Section 4.02(b) of the Revised Model Business Corporation Act states: "The owner of a reserved corporate name may transfer the reservation to another person by delivering to the secretary of state a signed notice of the transfer that states the name and address of the transferee."
New York Notice of Transfer of Reserved Corporate Name: A Comprehensive Guide Keywords: New York, Notice of Transfer, Reserved Corporate Name, filing, Department of State, types, requirements, process, forms, fees Introduction: In the state of New York, a Notice of Transfer of Reserved Corporate Name is a crucial legal document used when transferring the reservation of a corporate name to a different entity or business. This notice ensures that the name reservation remains valid and that it is transferred accurately. The Department of State (DOS) oversees this process, and it is essential to understand the various types, requirements, fees, and forms associated with this procedure. This guide explains in detail what the New York Notice of Transfer of Reserved Corporate Name entails. Types of New York Notice of Transfer of Reserved Corporate Name: 1. Transfer to a Different Entity: This type of transfer occurs when a business entity has reserved a corporate name, but due to a change in ownership, it decides to transfer the name reservation to a different entity while maintaining the same legal name. 2. Transfer within the Same Entity: In some cases, a company might undergo a restructuring or a transfer of assets, requiring the transfer of a reserved corporate name to a different division or subsidiary within the same entity. Requirements for Filing: 1. Completed Form TO: The transfer process starts with completing the New York Department of State's Form TO (Notice of Transfer of Reserved Name). This form requires accurate information about both the current and new entities. 2. Reason for Transfer: The filing must provide a clear and valid reason for the transfer of the reserved name, explaining the circumstances of the transfer. 3. Documentation: The DOS may require supporting documentation, such as a resolution from the transferring entity's board of directors approving the name transfer. 4. Active Name Reservation: The original name reservation that is being transferred must still be active and not expired. If it is expired, the entity must consider renewing it before initiating the transfer process. Process for Filing: 1. Complete Form TO: Gather all required information and accurately complete Form TO, providing detailed information about the transferring and new entities. 2. Attach Supporting Documentation: Ensure all necessary documentation, such as the board resolution, is attached with the completed form. 3. Submit the Form: Submit the completed Form TO, along with the required fee, to the New York Department of State. The fee is typically $25, payable by check or money order. 4. Processing Time: The DOS usually processes filing requests within a specific timeframe, which can vary. It is advisable to check the processing times for accurate information. Conclusion: The New York Notice of Transfer of Reserved Corporate Name is a vital part of ensuring the accuracy and legality of transferring a reserved corporate name between entities within the state. Understanding the different types, requirements, and the filing process is crucial for a seamless transfer. By adhering to the guidelines provided by the New York Department of State, businesses can ensure a smooth and hassle-free experience when transferring their reserved corporate name.
New York Notice of Transfer of Reserved Corporate Name: A Comprehensive Guide Keywords: New York, Notice of Transfer, Reserved Corporate Name, filing, Department of State, types, requirements, process, forms, fees Introduction: In the state of New York, a Notice of Transfer of Reserved Corporate Name is a crucial legal document used when transferring the reservation of a corporate name to a different entity or business. This notice ensures that the name reservation remains valid and that it is transferred accurately. The Department of State (DOS) oversees this process, and it is essential to understand the various types, requirements, fees, and forms associated with this procedure. This guide explains in detail what the New York Notice of Transfer of Reserved Corporate Name entails. Types of New York Notice of Transfer of Reserved Corporate Name: 1. Transfer to a Different Entity: This type of transfer occurs when a business entity has reserved a corporate name, but due to a change in ownership, it decides to transfer the name reservation to a different entity while maintaining the same legal name. 2. Transfer within the Same Entity: In some cases, a company might undergo a restructuring or a transfer of assets, requiring the transfer of a reserved corporate name to a different division or subsidiary within the same entity. Requirements for Filing: 1. Completed Form TO: The transfer process starts with completing the New York Department of State's Form TO (Notice of Transfer of Reserved Name). This form requires accurate information about both the current and new entities. 2. Reason for Transfer: The filing must provide a clear and valid reason for the transfer of the reserved name, explaining the circumstances of the transfer. 3. Documentation: The DOS may require supporting documentation, such as a resolution from the transferring entity's board of directors approving the name transfer. 4. Active Name Reservation: The original name reservation that is being transferred must still be active and not expired. If it is expired, the entity must consider renewing it before initiating the transfer process. Process for Filing: 1. Complete Form TO: Gather all required information and accurately complete Form TO, providing detailed information about the transferring and new entities. 2. Attach Supporting Documentation: Ensure all necessary documentation, such as the board resolution, is attached with the completed form. 3. Submit the Form: Submit the completed Form TO, along with the required fee, to the New York Department of State. The fee is typically $25, payable by check or money order. 4. Processing Time: The DOS usually processes filing requests within a specific timeframe, which can vary. It is advisable to check the processing times for accurate information. Conclusion: The New York Notice of Transfer of Reserved Corporate Name is a vital part of ensuring the accuracy and legality of transferring a reserved corporate name between entities within the state. Understanding the different types, requirements, and the filing process is crucial for a seamless transfer. By adhering to the guidelines provided by the New York Department of State, businesses can ensure a smooth and hassle-free experience when transferring their reserved corporate name.