Nevada § 482.2605 - Application for new certificate of title under certain circumstances; filing of bond with Department required; amount and form of bond; duties of Department

§ 482.2605. Application for new certificate of title under certain circumstances; filing of bond with Department required; amount and form of bond; duties of Department

1. If an applicant who is seeking a certificate of title to a vehicle from the Department

pursuant to subsection 3 of NRS 482.240, subsection 2 of NRS 482.260, subsection 1 of NRS 482.285 or subsection 1 of NRS 482.415 is unable to satisfy the Department that the applicant is entitled to a certificate

of title pursuant to those provisions, the applicant may obtain a new certificate

of title from the Department by: (a) Filing a bond with the Department that meets the requirements of subsection 3; (b) Allowing the Department to inspect the vehicle to verify the vehicle identification

number and identification numbers, if any, on parts used to repair the vehicle; and (c) Authorizing the Department to conduct a search of the history of the vehicle through

any national crime information system, including, without limitation, the: (1) National Crime Information Center, as defined in NRS 179A.061 ; and (2) National Motor Vehicle Title Information System of the United States Department

of Justice. 2. Any person damaged by the issuance of a certificate of title pursuant to this section

has a right of action to recover on the bond for any breach of its conditions, except

the aggregate liability of the surety to all persons must not exceed the amount of

the bond. The Department shall return the bond, and any deposit accompanying it, 3 years after

the bond was filed with the Department, except that the Department shall not return

the bond if the Department has been notified of the pendency of an action to recover

on the bond. 3. The bond required pursuant to subsection 1 must be: (a) In a form prescribed by the Department; (b) Executed by the applicant as principal and by a corporation qualified under the

laws of this State as surety; (c) In an amount equal to one and one-half times the value of the vehicle, as determined

by the Department; and (d) Conditioned to indemnify any: (1) Prior owner or lienholder of the vehicle, and his or her successors in interest; (2) Subsequent purchaser of the vehicle, and his or her successors in interest; or (3) Person acquiring a security interest in the vehicle, and his or her successors

in interest, against any expense, loss or damage because of the issuance of the certificate of

title or because of any defect in or undisclosed security interest in the applicant's

right or title to the vehicle or the applicant's interest in the vehicle. 4. A right of action does not exist in favor of any person by reason of any action

or failure to act on the part of the Department or any officer or employee thereof

in carrying out the provisions of this section, or in giving or failing to give any

information concerning the legal ownership of a vehicle or the existence of a title

obtained pursuant to this section. 5. An applicant seeking a certificate of title pursuant to this section may participate

in the electronic lien system authorized in NRS 482.4285 .