573.105 - Line of credit: Duty of Department to ascertain continued existence and amount or replacement; suspension of license for failure to maintain. - Nevada Statutes

573.105  Line of credit: Duty of Department to ascertain continued existence and amount or replacement; suspension of license for failure to maintain.  The Director shall ascertain, at least quarterly, the continued existence and amount of the line of credit shown pursuant to paragraph (g) of subsection 2 of NRS 573.020, or its replacement by a line of credit at another bank or credit union in the State of Nevada and the amount of the replacement. If the line of credit is replaced, the custodial account must be transferred to the bank or credit union issuing the new line of credit. If a line of credit in the amount required is not maintained, the Director shall suspend the operator’s license.

      (Added to NRS by 1965, 383; A 1993, 1754; 1999, 1515, 3693; 2001, 91)