1. Whenever the Administrator finds that the collection of any contribution computed under the provisions of law will be jeopardized by delay, the Administrator may immediately assess the contribution together with all forfeit and interest which may have accrued, whether or not the final date otherwise prescribed for making the contribution has arrived. Upon assessment, the contribution is immediately due, the contributions together with all forfeit and interest which may have accrued are immediately payable, and notice of demand for payment must be made upon the employer for the payment thereof. Upon failure or refusal to pay the assessed contribution, forfeit and interest, collection thereof may be enforced according to the provisions of law applicable to the collection of unpaid contributions.

2. When a jeopardy assessment has been made as provided in subsection 1, the employer may stay its collection until such time as the contributions for the period in question would normally become due, by filing a bond with the Administrator which is executed by the employer as principal, and by a corporation qualified under the laws of this State as surety, payable to the State of Nevada and conditioned on the payment of the contribution at the proper time. The amount of the required security must be equal to the amount of the assessment, rounded off to the next larger integral multiple of $100.

3. In lieu of a bond, the employer may deposit with the Administrator a like amount of lawful money of the United States or any other form of security authorized by NRS 100.065. If security is provided in the form of a savings certificate, certificate of deposit or investment certificate, the certificate must state that the amount is not available for withdrawal except upon order of the Administrator.

[Part 14 1/2:129:1937; added 1939, 115; renumbered 14.1:129:1937 and A 1941, 412; A 1949, 257; 1955, 698] — (NRS A 1967, 855; 1989, 1077; 1993, 1848)