NRS 370.682
Bond of nonparticipating manufacturer: Posting requirements

  • amount
  • execution
  • application of amount collected by State
  • regulations.

1.

A nonparticipating manufacturer shall post a bond approved by the Attorney General for the benefit of the State of Nevada.

2.

The bond must be posted not less than 10 days before the beginning of each calendar quarter as a condition of the nonparticipating manufacturer and its brand families being included in the directory for that quarter. The amount of the bond must be the greater of $50,000 or the greatest required escrow amount due from the nonparticipating manufacturer or its predecessor for any of the immediately preceding 12 calendar quarters.

3.

If a nonparticipating manufacturer has failed to make or have made on its behalf escrow deposits equal to the full amount due for a calendar quarter within 15 business days after the due date for that calendar quarter, the State of Nevada may execute upon the bond posted by the nonparticipating manufacturer pursuant to subsection 1 in an amount equal to any remaining escrow amount due.

4.

Any amount that the State of Nevada collects on a bond posted by a nonparticipating manufacturer pursuant to this section:

(a)

Must be deposited into a special escrow account established and maintained by the State of Nevada and used for purposes authorized for the use of money in the qualified escrow fund of the nonparticipating manufacturer pursuant to this chapter and chapter 370A of NRS; and

(b)

Reduces the escrow amount due from the nonparticipating manufacturer in the dollar amount collected.

5.

Escrow obligations above the amount collected on the bond remain due from the nonparticipating manufacturer and, as provided in NRS 370.683 and 370.684, from wholesale dealers and importers, respectively, that sold the cigarettes of the nonparticipating manufacturer during that calendar quarter.

6.

The withholding, use or return of amounts deposited into the special escrow account must be handled in the same manner as amounts deposited in the qualified escrow fund of the nonparticipating manufacturer pursuant to the provisions of this chapter and chapter 370A of NRS.

7.

The Attorney General shall adopt regulations to carry out the provisions of this section.

Source: Section 370.682 — Bond of nonparticipating manufacturer: Posting requirements; amount; execution; application of amount collected by State; regulations., https://www.­leg.­state.­nv.­us/NRS/NRS-370.­html#NRS370Sec682.

370.600
Legislative findings. 370.605
Definitions. 370.610
“Brand family” defined. 370.615
“Cigarette” defined. 370.620
“Directory” defined. 370.625
“Distributor” defined. 370.630
“Manufacturer of tobacco products” defined. 370.635
“Master Settlement Agreement” defined. 370.640
“Nonparticipating manufacturer” defined. 370.645
“Participating manufacturer” defined. 370.650
“Qualified escrow fund” defined. 370.655
“Stamp” defined. 370.660
“Units sold” defined. 370.665
Certification by manufacturers: Execution and delivery 370.670
Certification by manufacturers: Prerequisites to inclusion of brand family 370.675
Directory of manufacturers, brand families and styles of cigarettes: Duties of Department 370.677
Department required to notify wholesale dealer or retail dealer of certain changes to directory of manufacturers, brand families and styles of cigarettes 370.680
Nonresident or foreign nonparticipating manufacturers and wholesale dealers: Agent for service of process. 370.682
Bond of nonparticipating manufacturer: Posting requirements 370.683
Liability of wholesale dealer for required escrow deposits 370.684
Liability of importer for required escrow deposit and certain reports. 370.685
Distributor required to maintain and submit records 370.690
Adoption of certain regulations by Department. 370.692
Account for Tobacco Enforcement: Creation 370.693
Attorney General: Application for grants 370.695
Unlawful acts 370.696
Civil penalty: Noncompliance of wholesale dealer or manufacturer 370.697
Civil penalty: False or inaccurate certification by wholesale dealer or nonparticipating manufacturer 370.698
Suspension, revocation and reinstatement of license of wholesale dealer whose license is suspended or revoked in another state 370.700
Action for injunction or enforcement 370.705
Controlling provisions
Last Updated

Feb. 5, 2021

§ 370.682’s source at nv​.us