NAC519A.625. Forfeiture of bond: Action against participant or former participant.

In the event of a forfeiture by a participant or a former participant whose participation in the bond pool is terminated pursuant to NAC 519A.605, the Administrator or a person designated by the Administrator will immediately notify the Attorney General and request that action be taken against the participant or former participant in the name of the State of Nevada in any court of competent jurisdiction to recover the full costs incurred by the bond pool as a result of the forfeiture. Any money recovered must be deposited in the bond pool and used for the general purposes of the bond pool.

     (Added to NAC by Dep’t of Minerals, eff. 10-9-90; A by Div. of Minerals, 11-14-97)