1. Each regulatory body shall contribute to the Fund for Insurance Premiums as required by NRS 331.187 . 2. If a regulatory body employs an attorney as legal counsel, the attorney may not be employed as legal counsel of another regulatory body. 3. If a regulatory body retains an attorney to act as legal counsel for the regulatory body as an independent contractor, the attorney: (a) May contract with more than one regulatory body to act as legal counsel as an independent contractor. (b) Shall obtain or otherwise carry, before acting as legal counsel for a regulatory body, a policy of professional liability insurance which insures the attorney against any liability arising from acting as legal counsel for the regulatory body.
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