For the purposes of NRS 706.3056, the Department may accept from the operator of a taxicab any one of the following forms of security, or any combination thereof:
1. A time certificate of deposit with any bank or credit union licensed or chartered by this State or the Federal Government, made payable to the operator and the Department.
2. Bonds and securities issued or guaranteed by the Federal Government made payable to the operator and the Department.
3. A deposit in an amount required by NRS 706.3056 made with the State Treasurer, with the Department appointed as trustee of the deposit.
4. A surety bond submitted on behalf of the operator by any surety company authorized to transact business in this State.
5. Any other form of security, including the net worth of the operator, which is acceptable to the Department.
(Added to NRS by 1989, 1785; A 1999, 1555)
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.