1.  Upon the request of a motor carrier or a service provider, the Department may enter into an agreement with the motor carrier or service provider which authorizes the motor carrier or service provider:

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(a) Without applying to the Department, to register or transfer or renew the registration of any vehicle:

(1) Owned solely by the motor carrier or service provider; or

(2) Leased solely by the motor carrier or service provider, if the lease is a long-term lease; and

(b) To issue registration credentials on behalf of the Motor Carrier Division of the Department for any vehicle registered pursuant to paragraph (a) and for any vehicle with a registration that has been renewed or transferred pursuant to paragraph (a).

2.  Before registering or transferring or renewing the registration of any vehicle pursuant to subsection 1:

(a) A motor carrier who enters into an agreement with the Department pursuant to this section shall file with the Department a bond of a surety company authorized to transact business in this State for the benefit of this State in an amount not less than $25,000; and

(b) A service provider who enters into an agreement with the Department pursuant to this section shall file with the Department a bond of a surety company authorized to transact business in this State for the benefit of this State in an amount not less than $50,000.

3.  If a motor carrier or service provider provides a savings certificate, certificate of deposit or investment certificate pursuant to NRS 100.065 in lieu of the bond required pursuant to subsection 2, the certificate must state that the amount is not available for withdrawal except upon the approval of the Director of the Department.

4.  If at any time a motor carrier or service provider is unable to account for an unissued license plate, the motor carrier or service provider must immediately pay to the Department an amount established by the Department.

5.  If the Department determines that the motor carrier responsible for the safety of a commercial motor vehicle with a gross vehicle weight rating, a combined gross vehicle weight rating, a gross vehicle weight or a combined gross vehicle weight in excess of 26,000 pounds which is operating in intrastate commerce and which is registered pursuant to this section is subject to an out-of-service order, the Department may:

(a) Revoke the registration of each commercial motor vehicle with a gross vehicle weight rating, a combined gross vehicle weight rating, a gross vehicle weight or a combined gross vehicle weight in excess of 26,000 pounds which is operating in intrastate commerce and which is registered to the motor carrier responsible for the safety of the motor vehicles who is subject to the out-of-service order; and

(b) Revoke or refuse to grant the authority to register or transfer or renew any registration granted pursuant to this section.

6.  The Department, in revoking a registration pursuant to paragraph (a) of subsection 5, shall comply with the provisions of subsections 4 and 5 of NRS 482.465.

7.  The Director of the Department shall adopt such regulations as are necessary to carry out the provisions of this section.

8.  As used in this section:

(a) ’Commercial motor vehicle’ has the meaning ascribed to it in 49 C.F.R. § 390.5.

(b) ’Lease’ has the meaning ascribed to it in NRS 482.053.

(c) ’Long-term lease’ means a lease for a fixed period of more than 30 days.

(d) ’Motor carrier’ means a common, contract or private motor carrier registered through the Motor Carrier Division of the Department.

(e) ’Out-of-service order’ has the meaning ascribed to it in NRS 482.083.

(f) ’Registration credentials’ includes, without limitation, license plates, registration cab cards and temporary authority permits.

(g) ’Service provider’ means a business or organization authorized by the Department to register or transfer or renew the registration of vehicles on behalf of motor carriers.