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2020 Nevada Revised Statutes
Chapter 628A - Financial Planners
NRS 628A.040 - Financial planner required to maintain insurance for liability or surety bond; exceptions.
Universal Citation: NV Rev Stat § 628A.040 (2020)
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.
(Added to NRS by 1993, 1372; A 2017, 1796)
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