NAC706.3752. Leasing of taxicab to independent contractor: Security deposit.

     1. A certificate holder may, as a condition of leasing a taxicab to an independent contractor, require the independent contractor to deposit money with the certificate holder in an amount sufficient to secure the return of the taxicab in good condition.

     2. If a certificate holder collects a security deposit pursuant to subsection 1, the certificate holder shall ensure that the security deposit is maintained in an account separate from the account in which the operating capital of the certificate holder is maintained.

     3. A certificate holder may deduct or retain money from a security deposit to make repairs to the taxicab for which the deposit was collected. The certificate holder must account for money that the certificate holder deducts or retains from the security deposit of the independent contractor with receipts that evidence repairs to the taxicab in an amount equal to the money deducted or retained.

     (Added to NAC by Transportation Serv. Auth. by R078-98, eff. 1-28-99)