1. In lieu of securing a license to hold, operate, conduct or carry on a public livestock auction pursuant to NRS 573.020, a person who wishes to conduct an annual sale of livestock may submit an application to the Department for the issuance of a limited license to conduct such a sale. The application must be submitted on a form furnished or approved by the Department and must include:

(a) The name and address of the applicant who will conduct the annual sale of livestock;

(b) The location of the establishment or premises where the applicant will conduct the annual sale of livestock; and

(c) Any other information required by the Department.

2. As soon as practicable after receiving an application pursuant to subsection 1, the Department shall issue a limited license to conduct an annual sale of livestock to the applicant if the Department finds that the applicant has:

(a) Delivered to the Director a surety bond pursuant to NRS 573.033 or a deposit receipt pursuant to NRS 573.037;

(b) Paid the fee established by regulation of the State Board of Agriculture for the limited license to conduct an annual sale of livestock pursuant to NRS 573.040; and

(c) Otherwise complied with the provisions of this chapter.

3. A limited license to conduct an annual sale of livestock is valid for the period for which it is issued. A person may not obtain more than one limited license to conduct an annual sale of livestock during the same calendar year.

4. The Department shall:

(a) Limit the required duration of any surety bond or deposit receipt submitted pursuant to paragraph (a) of subsection 2 to the period during which the annual sale of livestock is conducted by the licensee.

(b) Set the amount of the surety bond or deposit receipt at an amount which:

(1) Must be based on the amount of bond coverage calculated for a market agency pursuant to 9 C.F.R. § 201.30(a); and

(2) May be less than the amount otherwise required pursuant to NRS 573.033 or 573.037.

(Added to NRS by 2019, 2609)