Illinois General Assembly - Illinois Compiled Statutes

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205 ILCS 5/9.5

(205 ILCS 5/9.5)

Sec. 9.5.

Reservation of corporate name.

Upon the filing of an
application
for a permit to organize, an applicant may request that the Commissioner
reserve
the name of the proposed bank.  The reservation shall be made by filing with
the
Commissioner an application to reserve a specified corporate name on forms
prescribed by the
Commissioner.  If the Commissioner finds that the name is available for
corporate use, he or
she shall reserve the name for the exclusive use of the applicant.  The
Commissioner shall
prescribe by rule the duration of the reservation.

The right to the exclusive use of a specified corporate name so reserved may
be
transferred to any other person by filing with the Commissioner a notice of the
transfer executed by the person for whom such name was reserved and specifying
the name and address of the transferee.

The Commissioner may revoke any
reservation if, after a hearing, he or she
finds that the
application therefor was made contrary to this Act.

(Source: P.A. 91-452, eff. 1-1-00.)