706.3058 - Permitted forms of security. - Nevada Statutes - USA Laws Searching

Statutes > Nevada Statutes > TITLE 58 - ENERGY; PUBLIC UTILITIES AND SIMILAR ENTITIES > Chapter 706 - Motor Carriers > REGULATION AND LICENSING OF MOTOR CARRIERS > Liability Insurance, Bonds and Security > 706.3058 - Permitted forms of security.

706.3058 - Permitted forms of security.

706.3058  Permitted forms of security.  For the purposes of NRS 706.3056, the Department may accept from the operator of a taxicab any one of the following forms of security, or any combination thereof:

      1.  A time certificate of deposit with any bank or credit union licensed or chartered by this State or the Federal Government, made payable to the operator and the Department.

      2.  Bonds and securities issued or guaranteed by the Federal Government made payable to the operator and the Department.

      3.  A deposit in an amount required by NRS 706.3056 made with the State Treasurer, with the Department appointed as trustee of the deposit.

      4.  A surety bond submitted on behalf of the operator by any surety company authorized to transact business in this State.

      5.  Any other form of security, including the net worth of the operator, which is acceptable to the Department.

      (Added to NRS by 1989, 1785; A 1999, 1555)

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