88A.735 - Defaulting trusts: Identification; forfeiture of right to transact business; penalty. - Nevada Statutes

88A.735  Defaulting trusts: Identification; forfeiture of right to transact business; penalty.

      1.  Each foreign business trust which is required to make a filing and pay the fee prescribed in NRS 88A.732 to 88A.738, inclusive, and which refuses or neglects to do so within the time provided is in default.

      2.  For default there must be added to the amount of the fee a penalty of $75, and unless the filing is made and the fee and penalty are paid on or before the last day of the month in which the anniversary date of the foreign business trust occurs, the defaulting foreign business trust by reason of its default forfeits its right to transact any business within this State. The fee and penalty must be collected as provided in this chapter.

      (Added to NRS by 2003, 20th Special Session, 103)