1. A consignee of a vehicle shall, upon entering into a consignment contract or other form of agreement to sell a vehicle owned by another person:
(a) Open and maintain a separate trust account in a federally insured bank, savings and loan association or savings bank that is located in this State, into which the consignee shall deposit all money received from a prospective buyer as a deposit, or as partial or full payment of the purchase price agreed upon, toward the purchase or transfer of interest in the vehicle. A consignee of a vehicle shall not:
(1) Commingle the money in the trust account with any other money that is not on deposit or otherwise maintained toward the purchase of the vehicle subject to the consignment contract or agreement; or
(2) Use any money in the trust account to pay his or her operational expenses for any purpose that is not related to the consignment contract or agreement.
(b) Obtain from the consignor, before receiving delivery of the vehicle, a signed and dated disclosure statement that is included in the consignment contract and provides in at least 10-point bold type or font:
IMPORTANT NOTICE TO VEHICLE OWNERS
State law (NRS 482.31776) requires that the operator of this business file a Uniform Commercial Code 1 (UCC1) form with the Office of the Secretary of State on your behalf to protect your interest in your vehicle. The form is required to protect your vehicle from forfeiture in the event that the operator of this business fails to meet his or her financial obligations to a third party holding a security interest in his or her inventory. The form must be filed by the operator of this business before the operator may take possession of your vehicle. If the form is not filed as required, YOU MAY LOSE YOUR VEHICLE THROUGH NO FAULT OF YOUR OWN. For a copy of the UCC1 form filed on your behalf or for more information, please contact:
The Office of the Secretary of State of Nevada
Uniform Commercial Code Division
(775) 684-7100
I understand and acknowledge the above disclosure.
.................................. ...............
Consignee Signature Date
(c) Assist the consignor in completing, with respect to the consignor’s purchase-money security interest in the vehicle, a financing statement of the type described in subsection 5 of NRS 104.9317 and shall file the financing statement with the Secretary of State on behalf of the consignor. If a consignee has previously granted to a third party a security interest with an after-acquired property clause in the consignee’s inventory, the consignee additionally shall assist the consignor in sending an authenticated notification, as described in paragraph (b) of subsection 1 of NRS 104.9324, to each holder of a conflicting security interest. The consignee must not receive delivery of the vehicle until the consignee has:
(1) Filed the financing statement with the Secretary of State; and
(2) If applicable, assisted the consignor in sending an authenticated notification to each holder of a conflicting security interest.
2. Upon the sale or transfer of interest in the vehicle, the consignee shall forthwith:
(a) Satisfy or cause to be satisfied all outstanding security interests in the vehicle; and
(b) Satisfy the financial obligations due the consignor pursuant to the consignment contract.
3. Upon the receipt of money by delivery of cash, bank check or draft, or any other form of legal monetary exchange, or after any form of transfer of interest in a vehicle, the consignee shall notify the consignor that the money has been received or that a transfer of interest in the vehicle has occurred. Notification by the consignee to the consignor must be given in person or, in the absence of the consignor, by registered or certified mail addressed to the last address or residence of the consignor known to the consignee. The notification must be made within 3 business days after the date on which the money is received or the transfer of interest in the vehicle is made.
4. The provisions of this section do not apply to:
(a) An executor;
(b) An administrator;
(c) A sheriff;
(d) A salvage pool subject to the provisions of NRS 487.400 to 487.510, inclusive; or
(e) Any other person who sells a vehicle pursuant to the powers or duties granted to or imposed on him or her by specific statute.
5. Notwithstanding any provision of NRS 482.423 to 482.4245, inclusive, to the contrary, a vehicle subject to a consignment contract may not be operated by the consignee, an employee or agent of the consignee, or a prospective buyer in accordance with NRS 482.423 to 482.4245, inclusive, by displaying a temporary placard to operate the vehicle unless the operation of the vehicle is authorized by the express written consent of the consignor.
