NRS 696A.080
Deposit and maintenance of security: Form

  • amount.

1.

A person shall not render or agree to render motor club service without first depositing and thereafter continuously maintaining security in one of the following forms with the Commissioner:

(a)

The sum of $100,000 in cash.

(b)

Securities approved by the Commissioner, having a market value of $100,000 and being of a type approved by the Commissioner and legal for investment by admitted insurers issuing nonassessable policies on a reserve basis.

(c)

A surety bond in the principal sum of $100,000 with an admitted surety insurer as surety.

2.

In lieu of the deposit required by subsection 1, a foreign or alien motor club may deposit evidence satisfactory to the Commissioner that it has on deposit with an officer of a state of the United States of America, authorized by the law of such state to accept such deposit:

(a)

Securities which meet the requirements of paragraph (b) of subsection 1 of at least a like amount for the benefit and security of all members and creditors of such motor club; or

(b)

A surety bond, in the principal sum of $100,000, which meets the requirements of NRS 696A.090, issued by a bonding company authorized to do business in the State of Nevada and in the state where the bond is posted.

Source: Section 696A.080 — Deposit and maintenance of security: Form; amount., https://www.­leg.­state.­nv.­us/NRS/NRS-696A.­html#NRS696ASec080.

696A.010
Short title.
696A.020
Definitions.
696A.030
Acts constituting service.
696A.040
“Club agent” defined.
696A.050
“Motor club” defined.
696A.060
“Person” defined.
696A.070
“Service contract” defined.
696A.080
Deposit and maintenance of security: Form
696A.090
Purpose and conditions of security.
696A.100
Persons authorized to sue on bond.
696A.110
Deposit in lieu of bond: Conditions
696A.120
Name of club: Submission to Commissioner
696A.130
Necessity for certificate.
696A.140
Certificate of authority: Application
696A.150
Certificate of authority: Expiration
696A.160
Certificate of authority: Revocation or suspension
696A.170
Examination.
696A.180
Commissioner to be appointed attorney upon whom process may be served
696A.185
Annual filing requirements
696A.190
Information for members
696A.200
Approval of forms.
696A.210
Required provisions.
696A.220
Solicitation for club without certificate of authority.
696A.230
Misrepresentation.
696A.240
Contract contrary to provisions of law valid.
696A.250
Necessity for agent’s license.
696A.260
Application for license: Contents.
696A.270
Conditions for issuance and renewal of license.
696A.280
Qualifications for license.
696A.290
Form and contents of license.
696A.300
Term of license
696A.303
Payment of child support: Statement by applicant for license
696A.307
Suspension of license for failure to pay child support or comply with certain subpoenas or warrants
696A.310
Suspension or revocation of or refusal to renew license of club agent.
696A.320
Revocation, suspension or refusal of licenses of firms, partnerships or corporations.
696A.330
Surrender of certificate after revocation or suspension of license.
696A.340
Exemptions.
696A.350
Penalties.
696A.360
Applicability of other provisions.
Last Updated

Feb. 5, 2021

§ 696A.080’s source at nv​.us