490.290 - Principal place of business and branches to be covered by bond or deposit; licensee to procure certain separate bonds or make separate deposits. [Effective 1 year after the date the Interim
490.290 Principal place of business and branches to be covered by bond or deposit; licensee to procure certain separate bonds or make separate deposits. [Effective 1 year after the date the Interim Finance Committee issues a notice to the Department of Motor Vehicles that adequate money is available to begin registering off-highway vehicles or on July 1, 2011, whichever is sooner, and expires by limitation on July 1, 2011, if such notice is not given before that date.]
1. The bond required by NRS 490.270 or deposit made pursuant to NRS 490.280 must cover the licensee’s principal place of business and all branches operated by the licensee, including, without limitation, any place of business operated in this State by the licensee that is located outside the county of the licensee’s principal office or any place of business operated by the licensee under a different name.
2. In addition to the coverage provided by the licensee’s bond or deposit pursuant to subsection 1, the licensee shall procure a separate bond or make a separate deposit for:
(a) Each place of business operated in this State by the licensee that is located outside the county of the licensee’s principal office; and
(b) Each place of business operated by the licensee under a different name.
(Added to NRS by 2009, 3097, effective 1 year after the date the Interim Finance Committee issues a notice to the Department of Motor Vehicles that adequate money is available to begin registering off-highway vehicles or on July 1, 2011, whichever is sooner, and expires by limitation on July 1, 2011, if such notice is not given before that date)