Nevada § 366.245 - Agreement with special fuel user or service provider for issuance and renewal of license and issuance of identifying device; surety bond; alternatives to surety bond; cancellation of agreement; regulations

§ 366.245. Agreement with special fuel user or service provider for issuance and renewal of license and issuance of identifying device; surety bond; alternatives to surety bond; cancellation of agreement; regulations

1. Upon the request of a special fuel user or a service provider, the Department may

enter into an agreement with the special fuel user or service provider which authorizes

the special fuel user or service provider to license a special fuel user or renew

a special fuel user's license and issue the identifying device required by NRS 366.265 , if applicable. 2. Before licensing a special fuel user, renewing a special fuel user's license or

issuing an identifying device pursuant to subsection 1: (a) A special fuel user who enters into an agreement with the Department pursuant

to this section shall file with the Department a bond of a surety company authorized

to transact business in this State for the benefit of this State in an amount not

less than $25,000; and (b) A service provider who enters into an agreement with the Department pursuant to

this section shall file with the Department a bond of a surety company authorized

to transact business in this State for the benefit of this State in an amount not

less than $50,000. 3. If a special fuel user or service provider provides a savings certificate, certificate

of deposit or investment certificate pursuant to NRS 100.065 in lieu of the bond required pursuant to subsection 2, the certificate must state

that the amount is not available for withdrawal except upon the approval of the Director

of the Department. 4. If at any time a special fuel user or service provider is unable to account for

an unissued license or an identifying device, the special fuel user or service provider

must immediately pay to the Department an amount established by the Department. 5. The Department may cancel an agreement entered into pursuant to this section with

any special fuel user or service provider for refusing or neglecting to comply with

the provisions of this chapter. 6. The Director shall adopt such regulations as are necessary to carry out the provisions

of this section. 7. As used in this section, “ service provider ” means a business or organization authorized by the Department to license a special

fuel user or renew a special fuel user's license on behalf of a special fuel user.