2017 Nevada Revised Statutes
Chapter 573 - Public Sales of Livestock
NRS 573.033 - Details and amount of bond; liability of surety.
1. If an applicant delivers a surety bond to the Director pursuant to the provisions of subsection 1 of NRS 573.030, the surety bond must be:
(a) In the amount of $200,000 or more but less than $1,000,000.
(b) Executed by the applicant as principal and by a surety company qualified and authorized to do business in this state as surety.
(c) A standard form and approved by the Director as to terms and conditions.
(d) Conditioned that the principal will not commit any fraudulent act and will comply with the provisions of this chapter and the rules and regulations adopted by the Department.
(e) To the State of Nevada in favor of every consignor creditor whose livestock was handled or sold through or at the licensee’s public livestock auction.
2. The total and aggregate liability of the surety for all claims upon the bond must be limited to the face amount of the bond.
(Added to NRS by 1965, 381; A 1993, 1750; 1999, 3690; 2015, 3611)
