(REPRINTED WITH ADOPTED AMENDMENTS)

 

Assembly Bill No. 320–Assemblywoman Buckley

 

March 12, 2001

____________

 

Referred to Committee on Transportation

 

SUMMARY—Revises certain provisions regarding motor vehicles. (BDR 43‑1096)

 

FISCAL NOTE:            Effect on Local Government: No.

                                    Effect on the State: Yes.

 

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EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.

 

AN ACT relating to the department of motor vehicles and public safety; requiring the department to retain for a specified period the originals of certain documents containing the disclosure of the mileage of a motor vehicle; revising provisions regarding the bonds required for certain licensees; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

 

1-1    Section 1. NRS 482.173 is hereby amended to read as follows:

1-2    482.173  1.  Notwithstanding the provisions of any schedule for the

1-3  retention and disposition of official state records to the contrary, the

1-4  director shall ensure that the department retains the originals of:

1-5    (a) Certificates of ownership that are submitted to the department for

1-6  the registration of a vehicle which has been sold or transferred; and

1-7    (b) Forms for a power of attorney that are submitted to the department

1-8  pursuant to subsection 2 of NRS 482.415,

1-9  for at least 1 year after the date on which such documents are received by

1-10  the department.

1-11    2.  Notwithstanding the provisions of NRS 239.080, the director may

1-12  order the destruction of [certificates] :

1-13    (a) Certificates of registration 1 year after they are no longer effective.

1-14    [2.] (b) Certificates of ownership and forms for a power of attorney

1-15  which are retained pursuant to subsection 1 after the expiration of the

1-16  1‑year period set forth in that subsection.

1-17    3.  The department shall keep a record showing when [such]

1-18  certificates of registration, certificates of ownership and forms for a

1-19  power of attorney are destroyed.

1-20    Sec. 2.  NRS 482.3333 is hereby amended to read as follows:

1-21    482.3333  1.  Before a person may be licensed as a broker, he must

1-22  procure and file with the department a good and sufficient bond in the

2-1  amount of $50,000 with a corporate surety thereon licensed to do business

2-2  within the State of Nevada, approved as to form by the attorney general,

2-3  and conditioned that the applicant shall conduct his business as a broker

2-4  without breaching a contract or engaging in a deceptive trade practice,

2-5  fraud or fraudulent representation, and without violation of the provisions

2-6  of this chapter. The department may, by agreement with any broker who

2-7  has been licensed as a broker for 5 years or more, allow a reduction in the

2-8  amount of the bond if his business has been conducted satisfactorily for the

2-9  preceding 5 years, but no bond may be in an amount less than $5,000.

2-10    2.  The bond must be continuous in form and the total aggregate

2-11  liability on the bond must be limited to the payment of the total amount of

2-12  the bond . [, but in no case may the amount of any judgment in an action on

2-13  such a bond exceed the retail value of any vehicle in connection with

2-14  which the action was brought.]

2-15    3.  The undertaking on the bond includes any breach of contract,

2-16  deceptive trade practice, fraud , [or] fraudulent representation or violation

2-17  of any of the provisions of this chapter by any employee of the licensed

2-18  broker who acts on behalf of the broker and within the scope of his

2-19  employment.

2-20    4.  The bond must provide that any person injured by the action of the

2-21  broker or his employee in violation of any provision of this chapter may

2-22  bring an action on the bond.

2-23    Sec. 3.  NRS 482.345 is hereby amended to read as follows:

2-24    482.345  1.  Except as otherwise provided in subsection 6, before any

2-25  dealer’s license, dealer’s plate, special dealer’s plate, rebuilder’s license or

2-26  rebuilder’s plate, distributor’s license or distributor’s plate or

2-27  manufacturer’s license or manufacturer’s plate is furnished to a

2-28  manufacturer, distributor, dealer or rebuilder as provided in this chapter,

2-29  the department shall require that the applicant make an application for such

2-30  a license and plate upon a form to be furnished by the department, and the

2-31  applicant shall furnish such information as the department requires,

2-32  including proof that the applicant has an established place of business in

2-33  this state, and also, except as otherwise provided in subsection 2, procure

2-34  and file with the department a good and sufficient bond in the amount of

2-35  $50,000 with a corporate surety thereon, duly licensed to do business

2-36  within the State of Nevada, approved as to form by the attorney general,

2-37  and conditioned that the applicant shall conduct his business as a dealer,

2-38  distributor, manufacturer or rebuilder without breaching a contract or

2-39  engaging in a deceptive trade practice, fraud or fraudulent representation,

2-40  and without violation of the provisions of this chapter. The department

2-41  may, by agreement with any dealer, distributor, manufacturer or rebuilder

2-42  who has been in business for 5 years or more, allow a reduction in the

2-43  amount of the bond of the dealer, if his business has been conducted

2-44  satisfactorily for the preceding 5 years, but no bond may be in an amount

2-45  less than $5,000.

2-46    2.  A manufacturer, distributor, rebuilder or dealer who manufactures,

2-47  distributes or sells only motorcycles, horse trailers, tent trailers, utility

2-48  trailers or trailers designed to carry boats shall file a bond as required by

3-1  subsection 1 in the amount of $5,000 regardless of the length of time he

3-2  has been in business.

3-3    3.  The bond must be continuous in form and the total aggregate

3-4  liability on the bond must be limited to the payment of the total amount of

3-5  the bond . [, but in no case may the amount of any judgment in an action on

3-6  such a bond exceed the retail value of any vehicle in connection with

3-7  which the action was brought.]

3-8    4.  The undertaking on the bond includes any breach of contract,

3-9  deceptive trade practice, fraud , [or] fraudulent representation or violation

3-10  of any of the provisions of this chapter by the representative of any

3-11  licensed distributor or the salesman of any licensed dealer, manufacturer or

3-12  rebuilder who acts for the dealer, distributor, manufacturer or rebuilder on

3-13  his behalf and within the scope of the employment of the representative or

3-14  the salesman.

3-15    5.  The bond must provide that any person injured by the action of the

3-16  dealer, distributor, rebuilder, manufacturer, representative or salesman in

3-17  violation of any provisions of this chapter may apply to the director, for

3-18  good cause shown and after notice and opportunity for hearing, for

3-19  compensation from the bond. The director may determine the amount of

3-20  compensation and the person to whom it is to be paid. The surety shall then

3-21  make the payment.

3-22    6.  The provisions of this section do not apply to a manufacturer

3-23  without an established place of business in this state.

3-24    Sec. 4.  NRS 482.347 is hereby amended to read as follows:

3-25    482.347  1.  The vehicle dealer’s bond required by NRS 482.345

3-26  [covers] must cover the dealer’s principal place of business and all

3-27  branches operated by him [if:

3-28    1.  All of his places of business are located within one county; and

3-29    2.  All are operated under the same name.

3-30  For] , including, without limitation, any place of business operated in this

3-31  state by the dealer that is located outside the county of the dealer’s

3-32  principal office[,] or any place of business operated by the dealer under a

3-33  different name . [, the dealer shall procure a separate bond.]

3-34    2.  In addition to the coverage provided by the vehicle dealer’s bond

3-35  pursuant to subsection 1, the dealer shall procure a separate bond for:

3-36    (a) Each place of business operated in this state by the dealer that is

3-37  located outside the county of the dealer’s principal office; and

3-38    (b) Each place of business operated by the dealer under a different

3-39  name.

3-40    Sec. 5.  The amendatory provisions of sections 2, 3 and 4 of this act

3-41  apply to a license that is issued or renewed on or after December 31, 2001.

3-42    Sec. 6.  This act becomes effective on passage and approval.

 

3-43  H