NAC485.070. Approval or denial of application; expiration and transfer of certificate.

     1. No application will be approved unless:

     (a) The Department receives a true, complete and correct application;

     (b) The applicant provides appropriate security of a type set forth in NAC 485.090 in the amount determined by the Department pursuant to NAC 485.080;

     (c) The Department is satisfied that the applicant can pay any judgment for which it may become liable;

     (d) The Department determines that the loss record of the applicant, if any, is reasonable and not excessive; and

     (e) All vehicles that the applicant wishes to self-insure are registered in this State.

     2. No certificate of self-insurance may be issued or approved for an applicant whose previous certificate of self-insurance was cancelled within 1 year after the date of the application for any of the reasons stated in paragraphs (d) to (g), inclusive, of subsection 1 of NAC 485.120.

     3. The Director or the authorized representative will review and approve or disapprove an application for a certificate of self-insurance. If the application is approved, the Director or authorized representative will issue a certificate to the applicant. The certificate is valid for 1 year after the date the application is approved, and the day and month of the expiration of the certificate must, to the extent practicable, remain the day and month of expiration of each renewal of the certificate.

     4. The Department will notify the applicant by certified mail if his or her application is denied. The notice will include the reason for the denial.

     5. A certificate of self-insurance is not transferable.

     [Dep’t of Motor Veh., Self-insurance Reg. § V, eff. 4-29-82]—(NAC A by R162-01, 2-12-2002; R164-03, 10-31-2005)