6. A vehicle subject to a consignment contract may not be operated by the consignee, an employee or agent of the consignee, or a prospective buyer in accordance with NRS 482.320 by displaying a special plate unless the operation of the vehicle is authorized by the express written consent of the consignor.
7. A consignee shall maintain a written log for each vehicle for which he or she has entered into a consignment contract. The written log must include:
(a) The name and address, or place of residence, of the consignor;
(b) A description of the vehicle consigned, including the year, make, model and serial or identification number of the vehicle;
(c) The date on which the consignment contract is entered into;
(d) The period that the vehicle is to be consigned;
(e) The minimum agreed upon sales price for the vehicle;
(f) The approximate amount of money due any lienholder or other person known to have an interest in the vehicle;
(g) If the vehicle is sold, the date on which the vehicle is sold;
(h) The date that the money due the consignor and the lienholder was paid;
(i) The name and address of the federally insured bank or savings and loan association in which the consignee opened the trust account required pursuant to subsection 1; and
(j) The signature of the consignor acknowledging that the terms of the consignment contract were fulfilled or terminated, as appropriate.
8. A person who:
(a) Appropriates, diverts or otherwise converts to his or her own use money in a trust account opened pursuant to paragraph (a) of subsection 1 or otherwise subject to a consignment contract or agreement is guilty of embezzlement and shall be punished in accordance with NRS 205.300. The court shall, in addition to any other penalty, order the person to pay restitution.
(b) Violates paragraph (b) or (c) of subsection 1 is guilty of a misdemeanor. The court shall, in addition to any other penalty, order the person to pay restitution.
(c) Violates any other provision of this section is guilty of a misdemeanor.
(Added to NRS by 1999, 1901; A 2001, 912; 2003, 669; 2009, 1742; 2017, 950)
Structure Nevada Revised Statutes
Chapter 482 - Motor Vehicles and Trailers: Licensing, Registration, Sales and Leases
NRS 482.0105 - "Assembly" defined.
NRS 482.011 - "Based" defined.
NRS 482.012 - "Border state employee" defined.
NRS 482.0125 - "Branch" defined.
NRS 482.0127 - "Broker" defined.
NRS 482.014 - "Calendar year" defined.
NRS 482.0145 - "Charitable organization" defined.
NRS 482.0151 - "Chassis-mount camper" defined.
NRS 482.0152 - "Combined gross vehicle weight" defined.
NRS 482.0153 - "Combined gross vehicle weight rating" defined.
NRS 482.0154 - "Complete front inner structure for a unibody" defined.
NRS 482.0157 - "Conventional frame" defined.
NRS 482.016 - "Converter dolly" defined.
NRS 482.018 - "Cowl assembly" defined.
NRS 482.020 - "Dealer" and "vehicle dealer" defined.
NRS 482.023 - "Declared gross weight" defined.
NRS 482.028 - "Distributor" defined; exception.
NRS 482.0285 - "Duplicate number plate" defined.
NRS 482.0287 - "Electric bicycle" defined.
NRS 482.029 - Electric personal assistive mobility device" defined.
NRS 482.0295 - "Electric scooter" defined.
NRS 482.030 - "Essential parts" defined.
NRS 482.035 - "Farm tractor" defined.
NRS 482.036 - "Farm vehicle" defined.
NRS 482.037 - "Fiscal year" defined.
NRS 482.0385 - "Floor pan assembly" defined.
NRS 482.040 - "Foreign vehicle" defined.
NRS 482.043 - "Franchise" defined.
NRS 482.0435 - "Full trailer" defined.
NRS 482.044 - "Golf cart" defined.
NRS 482.0443 - "Gross vehicle weight" defined.
NRS 482.0445 - "Gross vehicle weight rating" defined.
NRS 482.045 - "Highway" defined.
NRS 482.050 - "Identification" and "permanent identifying" defined.
NRS 482.0515 - "Kit trailer" defined.
NRS 482.055 - "Lienholder" defined.
NRS 482.0555 - "Local authority" defined.
