Nevada § 88A.737 - Defaulting trusts: Conditions and procedure for reinstatement

§ 88A.737. Defaulting trusts: Conditions and procedure for reinstatement

1. Except as otherwise provided in subsections 3 and 4 and NRS 88A.7345 , the Secretary of State shall reinstate a foreign business trust which has forfeited

or which forfeits its right to transact business under the provisions of this chapter

and shall restore to the foreign business trust 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 88A.732 ; (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 trustees of the foreign business trust; 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 88A.732 and 88A.735 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 business trust, the Secretary

of State shall issue to the foreign business trust a certificate of reinstatement

if the foreign business trust: (a) Requests a certificate of reinstatement; and (b) Pays the required fees pursuant to NRS 88A.900 . 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 business trust 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 88A.738 , a reinstatement pursuant to this section relates back to the date the foreign business

trust forfeited its right to transact business under the provisions of this chapter

and reinstates the foreign business trust's right to transact business as if such

right had at all times remained in full force and effect.