1. The Secretary of State shall authorize a business trust whose certificate of trust has been revoked to cancel its certificate of trust without paying additional fees and penalties, other than the fee for filing a certificate of cancellation required by NRS 88A.900, if the business trust provides evidence satisfactory to the Secretary of State that the business trust did not transact business in this State or as a business trust organized pursuant to the laws of this State:
(a) During the entire period for which its certificate of trust was revoked; or
(b) During a portion of the period for which its certificate of trust was revoked and the business trust paid the fees and penalties for the portion of that period in which the business trust transacted business in this State or as a business trust organized pursuant to the laws of this State.
2. The Secretary of State may adopt regulations to administer the provisions of this section.
(Added to NRS by 2015, 1314)