Montana Code 35-12-505. Name
35-12-505. Name. (1) The name of a limited partnership may contain the name of any partner.
Terms Used In Montana Code 35-12-505
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(2)The name of each limited partnership that is not a limited liability partnership must contain the phrase “limited partnership” or the abbreviation “l.p.” or “lp” and may not contain the phrase “limited liability limited partnership” or the abbreviation “l.l.l.p.” or “lllp”.
(3)The name of a limited liability limited partnership must contain the phrase “limited liability limited partnership” or the abbreviation “l.l.l.p.” or “lllp” and may not contain the abbreviation “l.p.”or “lp”.
(4)Unless authorized by subsection (5), the name of a limited partnership must be distinguishable in the records of the secretary of state from:
(a)the name of each person other than an individual incorporated, organized, or authorized to transact business in this state; and
(b)each name reserved under Title 30, chapter 13, part 2, or 35-12-506.
(5)A limited partnership may apply to the secretary of state for authorization to use a name that does not comply with subsection (4). The secretary of state shall authorize use of the name applied for if, as to each conflicting name:
(a)the present user, registrant, or owner of the conflicting name consents in a signed record to the use and submits an undertaking in a form satisfactory to the secretary of state to change the conflicting name to a name that complies with subsection (4) and that is distinguishable in the records of the secretary of state from the name applied for;
(b)the applicant delivers to the secretary of state a certified copy of the final judgment of a court of competent jurisdiction establishing the applicant’s right to use in this state the name applied for; or
(c)the applicant delivers to the secretary of state proof satisfactory to the secretary of state that the present user, registrant, or owner of the conflicting name:
(i)has merged into the applicant;
(ii)has been converted into the applicant; or
(iii)has transferred substantially all of its assets, including the conflicting name, to the applicant.
(6)Subject to 35-12-1312, this section applies to any foreign limited partnership transacting business in this state, having a certificate of authority to transact business in this state, or applying for a certificate of authority.