Nev. Admin. Code § 490.310

Current through November 25, 2024

Section 490.310 - Sale of used off-highway vehicle: Contents of report of sale; duties of seller

1. An off-highway vehicle dealer's report of sale completed and executed pursuant to NRS 490.440 for the sale of a used off-highway vehicle must include:

(a) A description of the off-highway vehicle;

(b) The name and address of the seller;

(c) The business license number of the seller; and

(d) The name and address of the buyer.

2. If a security interest exists at the time of the sale, or if, in connection with the sale, a security interest is taken or retained by the seller to secure all or part of the purchase price, or a security interest is taken by a person who gives value to enable the buyer to acquire rights in the off-highway vehicle, the name and address of the secured party must be included in the report of sale.

3. Unless an extension of time is granted by the Department pursuant to NAC 490.095, the seller shall:

(a) Collect the fees required for:

(1) A certificate of title for an off-highway vehicle present or registered in this State pursuant to NAC 490.360; and

(2) The processing of the report of sale pursuant to NAC 490.360; and

(b) Within 30 days after the execution of the report of sale:

(1) Submit to the Department by mail the original of the report of sale and the endorsed certificate of title previously issued for the off-highway vehicle; and

(2) Remit to the Department by mail the fees collected pursuant to paragraph (a).

4. To establish compliance with the period required by paragraph (b) of subsection 3, the Department will use the date imprinted or otherwise indicated on the report of sale as the beginning date of the 30-day period.

5. Upon execution of all documents required to complete the sale of the off-highway vehicle, including, without limitation, any financial documents, the seller shall execute the report of sale and furnish a copy of the report of sale to the buyer not more than 10 days after the date imprinted or otherwise indicated on the report of sale.

Nev. Admin. Code § 490.310

Added to NAC by Dep't of Motor Veh. by R130-11, 6-29-2012, eff. 7-1-2012

NRS 481.051, 490.066, 490.440, 490.500