Nev. Admin. Code § 334.140 - Hearing to appeal denial or withdrawal of approval of contract: Posting or submission and disposition of bond or other security
1. A registered organization that requests a hearing pursuant to subsection 3 of NAC 334.110 or subsection 2 of NAC 334.120 must:
(a) Post a bond with a solvent surety authorized to do business in this State; or
(b) Submit to the Administrator other security that is approved by the Administrator.
2. A bond posted or other security submitted pursuant to subsection 1 must be in an amount equal to 25 percent of the estimated total value of the contract or amendment for which the denial or withdrawal of approval is being appealed. At the request of a registered organization posting or submitting a bond or security, the Administrator shall provide to the registered organization:
(a) The estimated total value of the contract or amendment for which the denial or withdrawal of approval is being appealed; and
(b) The method for determining the estimated total value of the contract or amendment.
3. The Administrator shall hold a bond or other security posted or submitted pursuant to subsection 1 until a determination on the appeal has been made by the hearing officer assigned to hear the appeal.
4. If the hearing officer finds in favor of the registered organization, the bond or other security will be returned to the registered organization within 30 days after the finding.
5. If the hearing officer does not find in favor of the registered organization, the Division will make a claim against the bond or other security for an amount equal to the expenses incurred by the Division in defending the appeal. Such a claim must be heard by the hearing officer that was assigned to hear the appeal or another hearing officer of the Hearings Division of the Department of Administration. Any amount of the bond or other security not awarded to the Division as part of the claim will be returned to the registered organization within 30 days after the hearing on the claim.
Notes
NRS 334.025
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