NRS 482.060 - "Manufacturer" defined.
NRS 482.065 - "Metal tires" defined.
NRS 482.066 - "Mini motor home" defined.
NRS 482.067 - "Mobile home" defined.
NRS 482.069 - "Moped" defined.
NRS 482.070 - "Motorcycle" defined.
NRS 482.071 - "Motor home" defined.
NRS 482.073 - "Motortruck" defined.
NRS 482.075 - "Motor vehicle" defined.
NRS 482.076 - "New vehicle" defined.
NRS 482.078 - "New vehicle dealer" defined.
NRS 482.080 - "Nonresident" defined.
NRS 482.083 - "Out-of-service order" defined.
NRS 482.084 - "Out-of-state student" defined.
NRS 482.085 - "Owner" defined.
NRS 482.087 - "Passenger car" defined.
NRS 482.091 - "Passenger compartment" defined.
NRS 482.095 - "Pneumatic tires" defined.
NRS 482.096 - "Purchase price" defined.
NRS 482.0962 - "Qualifying service-connected disability" defined.
NRS 482.0965 - "Rear clip assembly" defined.
NRS 482.097 - "Rebuilder" defined.
NRS 482.098 - "Rebuilt vehicle" defined.
NRS 482.100 - "Reconstructed vehicle" defined.
NRS 482.1005 - "Recreational park trailer" defined.
NRS 482.101 - "Recreational vehicle" defined.
NRS 482.1015 - "Registered dealer" defined.
NRS 482.102 - "Registered owner" defined.
NRS 482.1025 - "Replacement number plate" defined.
NRS 482.103 - "Resident" defined.
NRS 482.106 - "Roof assembly" defined.
NRS 482.107 - "Salesperson" defined.
NRS 482.109 - "Security interest" defined.
NRS 482.110 - "Semitrailer" defined.
NRS 482.1115 - "Service vehicle" and "work vehicle" defined.
NRS 482.113 - "Slide-in camper" defined.
NRS 482.115 - "Solid rubber tires" defined.
NRS 482.120 - "Specially constructed vehicle" defined.
NRS 482.123 - "Special mobile equipment" defined.
NRS 482.124 - "Substitute number plate" defined.
NRS 482.125 - "Trailer" defined.
NRS 482.127 - "Travel trailer" defined.
NRS 482.129 - "Trimobile" defined.
NRS 482.1295 - "Truck cab assembly" defined.
NRS 482.130 - "Truck-tractor" defined.
NRS 482.132 - "Used vehicle" defined.
NRS 482.133 - "Used vehicle dealer" defined.
NRS 482.134 - "Utility trailer" defined.
NRS 482.1345 - "Van conversion" defined.
NRS 482.135 - "Vehicle" defined.
NRS 482.137 - "Vehicle transporter" defined.
NRS 482.155 - Enforcement of provisions of chapter by Department, its officers and peace officers.
NRS 482.165 - Director to provide forms.
NRS 482.170 - Records of Department concerning registration and licensing.
NRS 482.175 - Validity of registration: Powers and duties of Department and registered dealers.
NRS 482.183 - Motor Vehicle Revolving Account: Creation; use; deposits.
NRS 482.186 - Certain odometers deemed to register actual miles traveled by vehicle.
NRS 482.205 - Registration required for certain vehicles.
NRS 482.206 - Periods of registration for vehicles; exceptions.
NRS 482.208 - Registration of leased vehicles by long-term lessor or long-term lessee.
NRS 482.210 - Exemptions from registration.
NRS 482.230 - Grounds requiring refusal of registration.
NRS 482.245 - Contents of certificates of registration and title.
NRS 482.267 - License plates: Production at facility of Department of Corrections; exception.
NRS 482.270 - License plates: General specifications; redesign.
NRS 482.2703 - License plates: Samples; form; fee; penalty.
NRS 482.2705 - License plates: Passenger cars and trucks; duties of Director.
NRS 482.271 - License plates: Decals; fees.
