(a) The name of each limited liability company as set forth in its articles of organization:
         (1) shall contain the terms “limited liability company”, “L.L.C.”, or “LLC”, or, if organized as a low-profit limited liability company under Section 1-26 of this Act, shall contain the term “L3C”;
        (2) may not contain a word or phrase, or an abbreviation or derivation thereof, the use of which is prohibited or restricted by any other statute of this State unless the restriction has been complied with;
        (3) shall consist of letters of the English alphabet, Arabic or Roman numerals, or symbols capable of being readily reproduced by the Office of the Secretary of State;
        (4) shall not contain any of the following terms: “Corporation,” “Corp.,” “Incorporated,” “Inc.,” “Ltd.,” “Co.,” “Limited Partnership” or “L.P.”;
        (5) shall be the name under which the limited liability company transacts business in this State unless the limited liability company also elects to adopt an assumed name or names as provided in this Act; provided, however, that the limited liability company may use any divisional designation or trade name without complying with the requirements of this Act, provided the limited liability company also clearly discloses its name;
        (6) shall not contain any word or phrase that indicates or implies that the limited liability company is authorized or empowered to be in the business of a corporate fiduciary unless otherwise permitted by the Commissioner of the Office of Banks and Real Estate under Section 1-9 of the Corporate Fiduciary Act. The word “trust”, “trustee”, or “fiduciary” may be used by a limited liability company only if it has first complied with Section 1-9 of the Corporate Fiduciary Act;
        (7) shall contain the word “trust”, if it is a limited liability company organized for the purpose of accepting and executing trusts; and
        (8) shall not, as to any limited liability company organized or amending its company name on or after April 3, 2009 (the effective date of Public Act 96-7), without the express written consent of the United States Olympic Committee, contain the words: (i) “Olympic”; (ii) “Olympiad”; (iii) “Paralympic”; (iv) “Paralympiad”; (v) “Citius Altius Fortius”; (vi) “CHICOG”; or (vii) “Chicago 2016”.
    (b) Nothing in this Section or Section 1-20 shall abrogate or limit the common law or statutory law of unfair competition or unfair trade practices, nor derogate from the common law or principles of equity or the statutes of this State or of the United States of America with respect to the right to acquire and protect copyrights, trade names, trademarks, service marks, service names, or any other right to the exclusive use of names or symbols.
     (c) (Blank).
     (d) The name shall be distinguishable upon the records in the Office of the Secretary of State from all of the following:
         (1) Any limited liability company that has articles of organization filed with the Secretary of State under Section 5-5.
        (2) Any foreign limited liability company admitted to transact business in this State.
        (3) Any name for which an exclusive right has been reserved in the Office of the Secretary of State under Section 1-15.
        (4) Any assumed name that is registered with the Secretary of State under Section 1-20.
        (5) Any corporate name or assumed corporate name of a domestic or foreign corporation subject to the provisions of Section 4.05 of the Business Corporation Act of 1983 or Section 104.05 of the General Not For Profit Corporation Act of 1986.
    (e) The provisions of subsection (d) of this Section shall not apply if the organizer files with the Secretary of State a certified copy of a final decree of a court of competent jurisdiction establishing the prior right of the applicant to the use of that name in this State.
     (f) The Secretary of State shall determine whether a name is “distinguishable” from another name for the purposes of this Act. Without excluding other names that may not constitute distinguishable names in this State, a name is not considered distinguishable, for purposes of this Act, solely because it contains one or more of the following:
         (1) The word “limited”, “liability” or “company” or an abbreviation of one of those words.
        (2) Articles, conjunctions, contractions, abbreviations, or different tenses or number of the same word.