Nevada Secretary of State
Home
Close
Main2025 Popular Searches
Making a claim against a bond
Nevada Revised Statutes Chapter 240A.120 requires that a Document Preparation Service must file with the Secretary of State a surety or cash bond in the appropriate penal sum.
The surety bond must be executed by a company qualified and authorized to do business in this State, and it must cover the period of the registration of any registrant covered by the bond.
- The surety is required to give notice to the Secretary of State if they are releasing the bond or if the bond has been exhausted.
- If a claim against a bond is filed pursuant to NRS 240A.120, the claimant must notify the Secretary of State in writing upon filing the action.
- A claim against a bond filed pursuant to NRS 240A.120 may be filed in a court of competent jurisdiction for damages to the extent covered by the bond.
- A claim may not be brought against a bond after 3 years from the date of the act on which the action is based.
- Upon notification of filing, the Secretary of State shall notify the person whether the bond is in effect, the amount of the bond, and, if there is any other claim against the bond, shall notify the claimant of the title, court and case number of the actin and the amount sought by the plaintiff in the other action.
- Claims against a bond have equal priority. If a bond is insufficient to pay all claims in full, the claims must be paid on a pro rata basis.
- Any claimant may bring action against the registrant or business entity for the unpaid balance of the claim.
- The surety may make payment without awaiting action by the court, and may bring an action for inter pleader against all claims on the bond. Such action requires the surety to publish notice of the action at least once each week for 2 weeks in a newspaper of general circulation in the county of the principal place of the registrant or business entity.