NRS 628A.040 Financial planner required to maintain insurance for liability or surety bond; exceptions.
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NRS 628A.040 Financial planner required to maintain insurance for liability or surety bond; exceptions.
1. Except as otherwise provided in subsection 2, a financial planner shall maintain insurance covering liability for errors or omissions, or a surety bond to compensate clients for losses actionable pursuant to this chapter, in an amount of $1,000,000 or more.
2. The provisions of subsection 1 do not apply to:
(a)A broker-dealer or sales representative licensed pursuant to NRS 90.310 or exempt under NRS 90.320 ; or
(b)An investment adviser licensed pursuant to NRS 90.330 or exempt under NRS 90.340 or 90.345 .