89.256 - Defaulting associations: Conditions and procedure for reinstatement. - Nevada Statutes

89.256  Defaulting associations: Conditions and procedure for reinstatement.

      1.  Except as otherwise provided in subsections 3 and 4 and NRS 89.251, the Secretary of State shall reinstate any professional association which has forfeited its right to transact business under the provisions of this chapter and restore the right to carry on business in this State and exercise its privileges and immunities if it:

      (a) Files with the Secretary of State:

             (1) The list and certification required by NRS 89.250; and

             (2) The information required pursuant to NRS 77.310; and

      (b) Pays to the Secretary of State:

             (1) The filing fee and penalty set forth in NRS 89.250 and 89.252 for each year or portion thereof during which the articles of association have been revoked; and

             (2) A fee of $300 for reinstatement.

      2.  When the Secretary of State reinstates the professional association, the Secretary of State shall issue to the professional association a certificate of reinstatement if the professional association:

      (a) Requests a certificate of reinstatement; and

      (b) Pays the required fees pursuant to subsection 7 of NRS 78.785.

      3.  The Secretary of State shall not order a reinstatement unless all delinquent fees and penalties have been paid, and the revocation of the articles of association occurred only by reason of the failure to pay the fees and penalties.

      4.  If the articles of association of a professional association have been revoked pursuant to the provisions of this chapter and have remained revoked for 10 consecutive years, the articles must not be reinstated.

      5.  A reinstatement pursuant to this section relates back to the date on which the professional association forfeited its right to transact business under the provisions of this chapter and reinstates the professional association’s right to transact business as if such right had at all times remained in full force and effect.

      (Added to NRS by 1995, 1138; A 2001, 3191; 2003, 20th Special Session, 114; 2005, 2271; 2007, 1336, 2438, 2701)