Nevada § 88A.750 - Penalty for transacting business without registration; enforcement; regulations

§ 88A.750. Penalty for transacting business without registration; enforcement; regulations

1. Every foreign business trust transacting business in this State which willfully

fails or neglects to register with the Secretary of State pursuant to the provisions

of NRS 88A.710 is subject to a fine of not less than $1,000 but not more than $10,000, to be recovered

in a court of competent jurisdiction. 2. Every foreign business trust transacting business in this State which fails or

neglects to register with the Secretary of State pursuant to the provisions of NRS 88A.710 may not commence or maintain any action, suit or proceeding in any court of this

State until it has registered with the Secretary of State. 3. The failure of a foreign business trust to register with the Secretary of State

does not impair the validity of any contract or act of the foreign business trust

or prevent the foreign business trust from defending any action, suit or proceeding

in any court of this State. 4. When the Secretary of State is advised that a foreign business trust is subject

to the fine described in subsection 1, the Secretary of State may, as soon as practicable,

refer the matter to the district attorney of the county where the foreign business

trust has its principal place of business or the Attorney General, or both, for a

determination of whether to institute proceedings to recover the fine. The district attorney of the county where the foreign business trust has its principal

place of business or the Attorney General may institute and prosecute the appropriate

proceedings to recover the fine. If the district attorney or the Attorney General prevails in a proceeding to recover

the fine described in subsection 1, the district attorney or the Attorney General

is entitled to recover the costs of the proceeding, including, without limitation,

the cost of any investigation and reasonable attorney's fees. 5. In the course of an investigation of a violation of this section, the Secretary

of State may require a foreign business trust to answer any interrogatory submitted

by the Secretary of State that will assist in the investigation. 6. A foreign business trust, by transacting business in this State without registering

with the Secretary of State, appoints the Secretary of State as its agent for service

of process with respect to causes of action arising out of the transaction of business

in this State. 7. The Secretary of State may adopt regulations to administer the provisions of this

section.