Sec. 1. 13-C MRSA §401, sub-§8 is enacted to read:

8.__Status as part of name.__The name of any corporation that organizes under this Title on or after January 1, 2006 or that amends its articles of incorporation after the effective date of this subsection must contain the word, or abbreviation of the word, "corporation," "incorporated" or "limited" or comparable words or abbreviations of like meaning in another language.

SUMMARY

This bill requires that a corporate business name clearly identify the status of the business as being incorporated as is required by many other jurisdictions.