As used in NRS 487.400 to 487.510, inclusive:

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Terms Used In Nevada Revised Statutes 487.400

  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.

1.  ’Identifying card’ means a card:

(a) Authorizing the holder to bid for the purchase of vehicles from the operator of a salvage pool; and

(b) Containing the information required by NRS 487.070, 487.475 or 487.477.

2.  ’Salvage pool’ means a business which obtains motor vehicles from:

(a) Insurers and self-insurers for sale on consignment or as an agent for the insurer or self-insurer if the vehicles are acquired by the insurer or self-insurer as the result of a settlement for insurance; or

(b) Licensed vehicle dealers, rebuilders, lessors or wreckers for sale on consignment.

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