Defaulting associations: Conditions and procedure for reinstatement.
1. Except as otherwise provided in subsections 3 and 4, 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 statement and certification required by NRS 89.250; and
(2) A certificate of acceptance of appointment signed by its resident agent; 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set forth in NRS 89.250 and 89.252 for each year or portion thereof during which the articles of association have been revoked; and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, he 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 8 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 If the articles of association of a professional association have been revoked pursuant to the provisions of this chapter and have remained revoked for 10 consecutive years, the articles must not be reinstated.
Last modified: February 26, 2006