Nev. Admin. Code § 616B.552 - Deposit of bond by association's administrator; minimum and maximum amount of bond; filing of statement regarding association's money
1. Except as otherwise provided in subsection
2, an association's administrator shall deposit with the Commissioner a bond in
the amount of $1,000 for each $100,000, or portion thereof, of the
association's money which he or she will control.
2. The minimum bond required pursuant to this
section is $100,000. The maximum bond required pursuant to this section is
$1,000,000.
3. On or before April 1
of each year, the association's administrator shall file with the Commissioner
a statement of the actual amount of the association's money that he or she
controlled in the previous calendar year and the amount of the association's
money that he or she expects to control in the next calendar year.
Notes
NRS 616B.353, 616B.446, 679B.130
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.