1. In lieu of securing a license to hold, operate, conduct or carry on a public livestock auction pursuant to NRS 573.020 , a person who wishes to conduct an annual sale of livestock may submit an application to the Department for the issuance of a limited license to conduct such a sale. The application must be submitted on a form furnished or approved by the Department and must include: (a) The name and address of the applicant who will conduct the annual sale of livestock; (b) The location of the establishment or premises where the applicant will conduct the annual sale of livestock; and (c) Any other information required by the Department. 2. As soon as practicable after receiving an application pursuant to subsection 1, the Department shall issue a limited license to conduct an annual sale of livestock to the applicant if the Department finds that the applicant has: (a) Delivered to the Director a surety bond pursuant to NRS 573.033 or a deposit receipt pursuant to NRS 573.037 ; (b) Paid the fee established by regulation of the State Board of Agriculture for the limited license to conduct an annual sale of livestock pursuant to NRS 573.040 ; and (c) Otherwise complied with the provisions of this chapter. 3. A limited license to conduct an annual sale of livestock is valid for the period for which it is issued. A person may not obtain more than one limited license to conduct an annual sale of livestock during the same calendar year. 4. The Department shall: (a) Limit the required duration of any surety bond or deposit receipt submitted pursuant to paragraph (a) of subsection 2 to the period during which the annual sale of livestock is conducted by the licensee. (b) Set the amount of the surety bond or deposit receipt at an amount which: (1) Must be based on the amount of bond coverage calculated for a market agency pursuant to 9 C.F.R. 201.30(a); and (2) May be less than the amount otherwise required pursuant to NRS 573.033 or 573.037 .
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