CARSON CITY, Nev. -- The Nevada Assembly unanimously approved
legislation to eliminate all bonding requirements for the state's
agencies; the bill now moves to the Senate for action.
The bill, introduced by Assemblyman John Carpenter and later
amended in committee, replaces the existing bonding requirement
($50,000 for non-ARC agencies) with a consumer recovery fund paid
for with $100 of a proposed $125 annual registration fee to be paid
by registered travel sellers. All travel sellers would be required
to maintain trust accounts for client funds, as well.
The legislation also exempts all employees and "agents of
sellers of travel" from registration fees, Assemblyman Carpenter
said.