A. The secretary of state shall cancel a trade name registration if:
1. The secretary of state receives a voluntary request for cancellation from the registrant or the assignee of record.
2. The registration is not renewed in accordance with this article.
3. A court of competent jurisdiction orders the cancellation on any grounds.
4. The registration was obtained fraudulently by containing false or misleading information.
B. The secretary of state may release a trade name for use pursuant to this article six months after the trade name's corporate owner has been administratively dissolved.