NRS 482.2717 - License plates to be issued to automobile wreckers and operators of salvage pools.
NRS 482.272 - License plates: Motorcycles and mopeds.
NRS 482.274 - License plates: Trailers; duties of Director.
NRS 482.275 - License plates: Display.
NRS 482.276 - Farm license plate for implement of husbandry; application; fee; renewal.
NRS 482.2914 - Department to adopt certain regulations regarding out-of-service orders.
NRS 482.2918 - Department may refuse renewal of registration of certain motor carriers; notice.
NRS 482.292 - "Document" defined.
NRS 482.295 - Registration by short-term lessor: Proof of financial ability to respond to damages.
NRS 482.300 - Short-term lessor must be licensed.
NRS 482.310 - Type of license plate for leased vehicle.
NRS 482.31515 - "Authorized driver" defined.
NRS 482.3152 - "Estimated time for repair" defined.
NRS 482.31525 - "Estimated time for replacement" defined.
NRS 482.31527 - "Vehicle licensing costs" defined.
NRS 482.3153 - "Waiver of damages" defined.
NRS 482.3155 - Waiver of damages: Required provisions; limitation is void; exception.
NRS 482.31575 - Advertisement of lease: Disclosure of certain information required; exception.
NRS 482.31585 - Action for damages and equitable relief; attorney’s fees and costs.
NRS 482.3159 - Waiver of provisions is void.
NRS 482.316 - Legislative declaration; license issued to vehicle transporter revocable privilege.
NRS 482.3161 - Licensing required; applicability of NRS 482.316 to 482.3175, inclusive.
NRS 482.3165 - Fee for issuance of special license plate.
NRS 482.3167 - Bond: Filing; form; deposit in lieu of bond.
NRS 482.3171 - Movement of vehicle with special license plate authorized.
NRS 482.3175 - Grounds for denial, suspension or revocation of license; hearing.
NRS 482.31772 - "Consignee" defined.
NRS 482.31773 - "Consignment" defined.
NRS 482.31774 - "Consignment contract" defined.
NRS 482.31775 - Consignment contract: Required contents.
NRS 482.318 - Legislative declaration.
NRS 482.3255 - Denial or revocation of license: Evidence of unfitness of applicant or licensee.
NRS 482.3256 - Licensees to post licenses in conspicuous place visible to public.
NRS 482.328 - Vehicle taken in trade: Satisfaction of outstanding security interest.
NRS 482.3337 - Brokers: Insured trust account required.
NRS 482.363105 - Long-term lessors also holding licenses as vehicle dealers: Authorized acts.
NRS 482.36318 - Distributor" defined.
NRS 482.36319 - "Distributor branch" defined.
NRS 482.3632 - "Factory branch" defined.
NRS 482.3634 - "Relevant market area" defined.
NRS 482.36345 - "Representative" defined.
NRS 482.36348 - Vehicle" defined.
NRS 482.363521 - Termination or discontinuation of franchise: Compensation of dealer.
NRS 482.363523 - Termination or discontinuation of franchise: Duties of dealer.
NRS 482.36363 - Hearings: Burden of proof; consideration of economic effect.
NRS 482.36366 - Hearings: Fees for witness; assessment of costs; attorney’s fees.
NRS 482.36368 - Decision of Director: Judicial review; notice.
NRS 482.36399 - Assumption of provisions of franchise agreement by successor required.
NRS 482.36412 - Franchise assumable by successor same as existed at death of dealer.
NRS 482.36414 - License as dealer required for assumption of operation of franchise.
NRS 482.36425 - Civil penalty; civil suit by Attorney General.
NRS 482.3643 - "Sell," "sold," "buy" and "purchase" defined.
NRS 482.3653 - Acceptance of gratuity by person financing sales unlawful.
NRS 482.3655 - Acceptance of gratuity: Unlawful financing of sales thereafter.
NRS 482.3657 - Violation by corporation; penalty.
NRS 482.3659 - Violation by foreign corporation; penalty.
