NAC366.050. Amount required after notification of cancellation of surety bond.

     1. If the Department is notified that a surety bond of a special fuel supplier or special fuel dealer has been or may be cancelled, the Department will review the monthly tax returns of that special fuel supplier or special fuel dealer:

     (a) For the 24 months immediately preceding the review; or

     (b) If the special fuel supplier or special fuel dealer has been in business less than 24 months, for the period he or she has operated his or her business,

Ê to determine the amount of security he or she will be required to provide.

     2. Within 15 days after the Department receives notice that the bond has been or may be cancelled, the Department will notify the special fuel supplier or special fuel dealer of the amount of security required to retain his or her license. If the special fuel supplier or special fuel dealer does not provide the security required by the Department within 15 days after receiving notice of the amount of security required, the Department will revoke the license of the special fuel supplier or special fuel dealer.

     (Added to NAC by Dep’t of Motor Veh. & Pub. Safety, 12-15-94, eff. 7-1-95; A 3-28-96; R096-00, 3-1-2001)