NRS 80.170 Defaulting corporations: Conditions and procedure for reinstatement.

424 words·~2 min read·/nv/chapter-80-foreign-corporations/80-170

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. Except as otherwise provided in subsections 3 and 4 or NRS 80.113 , the Secretary of State shall reinstate a corporation which has forfeited or which forfeits its right to transact business under the provisions of this chapter and shall restore to the corporation its right to transact business in this State, and to exercise its corporate privileges and immunities, if it:

(a)Files with the Secretary of State:

(1)The list as provided in NRS 80.110 and 80.140 ;

(2)The statement required by NRS 80.115 , if applicable;

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

(4)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 elected board of directors of the foreign corporation or, if the foreign corporation does not have a board of directors, the equivalent of such a board; 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 80.110 and 80.150 for each year or portion thereof that its right to transact business was forfeited;

(2)The fee set forth in NRS 80.115 , if applicable; and

(3)A fee of $300 for reinstatement.

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

(a)Requests a certificate of reinstatement; and

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

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 corporation 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 is not subject to reinstatement.

5. Except as otherwise provided in NRS 80.175 , a reinstatement pursuant to this section relates back to the date on which the corporation forfeited its right to transact business under the provisions of this chapter and reinstates the corporation’s right to transact business as if such right had at all times remained in full force and effect.