NRS 482.366 - Agreements in violation of law void.
NRS 482.3661 - Provisions cumulative.
NRS 482.3663 - Action for damages; additional parties defendant.
NRS 482.3666 - "Drivetrain" defined.
NRS 482.366605 - "Used vehicle" defined.
NRS 482.36661 - Inspection of engine and drivetrain of vehicle; written disclosure of defects.
NRS 482.36662 - Written warranty required under certain circumstances; contents of warranty.
NRS 482.36663 - Duration of warranty.
NRS 482.36664 - Complaint regarding dealer: Submission; contents; investigation; resolution; appeal.
NRS 482.36665 - Record of complaints: Maintenance; contents.
NRS 482.367 - Fees; deposit of fees to credit of Motor Vehicle Fund.
NRS 482.367003 - Requirements for design.
NRS 482.367006 - Fees: Imposition; deposit, administration and distribution.
NRS 482.3672 - Member of the press.
NRS 482.3675 - Honorary consul of foreign country.
NRS 482.369 - Distinguishing plates for exempt vehicles: Specifications.
NRS 482.370 - United States Senators and Representatives.
NRS 482.372 - Secretary of State, State Treasurer, State Controller and Attorney General.
NRS 482.373 - Governor and Lieutenant Governor.
NRS 482.374 - Legislators, Supreme Court justices and Court of Appeals judges.
NRS 482.3745 - Fees for license plates for congressional delegates and public officers.
NRS 482.3746 - Vegas Golden Knights.
NRS 482.3747 - Collegiate license plates.
NRS 482.3748 - Grand Lodge of Free and Accepted Masons.
NRS 482.3749 - Hall of fame athletes.
NRS 482.375 - Holder of license for amateur radio station.
NRS 482.3751 - Person who has achieved rank of Eagle Scout in Boy Scouts of America.
NRS 482.3752 - Person who has been awarded Girl Scout Gold Award by Girl Scouts of America.
NRS 482.3753 - Professional full-time salaried firefighters.
NRS 482.3754 - Volunteer firefighters.
NRS 482.3755 - Member of Nevada Wing of Civil Air Patrol.
NRS 482.3757 - Peace officer who is recipient of medal.
NRS 482.376 - Member of Nevada National Guard.
NRS 482.3765 - Veteran of Armed Forces of United States who survived attack on Pearl Harbor.
NRS 482.3775 - Veteran of Armed Forces of United States awarded Purple Heart.
NRS 482.378 - Recipient of Congressional Medal of Honor.
NRS 482.379 - Commemorating 125th anniversary of Nevada’s admission into Union.
NRS 482.37901 - Commemorating 150th anniversary of Nevada’s admission into Union.
NRS 482.37902 - Commemorating 100th anniversary of women’s suffrage.
NRS 482.37903 - Commemorating 100th anniversary of founding of City of Las Vegas.
NRS 482.37905 - Encouraging donation of human organs.
NRS 482.37906 - Increasing awareness of childhood cancer.
NRS 482.37917 - Support of agriculture.
NRS 482.379175 - Appreciation of animals.
NRS 482.37918 - Support of preservation of history of atomic testing in Nevada.
NRS 482.379185 - Support of conservation of wetlands.
NRS 482.37919 - Support of desert preserve established by Las Vegas Valley Water District.
NRS 482.3792 - Support of education of children in arts.
NRS 482.3793 - Support of missing or exploited children.
NRS 482.37933 - Support of preservation and restoration of Lake Tahoe Basin.
NRS 482.37934 - Support of preservation of federal lands surrounding Las Vegas.
NRS 482.37935 - Support of natural environment of Mount Charleston area.
NRS 482.379355 - Support of naturalized citizenship.
NRS 482.379365 - Reflect public solidarity after acts of terrorism committed on September 11, 2001.
NRS 482.37938 - Support of rodeos.
NRS 482.37939 - Support for rights guaranteed by Second Amendment to United States Constitution.
