1. The Department shall, upon request, consent to the immediate cancellation of any certificate of financial responsibility or waive the requirement of filing proof of financial responsibility, in the following events:
(a) The death of the person on whose behalf the proof of financial responsibility was filed or the permanent incapacity of the person to operate a motor vehicle; or
(b) If the person who is required to file proof of financial responsibility surrenders his or her license and registration to the Department.
2. If a person who surrenders his or her license and registration pursuant to paragraph (b) of subsection 1 applies for a license or registration within a period of 3 years after the date proof of financial responsibility was originally required, the application must be refused unless the applicant re-establishes proof of financial responsibility for the remainder of the 3-year period.
(Added to NRS by 1957, 729; A 1961, 148; 1995, 2739; 1999, 3587; 2007, 2050)