.," "PC," "P.L.C.," "PLC," "P.L.L.C.," "PLLC," "L.P.,""LP," "R.L.L.P.," "RLLP," "L.L.P.," "LLP," "R.L.L.L.P.,""RLLLP," "L.L.L.P.," or "LLLP"; or
2. Any word or phrase the use of which is prohibited by law for such businesstrust.
C. Except as authorized by subsection D, a business trust name shall bedistinguishable upon the records of the Commission from:
1. The name of a domestic business trust or a foreign business trustregistered to transact business in this Commonwealth;
2. A business trust name reserved under § 13.1-1215;
3. The designated name adopted by a foreign business trust because its realname is unavailable for use in this Commonwealth;
4. The name of any corporation, whether issuing shares or not issuing shares,existing under the laws of this Commonwealth or authorized to transactbusiness in this Commonwealth;
5. A corporate name reserved or registered under § 13.1-631, 13.1-632,13.1-830 or 13.1-831;
6. The designated name adopted by a foreign corporation, whether issuingshares or not issuing shares, because its real name is unavailable for use inthis Commonwealth;
7. The name of a domestic limited liability company or a foreign limitedliability company registered to transact business in this Commonwealth;
8. A limited liability company name reserved under § 13.1-1013;
9. The designated name adopted by a foreign limited liability company becauseits real name is unavailable for use in this Commonwealth;
10. The name of a domestic limited partnership or a foreign limitedpartnership registered to transact business in this Commonwealth;
11. A limited partnership name reserved under § 50-73.3; and
12. The designated name adopted by a foreign limited partnership because itsreal name is unavailable for use in this Commonwealth.
D. A domestic business trust may apply to the Commission for authorization touse a name that is not distinguishable upon its records from one or more ofthe names described in subsection C. The Commission shall authorize use ofthe name applied for if the other domestic or foreign business trust or otherbusiness entity consents to the use in writing and submits an undertaking inform satisfactory to the Commission to change its name to a name that isdistinguishable upon the records of the Commission from the name of theapplying business trust.
E. The use of assumed names or fictitious names, as provided for in Chapter 5(§ 59.1-69 et seq.) of Title 59.1, is not affected by this chapter.
F. The Commission, in determining whether a business trust name isdistinguishable upon its records from the name of any of the businessentities listed in subsection C, shall not consider any word, phrase,abbreviation, or designation required or permitted under § 13.1-544.1,subsection A of § 13.1-630, subsection A of § 13.1-1012, § 13.1-1104,subdivision 1 of § 50-73.2, and subdivision A 2 of § 50-73.78 to be containedin the name of a business entity formed or organized under the laws of thisCommonwealth or authorized or registered to transact business in thisCommonwealth.
(2002, c. 621; 2003, cc. 373, 592; 2005, c. 379.)