(805 ILCS 180/1-15)
Reservation of name.
(a) The exclusive right to the use of a name may be
reserved by any of the following:
(1) A person intending to organize a limited
liability company under this Act which will have that name.
(2) A limited liability company or any foreign
limited liability company registered in this State that, in either case, intends to adopt that name.
(3) Any foreign limited liability company having that
name and intending to make application for admission to transact business in this State.
(4) A person intending to organize a foreign limited
liability company and intending to make application for admission to transact business in this State and adopt that name.
(b) To reserve a specified name, a person shall submit
an application to the Secretary of State in the form and
manner the Secretary shall designate. If the Secretary of
State finds that the name is available for use by a limited
liability company or foreign limited liability company, the
Secretary of State shall reserve the name for the exclusive
use of the applicant for a period of 90 days or until surrendered by a
written cancellation document signed by the applicant, whichever is sooner.
The right to the exclusive use of a reserved name may be transferred to
any other person by delivering to the Office of the Secretary
of State a notice of the transfer, executed by the person for
whom the name was reserved and specifying the name and
address of the transferee.
(Source: P.A. 93-59, eff. 7-1-03.)