Nevada § 87.5435 - Defaulting partnerships: Conditions and procedure for reinstatement

§ 87.5435. Defaulting partnerships: Conditions and procedure for reinstatement

1. Except as otherwise provided in subsections 3 and 4 and NRS 87.5413 , the Secretary of State shall reinstate a foreign registered limited-liability partnership

which has forfeited or which forfeits its right to transact business under the provisions

of this chapter and shall restore to the foreign registered limited-liability partnership

its right to transact business in this State, and to exercise its privileges and immunities,

if it: (a) Files with the Secretary of State: (1) The list required by NRS 87.541 ; (2) The information required pursuant to NRS 77.310 ; and (3) A declaration under penalty of perjury, on a form provided by the Secretary of

State, that the reinstatement is authorized by a court of competent jurisdiction in

this State or by the duly selected managing partners of the foreign registered limited-liability

partnership; and (b) Except as otherwise provided in NRS 231.14057 , pays to the Secretary of State: (1) The filing fee and penalty set forth in NRS 87.541 and 87.5425 for each year or portion thereof that its right to transact business was forfeited;

and (2) A fee of $300 for reinstatement. 2. When the Secretary of State reinstates the foreign registered limited-liability

partnership, the Secretary of State shall issue to the foreign registered limited-liability

partnership a certificate of reinstatement if the foreign registered limited-liability

partnership: (a) Requests a certificate of reinstatement; and (b) Pays the required fees pursuant to NRS 87.550 . 3. Except as otherwise provided in NRS 231.14057 , the Secretary of State shall not order a reinstatement unless all delinquent fees

and penalties have been paid and the revocation of the right to transact business

occurred only by reason of failure to pay the fees and penalties. 4. If the right of a foreign registered limited-liability partnership to transact

business in this State has been forfeited pursuant to the provisions of this chapter

and has remained forfeited for a period of 5 consecutive years, the right to transact

business must not be reinstated. 5. Except as otherwise provided in NRS 87.544 , a reinstatement pursuant to this section relates back to the date on which the foreign

registered limited-liability partnership forfeited its right to transact business

under the provisions of this chapter and reinstates the foreign registered limited-liability

partnership's right to transact business as if such right had at all times remained

in full force and effect.