The name of a cooperative shall include the words “telephone” and “cooperative,” and the abbreviation “inc.,” unless, in an affidavit made by its president or vice president, and filed with the Secretary of State, or in an affidavit made by a person signing articles of incorporation, consolidation, merger or conversion, which relate to such cooperative, and filed, together with any such articles, with the Secretary of State, it shall appear that the cooperative desires to do business in another state and is or would be precluded therefrom by reason of the inclusion of such words or either thereof in its name. The name of a cooperative shall be distinct from the name of any other cooperative or corporation organized under the laws of, or authorized to do business in, this state. This section shall not apply to any corporation which becomes subject to this act¹ by complying with the provisions of Section 20 of this act,² or which does business in this state pursuant to Section 29 of this act³ and which elects to retain a corporate name which does not comply with this section.