697.190 - Bonds. - Nevada Statutes

697.190  Bonds.

      1.  Each applicant for a license as a bail agent, bail solicitor or general agent must file with the application, and thereafter maintain in force while so licensed, a bond in favor of the people of the State of Nevada executed by an authorized surety insurer. The bond may be continuous in form with total aggregate liability limited to payment as follows:

      (a) Bail agent......................................................................................................... $25,000

      (b) Bail solicitor........................................................................................................ 10,000

      (c) General agent..................................................................................................... 50,000

      2.  The bond must be conditioned upon full accounting and payment to the person entitled thereto of money, property or other matters coming into the licensee’s possession through bail bond transactions under the license.

      3.  The bond must remain in force until released by the Commissioner, or cancelled by the surety. Without prejudice to any liability previously incurred under the bond, the surety may cancel the bond upon 30 days’ advance written notice to the licensee and the Commissioner.

      (Added to NRS by 1971, 1910; A 1991, 1017; 1997, 3386; 1999, 2819)