Application for Reservation of Name - Limited Liability Company - South Dakota

Application for Reservation of Name - Limited Liability Company is a legal document that was released by the South Dakota Secretary of State - a government authority operating within South Dakota.

FAQ

Q: What is an application for reservation of name?A: An application for reservation of name is a form that is submitted to the government to secure a particular name for a limited liability company (LLC).

Q: What is a limited liability company (LLC)?A: A limited liability company (LLC) is a type of business structure that combines the benefits of a corporation (limited liability) with those of a partnership or sole proprietorship (flexibility in management and taxation).

Q: Why would someone want to reserve a name for an LLC?A: Reserving a name for an LLC ensures that no other company can use that name during the reservation period. This provides time for the applicant to properly organize and file the necessary paperwork to establish the LLC.

Q: How long does the name reservation last?A: In South Dakota, the name reservation for an LLC lasts for 120 days.

Q: How can someone apply for a name reservation for an LLC in South Dakota?A: To apply for a name reservation for an LLC in South Dakota, the applicant must complete the Application for Reservation of Name form and submit it with the required fee to the South Dakota Secretary of State.

Q: Is the name reservation fee refundable?A: No, the name reservation fee is non-refundable.

Q: What happens if someone else has already reserved the desired LLC name?A: If the desired LLC name has already been reserved by another entity, the applicant will need to choose a different name for their LLC.

Q: Can the reservation be extended beyond the initial 120-day period?A: No, the name reservation cannot be extended beyond the initial 120-day period. If the applicant needs more time, they will need to submit a new application and pay a new fee.