Section 706.250 - Agreement to manage business of authorized carrier1. An authorized carrier may, with the prior approval of the Authority, enter into an agreement with a person who is not his or her employee to manage his or her business. The agreement may be for a period of not more than 1 year, but may be renewed.2. An agreement to manage a carrier's business must:(a) Be filed with the Authority;(b) Specify the compensation paid to the manager;(c) Specify the term of the agreement;(d) Specify the scope of the authority that the person will have to manage the business of the carrier; and(e) Specify any other information required by the Authority.3. The compensation paid to the manager may include a limited bonus in the form of cash or stock, or both, to be paid upon the occurrence of a specified condition.4. Any agreement which: (a) Includes a bonus to the manager of more than 10 percent of the carrier's stock; or(b) Grants to the manager total control of the overall operations of the carrier, will be considered an attempted transfer of a certificate, permit or license and will not be approved.
5. A background investigation of the manager selected by the carrier may be conducted by the Authority as part of its process in determining whether to grant approval.Nev. Admin. Code § 706.250
Added to NAC by Pub. Service Comm'n, eff. 9-1-87; A by Transportation Serv. Auth. by R071-98, 10-28-98; R040-02, 9-20-2002