1. Each licensed importer, brewer or wine maker shall furnish a bond executed by him or her as principal, and by a corporation qualified under the laws of this State as surety, payable to the State of Nevada, and conditioned upon the payment of all excise taxes due or to become due from him or her under the provisions of this chapter. Each bond must be in a principal sum equal to the greatest excise tax paid by the importer, brewer or wine maker in any quarter of the preceding year, or if such a standard is not available, then in a sum required from a licensee operating under conditions deemed comparable by the Department. In no case may a bond be for an amount less than $1,000. When cash or a savings certificate, certificate of deposit or investment certificate is used, the amount required must be rounded off to the next larger integral multiple of $100.

2. In lieu of a bond a licensed importer, brewer or wine maker may deposit with the Department, under such terms as the Department may prescribe, a like amount of lawful money of the United States or any other form of security authorized by NRS 100.065. If security is provided in the form of a savings certificate, certificate of deposit or investment certificate, the certificate must state that the amount is unavailable for withdrawal except upon order of the Department. The Department shall deposit all cash and bonds of the United States or of the State of Nevada received pursuant to this subsection with the State Treasurer as custodian.

3. Notwithstanding any other provision of this section, upon application and a satisfactory showing therefor, the Department may, from time to time, increase or decrease the amount of the required bond, having consideration for the amount of importations made by the importer or the amount of beer or wine possessed or sold by the brewer or wine maker, respectively.

4. Notwithstanding any other provision of this section, the Department may waive the requirement of a bond pursuant to this section whenever a licensed importer, brewer or wine maker has maintained a satisfactory record of payment of excise taxes for a period of not less than 5 consecutive years.

[Part 19:160:1935; A 1937, 374; 1939, 113; 1945, 371; 1947, 645; 1955, 464] — (NRS A 1959, 562; 1967, 854; 1975, 1709; 1989, 1071; 1995, 1066)