NRS 611.070
Bond: Amount

  • conditions
  • deposits in lieu of bond
  • increase of bond or deposit
  • Labor Commissioner’s Account for Bonds.

1.

Before a license is issued, the applicant shall deposit with the Labor Commissioner a bond, approved by the Labor Commissioner, in the sum of $1,000 with two or more sureties or an authorized surety company as surety. A notice of 30 days must be given to the Labor Commissioner before cancellation of the bond.

2.

The bond must be conditioned so that the suspension, revocation, surrender or expiration of the license to operate the employment agency does not affect the coverage of the bond as to a claim arising out of acts that occurred before the date of the suspension, revocation, surrender or expiration of the license.

3.

In lieu of a bond an applicant may deposit with the Labor Commissioner:

(a)

An amount of money or bonds of the United States or of the State of Nevada of an actual market value not less than the amount fixed by the Labor Commissioner; or

(b)

A savings certificate of a bank, credit union, savings and loan association or savings bank situated in Nevada, which indicates an account containing an amount equal to the amount of the bond which would otherwise be required by this section and that this amount is unavailable for withdrawal except upon order of the Labor Commissioner. Interest earned on this amount accrues to the account of the applicant.

4.

The Labor Commissioner may at any time require the licensee to file a new or supplementary bond, or a deposit in lieu thereof, in a form and amount of not more than $5,000 to conform to the provisions of this section if the Labor Commissioner deems the initial deposit or surety of the initial bond to be unsatisfactory or the amount of the deposit or bond to have become insufficient to satisfy all claims, accrued or contingent, against the licensee.

5.

Any money received in lieu of a bond must be deposited with the State Treasurer for credit to the Labor Commissioner’s Account for Bonds, which is hereby created in the State Agency Fund for Bonds. The deposit must not be released for a period of 90 days following the date of suspension, revocation, surrender or expiration of the license.

Source: Section 611.070 — Bond: Amount; conditions; deposits in lieu of bond; increase of bond or deposit; Labor Commissioner’s Account for Bonds., https://www.­leg.­state.­nv.­us/NRS/NRS-611.­html#NRS611Sec070.

611.020
Definitions. 611.023
Administration by Labor Commissioner 611.025
Hearings by Labor Commissioner 611.030
License: Procurement from Labor Commissioner 611.040
Application for license. 611.045
Investigation of applicant 611.050
Grounds for denial, suspension and revocation of license. 611.055
Employment agency to be permitted to continue business during pendency of review proceedings. 611.060
Fees for licenses and renewals. 611.070
Bond: Amount 611.080
Bond: Payable to people of State of Nevada 611.090
Bond: Failure to file new bond after demand 611.100
Deposit of fees for licenses. 611.110
Contents of license. 611.120
Persons and places protected. 611.130
Posting of license in employment agency. 611.135
Claims against licensees: Assignment to Labor Commissioner 611.140
Actions against licensees: Parties 611.150
Actions against licensees: Service of summons. 611.160
Records: Maintenance and retention 611.170
Records: Inspection by Labor Commissioner 611.175
Copy of contract to be given to applicant. 611.180
Invoice to be given to applicant 611.200
Receipts: Issuance 611.210
Approval of forms by Labor Commissioner. 611.220
Limit on fee. 611.225
Interest on account past due 611.230
Posting of notice of limitation of fee. 611.240
Authorization for referral required before acceptance of fee from applicant or referral of applicant. 611.250
Refunding of fee paid by applicant. 611.260
Limitation on fee if applicant employed less than 30 days. 611.265
Prohibited practices. 611.270
Publication of false, fraudulent or misleading information 611.290
Statement of existence of labor dispute to be furnished applicant 611.300
Division of fees with certain persons prohibited. 611.310
Enforcement by Labor Commissioner 611.320
Criminal and administrative penalties.
Last Updated

Jun. 24, 2021

§ 611.070’s source at nv​.us