NAC361.928. Consequences of fraudulent misrepresentation or omission of information relating to application or installment agreement.

     1. If the State Treasurer determines that a titleholder has fraudulently misrepresented or omitted any information relating to an application or installment agreement, the State Treasurer may deny the application, cancel the installment agreement or revoke the certificate.

     2. If the State Treasurer cancels the installment agreement, the State Treasurer will so notify the titleholder and:

     (a) Prepare a refund in the manner and subject to the provisions set forth in NRS 361.900 for a refund upon the rescission of an installment agreement; and

     (b) Remit the refund to the titleholder within 90 days.

     3. If the State Treasurer revokes the certificate, the State Treasurer will so notify the titleholder and:

     (a) Prepare a refund in the manner and subject to the provisions set forth in NRS 361.915 for a refund upon the relinquishment of allodial title; and

     (b) Remit the refund to the titleholder within 90 days.

     (Added to NAC by St. Treasurer by R088-01, eff. 10-22-2001)