D&C 63

In the ten commandments, on of those commandments was -

"Thou shalt not take the name of the LORD thy God in vain; for the LORD will not hold him guiltless that taketh his name in vain."  (Old Testament | Exodus 20:7)

Most individuals consider this to mean not to swear.  But as the Lord concluded this revelation, He said -

"Wherefore, let all men beware how they take my name in their lips—"  (Doctrine and Covenants | Section 63:61)

In my mind, this would suggest a greater meaning.  The Lord continued -

"For behold, verily I say, that many there be who are under this condemnation, who use the name of the Lord, and use it in vain, having not authority."  (Doctrine and Covenants | Section 63:62)

Adding -

"Remember that that which cometh from above is sacred, and must be spoken with care, and by constraint of the Spirit; and in this there is no condemnation, and ye receive the Spirit through prayer; wherefore, without this there remaineth condemnation."  (Doctrine and Covenants | Section 63:64)

I believe that making sacred covenants and exercising priesthood authority in the name of Jesus Christ is taking His name in vain when we take these things lightly and do not honor or live worthy of such.  I note what Elder James E. Talmage said on taking the name of the Lord in vain -

“1. We may take the name of God in vain by profane speech...2. We take it in vain when we swear falsely, not being true to our oaths and promises...3. We take it in vain in a blas-phemous sense when we presume to speak in that name without authority...4. And we take his name in vain whenever we wilfully do aught [anything] that is in defiance of his commandments, since we have taken his name upon ourselves.” (In Conference Report, October 1931, page 53.)