Nevada § 598.8541 Release of security if registrant ceases to operate or registration expires

Nevada Statutes

§ 598.8541 — Release of security if registrant ceases to operate or registration expires

Nevada § 598.8541

Title 52TRADE REGULATIONS AND PRACTICES

Ch. 598Deceptive

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This text of Nevada § 598.8541 (Release of security if registrant ceases to operate or registration expires) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 598.8541 (2026).

Text

1.If no claims have been filed against the security deposited with the Unit pursuant to NRS 598.853 within 6 months after the registrant ceases to operate or his or her registration expires, whichever occurs later, the Commissioner shall release the security to the registrant and shall not audit any claims filed against the security thereafter by consumers.

2.If one or more claims have been filed against the security within 6 months after the registrant ceases to operate or his or her registration expires, whichever occurs later, the proceeds must not be released to the registrant or distributed to any consumer earlier than 1 year after the registrant ceases to operate or his or her registration expires, whichever occurs later.

3.For the purposes of this section, the Commissioner shall

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1. If no claims have been filed against the security deposited with the Unit pursuant to NRS 598.853 within 6 months after the registrant ceases to operate or his or her registration expires, whichever occurs later, the Commissioner shall release the security to the registrant and shall not audit any claims filed against the security thereafter by consumers.
2. If one or more claims have been filed against the security within 6 months after the registrant ceases to operate or his or her registration expires, whichever occurs later, the proceeds must not be released to the registrant or distributed to any consumer earlier than 1 year after the registrant ceases to operate or his or her registration expires, whichever occurs later.
3. For the purposes of this section, the Commissioner shall determine the date on which a registrant ceases to operate.