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Nevada Revised Statutes Title 40. Public Health and Safety § 445B.807. Consignment auction: Qualifying event; certification of auctioneer; regulations

Current as of January 01, 2025 | Updated by Findlaw Staff

1. To qualify as a consignment auction for the purposes of subsection 5 of NRS 445B.805, an event must be:

(a) A live auction with an auctioneer verbally calling for and accepting bids; or

(b) An auction conducted on an auction website on the Internet by a person who is certified pursuant to subsection 2 and who is:

(1) A vehicle dealer licensed pursuant to NRS 482.325; or

(2) A salvage pool licensed pursuant to NRS 487.410.

2. A person may obtain certification for the purposes of paragraph (b) of subsection 1 by:

(a) Applying to the Department of Motor Vehicles;

(b) Providing evidence satisfactory to the Department that the person is licensed as a vehicle dealer pursuant to NRS 482.325 or as a salvage pool pursuant to NRS 487.410;

(c) Providing evidence satisfactory to the Department that at least 51 percent of the motor vehicles sold by the person in the calendar year immediately preceding the date of the person's application were sold on behalf of another person and were sold using:

(1) A live auction with an auctioneer verbally calling for and accepting bids; or

(2) An auction conducted on an auction website on the Internet by the person; and

(d) Providing any other information or documentation required by the Department.

3. The Department may adopt any regulations necessary to carry out the provisions of this section, including, without limitation, providing procedures for the application for and the granting of a certification pursuant to this section and providing for the expiration and renewal of the certification.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 40. Public Health and Safety § 445B.807. Consignment auction: Qualifying event; certification of auctioneer; regulations - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-40-public-health-and-safety/nv-rev-st-445b-807/

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