NAC576.080. Amount of required bond.  


Latest version.
  •      1. The amount of bond, security or deposit required of a person licensed to act as a dealer, broker or commission merchant is based on the annual volume of his purchases, as follows:

         (a) For a buyer of farm produce:

    Annual Volume

    of Purchase

    Amount

    of Bond

    Under $200,000 .....................................................................................................

    $10,000

    From $200,000 to $600,000 ...................................................................................

    12,000

    Over $600,000 ........................................................................................................

    15,000

         (b) For a buyer of livestock:

    Annual Volume

    of Purchase

    Amount

    of Bond

    $1

    -

        $650,000 ....................................................................................

    $5,000

    650,001

    -

          730,000 ....................................................................................

    6,000

    730,001

    -

       1,040,000 ....................................................................................

    8,000

    1,040,001

    -

       1,300,000 ....................................................................................

    10,000

    1,300,001

    -

       1,560,000 ....................................................................................

    12,000

    1,560,001

    -

       1,820,000 ....................................................................................

    14,000

    1,820,001

    -

       2,080,000 ....................................................................................

    16,000

    2,080,001

    -

       2,340,000 ....................................................................................

    18,000

    2,340,001

    -

       2,600,000 ....................................................................................

    20,000

    2,600,001

    -

       2,860,000 ....................................................................................

    22,000

    2,860,001

    -

       3,120,000 ....................................................................................

    24,000

    3,120,001

    -

       3,380,000 ....................................................................................

    26,000

    3,380,001

    -

       3,900,000 ....................................................................................

    30,000

    3,900,001

    -

       4,450,000 ....................................................................................

    35,000

    4,450,001

    -

       5,200,000 ....................................................................................

    40,000

    5,200,001

    -

       6,500,000 ....................................................................................

    50,000

    6,500,001

    -

    13,000,000 ....................................................................................

    55,000

    13,000,001

    -

    19,500,000 ....................................................................................

    60,000

    19,500,001

    -

    26,000,000 ....................................................................................

    65,000

    26,000,001

    -

    32,500,000 ....................................................................................

    70,000

    32,500,001

    -

    39,000,000 ....................................................................................

    75,000

    39,000,001

    -

    45,500,000 ....................................................................................

    80,000

    45,500,001

    -

    52,000,000 ....................................................................................

    85,000

    52,000,001

    -

    53,500,000 ....................................................................................

    90,000

    53,500,001

    -

    65,000,000 ....................................................................................

    95,000

    65,000,001

    -

    71,500,000 ....................................................................................

    100,000

         2. The bond, security or deposit of any licensee whose license was issued before January 9, 1981, may be continued in force with the lower amount previously established, but the amount required by this section must be provided upon renewal of the license.

     (Added to NAC by Dep’t of Agriculture, eff. 1-9-81)—(Substituted in revision for NAC 576.040)