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AR SB205
Bill
Status
3/14/2023
Primary Sponsor
Clint Penzo
Click for details
AI Summary
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Establishes "distinguishable" as the standard for corporate and LLC name availability in Arkansas, replacing the previous "confusingly similar" standard.
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Defines specific factors the Secretary of State may use to determine name distinguishability: suffixes, articles, the word "and" or symbol "&", singular/plural/possessive forms, and punctuation marks or symbols.
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Applies the "distinguishable" standard and definition to corporations under the Arkansas Business Corporation Act of 1987, nonprofit corporations, and limited liability companies.
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Requires the Secretary of State to reject proposed fictitious names for corporations, LLCs, and partnerships that are not distinguishable from existing registered business names.
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Permits corporations and LLCs to use non-distinguishable names only with written consent from the existing entity holder or through court judgment establishing the right to use the name.
Legislative Description
To Assist Small Business Owners To Form A Legal Entity In This State; And To Clarify The Procedures And Standards Used For Name Availability For Certain Corporations And Limited Liability Companies.
Last Action
Notification that SB205 is now Act 256
3/14/2023