Section 445B.467 - Authorized station or authorized inspection station: Disbursement, release or refund of bond or depositA bond which is filed or a deposit which is made with the Department pursuant to NAC 445B.465 may be:
1. Disbursed by the Director, for good cause shown and after notice and hearing, in an amount determined by the Director to compensate a person injured by an action of the licensee.2. Released by the Director upon the receipt by the Department of a statement:(a) Signed by a person under whose name the bond or deposit is made;(b) Acknowledged before any person authorized to take such acknowledgments in this State;(c) Requesting that the Director release the bond or deposit, or a specified portion thereof; and(d) Explaining the purpose for which the release of the bond or deposit is requested.3. Refunded by the Director: (a) Automatically 1 year after the date on which the business is terminated if the Director determines that there are no outstanding claims against the bond or deposit; or(b) Pursuant to the order of a court of competent jurisdiction.Nev. Admin. Code § 445B.467
Added to NAC by Environmental Comm'n & Dep't of Motor Veh. & Pub. Safety, 11-23-87, eff. 1-1-88; A by Dep't of Motor Veh. & Pub. Safety, 8-19-94; R079-98, 9-25-98NRS 445B.210, 445B.770, 445B.785