NAC611.060. Surety bonds and savings certificates.

Latest version.

1. A licensee that elects to deposit a surety bond with the Labor Commissioner pursuant to NRS 611.070 must notify the Labor Commissioner of any changes in coverage provided by the bond not later than 1 business day after the licensee becomes aware of the change. Failure to inform the Labor Commissioner of such a change is a ground for revocation of a license.

2. A licensee that elects to deposit a savings certificate with the Labor Commissioner pursuant to paragraph (b) of subsection 3 of NRS 611.070 must provide a statement signed by an officer of the bank, credit union or savings and loan association that issued the savings certificate, certifying that the terms and conditions of the savings certificate comply fully with the requirements of NRS 611.070.

(Added to NAC by Labor Comm’r by R089-04, eff. 8-4-2004)

                    
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