NAC88A.400. Activities subject to fine.

     1. The Secretary of State may refer the matter to the district attorney of the county in which a person’s principal place of business is located or the Attorney General, or both, for a determination of whether to institute proceedings to recover the fine set forth in NRS 88A.215 if the person:

     (a) Is purporting to be a business trust but has willfully failed to file with the Secretary of State a certificate of trust;

     (b) Is doing business in this State as a business trust but has willfully failed to file with the Secretary of State a certificate of trust; or

     (c) Is doing business in this State as a business trust while the business trust is in terminated status.

     2. The Secretary of State may refer the matter to the district attorney of the county in which a 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 set forth in NRS 88A.750 if the foreign business trust:

     (a) Is transacting business in this State but has willfully failed to register with the Secretary of State pursuant to NRS 88A.710; or

     (b) Is transacting business in this State while the foreign business trust is in terminated status.

     3. As used in this section, “terminated status” means any status in the records of the Office of the Secretary of State which indicates that a business trust or foreign business trust no longer has the right to transact business in this State, including, without limitation, the status of “revoked,” “permanently revoked,” “dissolved,” “cancelled,” “terminated” or “withdrawn.”

     (Added to NAC by Sec’y of State by R070-11, eff. 5-30-2012; A by R080-13, 12-23-2013)