NRS 482.3794 - Support for educational programs in science, technology, engineering and mathematics.
NRS 482.37941 - Support for the Divine Nine fraternities and sororities.
NRS 482.37947 - Support of Boy Scouts of America.
NRS 482.3797 - Electric powered vehicles.
NRS 482.380 - Antique vehicle: "Horseless Carriage."
NRS 482.3811 - Antique vehicle: Trucks and truck-tractors.
NRS 482.3817 - Retired military vehicles.
NRS 482.3823 - Vehicle used for course of instruction in automobile repair.
NRS 482.38273 - "Additional fees" defined.
NRS 482.38274 - "Charitable organization" defined.
NRS 482.38275 - "Intended recipient" defined.
NRS 482.38276 - "Special license plate" defined.
NRS 482.38278 - Legislative Auditor to submit annual final written report; contents of report.
NRS 482.382787 - Certain documents and information submitted to Department are public records.
NRS 482.383 - Conditions for issuance; fee.
NRS 482.3833 - "Person with a disability of moderate duration" defined.
NRS 482.3835 - "Person with a disability which limits or impairs the ability to walk" defined.
NRS 482.3837 - "Person with a permanent disability" defined.
NRS 482.3839 - "Person with a temporary disability" defined.
NRS 482.3843 - Application; issuance; use; surrender; no fee to be charged by Department.
NRS 482.395 - Reciprocal agreements and arrangements.
NRS 482.3963 - Temporary permit for owner-lessor to operate certain unregistered vehicles.
NRS 482.3965 - Temporary permit for short-term lessor to operate certain unregistered vehicles.
NRS 482.410 - Transferee to apply for certificate of registration and pay governmental services tax.
NRS 482.415 - Registration if transferee unable to produce certificate of registration or title.
NRS 482.4215 - Circumstances in which lease does not constitute sale or create security interest.
NRS 482.427 - Issuance of certificate of title to buyer, secured party or assignee.
NRS 482.428 - Issuance of certificates of title to certain secured parties.
NRS 482.432 - Applicable statutory provisions for perfection and release of security interest.
NRS 482.433 - Inapplicability of certain provisions to security interests in certain vehicles.
NRS 482.434 - Effect of action or failure to act by Department or its officers or employees.
NRS 482.436 - Unlawful acts; penalty.
NRS 482.441 - Certificates of title and registration.
NRS 482.460 - Unsafe or improperly equipped vehicle.
NRS 482.461 - Failure of mandatory test of emissions from engines; notification; cost of inspection.
NRS 482.475 - Vehicle used for short-term leasing.
NRS 482.4805 - Transfer of money from Account for Verification of Insurance to State Highway Fund.
NRS 482.481 - Proration of fee for registration of certain vehicles.
NRS 482.483 - Additional fees for registration of trailer or semitrailer.
NRS 482.4835 - Certain additional charges permissible by lessor of motortruck; disclosure required.
NRS 482.490 - Manufacturer’s, distributor’s, dealer’s or rebuilder’s license plate.
NRS 482.503 - Exemptions from fees for registration.
NRS 482.515 - Delinquent fees; penalties.
NRS 482.5161 - Sale of repossessed construction equipment.
NRS 482.518 - Reports of repossession to peace officer and Department.
NRS 482.520 - Action by Department on reports of stolen, embezzled and recovered vehicles.
NRS 482.542 - Disposition of seized vehicle.
NRS 482.5432 - "Automobile wrecker" defined.
NRS 482.5434 - "Body shop" defined.
NRS 482.5436 - "Garage operator" defined.
NRS 482.544 - "Identification number or mark" defined.
NRS 482.5445 - "Salvage pool" defined.
NRS 482.545 - Certain unlawful acts.
NRS 482.547 - Unlawful sale, offer of sale or display for sale of motor vehicle; penalty.
NRS 482.548 - Unlawful display of vehicle for sale or lease.
NRS 482.555 - Criminal penalties for certain violations of chapter; exception.