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Nevada Revised Statutes Title 52. Trade Regulations and Practices § 598.515. Release of security if tour broker or tour operator ceases to operate

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

1. If no claims have been filed against the security deposited with the Unit pursuant to NRS 598.495 within 6 months after the tour broker or tour operator ceases to operate, the Commissioner shall release the security to the tour broker or tour operator and shall not audit any claims filed against the security thereafter by consumers.

2. If one or more claims have been filed against the security within 6 months after the tour broker or tour operator ceases to operate, the proceeds must not be released to the tour broker or tour operator or distributed to any consumer earlier than 1 year after the tour broker or tour operator ceases to operate.

3. For the purposes of this section, the Commissioner shall determine the date on which a tour broker or tour operator ceases to operate.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 52. Trade Regulations and Practices § 598.515. Release of security if tour broker or tour operator ceases to operate - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-52-trade-regulations-and-practices/nv-rev-st-598-515/

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