1. 1. The Secretary of State shall authorize a foreign business trust whose right to transact business in this State has been revoked to cancel its registration in this State without paying additional fees and penalties, other than the fee for filing a certificate of cancellation required by NRS 88A.900, if the foreign business trust provides evidence satisfactory to the Secretary of State that the foreign business trust did not transact business in this State:

   1. (a) During the entire period for which its right to transact business in this State was revoked; or
   2. (b) During a portion of the period for which its right to transact business in this State was revoked and the foreign business trust paid the fees and penalties for the portion of that period in which the foreign business trust transacted business in this State.
2. 2. The Secretary of State may adopt regulations to administer the provisions of this section.

(Added to NRS by 2015, 1315)