Nevada Administrative Code
Chapter 482 - Motor Vehicles and Trailers: Licensing, Registration, Sales and Leases
PROGRAM FOR REGISTRATION OF NEW VEHICLES BY NEW VEHICLE DEALERS
Section 482.680 - Bond or deposit: Amount of liability; suspension, revocation and reinstatement of participation
Universal Citation: NV Admin Code 482.680
Current through December 12, 2024
1. Liability under a surety bond which is filed or a deposit which is made with the Department pursuant to NAC 482.678 will be in an amount prescribed by the Department.
2. The Department will suspend or revoke the authority of a new vehicle dealer to participate in the program if:
(a) The amount of the surety bond filed or the deposit made is reduced to an amount that is less than the amount required by the Department pursuant to NAC 482.678;
(b) There is an outstanding judgment resulting from the sale, transfer of interest or registration of a vehicle for which the new vehicle dealer is liable;
(c) The new vehicle dealer violates any provision of NRS 482.352; or
(d) The Department determines that the suspension or revocation is in the best interest of the public.
3. A new vehicle dealer whose participation in the program is suspended pursuant to subsection 2 will be reinstated if the new vehicle dealer:
(a) Files an additional surety bond pursuant to NAC 482.678;
(b) Restores the deposit to its original amount;
(c) Satisfies the outstanding judgment for which he or she is liable; or
(d) Takes all other action required by the Department.
4. A new vehicle dealer whose participation in the program is revoked pursuant to subsection 2 may not be reinstated for 1 year after the date of revocation.
Added to NAC by Dep't of Motor Veh. by R011-08, eff. 6-17-2008
NRS 482.160, 482.216
Disclaimer: These regulations may not be the most recent version. Nevada may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
