owner or lienholder in the vehicle, whether or not for compensation.

a registered owner or lienholder of a vehicle and a consignee to whom

the vehicle has been entrusted by consignment for the purpose of sale

that specifies the terms and conditions of the consignment and sale.

1. The names of the consignor and consignee;

2. The date on which the consignment contract was entered into;

3. A complete description of the vehicle subject to the consignment

contract, including the vehicle identification number, the year, make and

model of the vehicle, and the number of miles registered on the odometer

of the vehicle at the time that the consignment contract is entered into;

4. The term of the consignment contract;

5. The name of each person or business entity holding any security

interest in the vehicle to be consigned;

6. The minimum sales price for the vehicle and the disposition of the

proceeds therefrom, as agreed upon by the consignor and consignee; and

7. The signatures of the consignor and consignee acknowledging all

the terms and conditions set forth in the consignment contract.

consignment contract or other form of agreement to sell a vehicle owned

by another person, open and maintain a separate trust account in a

federally insured bank or savings and loan association that is located in

this state, into which the consignee shall deposit all money received from

a prospective buyer as a deposit, or as partial or full payment of the

purchase price agreed upon, toward the purchase or transfer of interest

in the vehicle. A consignee of a vehicle shall not:

(a) Commingle the money in the trust account with any other money

that is not on deposit or otherwise maintained toward the purchase of the

vehicle subject to the consignment contract or agreement; or

(b) Use any money in the trust account to pay his operational

expenses for any purpose that is not related to the consignment contract

or agreement.

2. Upon the sale or transfer of interest in the vehicle, the consignee

shall forthwith:

(a) Satisfy or cause to be satisfied all outstanding security interests in

the vehicle; and

(b) Satisfy the financial obligations due the consignor pursuant to the

consignment contract.

3. Upon the receipt of money by delivery of cash, bank check or

draft, or any other form of legal monetary exchange, or after any form of

transfer of interest in a vehicle, the consignee shall notify the consignor

that the money has been received or that a transfer of interest in the

vehicle has occurred. Notification by the consignee to the consignor must

be given in person or, in the absence of the consignor, by registered or

certified mail addressed to the last address or residence of the consignor

known to the consignee. The notification must be made within 3 business

days after the date on which the money is received or the transfer of

interest in the vehicle is made.

4. The provisions of this section do not apply to an executor, an

administrator, a sheriff or any other person who sells a vehicle pursuant

to the powers or duties granted to or imposed on him by specific statute.

5. Notwithstanding any provision of NRS 482.423 to 482.4245,

inclusive, and section 1 of Senate Bill No. 209 of this session, to the

contrary, a vehicle subject to a consignment contract may not be

operated by the consignee, an employee or agent of the consignee, or a

prospective buyer in accordance with NRS 482.423 to 482.4245,

inclusive, and section 1 of Senate Bill No. 209 of this session by

displaying a special permit or temporary placard to operate the vehicle

unless such operation of the vehicle is authorized by the express written

consent of the consignor.

6. A vehicle subject to a consignment contract may not be operated

by the consignee, an employee or agent of the consignee, or a prospective

buyer in accordance with NRS 482.320 by displaying a special plate

unless such operation of the vehicle is authorized by the express written

consent of the consignor.

7. A consignee shall maintain a written log for each vehicle for

which he has entered into a consignment contract. The written log must

include:

(a) The name and address, or place of residence, of the consignor;

(b) A description of the vehicle consigned, including the year, make,

model and serial or identification number of the vehicle;

(c) The date on which the consignment contract is entered into;

(d) The period that the vehicle is to be consigned;

(e) The minimum agreed upon sales price for the vehicle;

(f) The approximate amount of money due any lienholder or other

person known to have an interest in the vehicle;

(g) If the vehicle is sold, the date on which the vehicle is sold;

(h) The date that the money due the consignor and the lienholder was

paid;

(i) The name and address of the federally insured bank or savings and

loan association in which the consignee opened the trust account

required pursuant to subsection 1; and

(j) The signature of the consignor acknowledging that the terms of the

consignment contract were fulfilled or terminated, as appropriate.

8. A person who:

(a) Appropriates, diverts or otherwise converts to his own use money

in a trust account opened pursuant to subsection 1 or otherwise subject to

a consignment contract or agreement is guilty of embezzlement and shall

be punished in accordance with NRS 205.300. The court shall, in

addition to any other penalty, order the person to pay restitution.

(b) Violates any other provision of this section is guilty of a

misdemeanor.