A North Carolina licensee proposes a 2026 trade name close to that of a state bank. How does potential public confusion affect approval of the proposed name?
Correct Answer
D) Blocked if it would confuse the public about identity or powers
The name change is permitted provided the Commissioner determines that the new name will not result in confusion among the general public regarding the identity or powers of the licensee. Other choices: the assumed name statutes are one condition of three rather than the whole test; no objection is required; and a disclaimer is not the remedy. Source: 04 NCAC 03M .0203(3)
Why This Is the Correct Answer
The name change is permitted provided the Commissioner determines that the new name will not result in confusion among the general public regarding the identity or powers of the licensee. Other choices: the assumed name statutes are one condition of three rather than the whole test; no objection is required; and a disclaimer is not the remedy. Source: 04 NCAC 03M .0203(3)
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