NAC697.310. Actions for attorneys; release or assignment of collateral.

     1. No licensee or employee thereof may receive, accept or otherwise collect or transmit money or other consideration for attorney’s fees, services or costs, or for any other purpose, to an attorney on behalf of any defendant.

     2. A licensee who is lawfully holding money or other collateral may, upon release or assignment of the collateral, honor the release or assignment if the licensee took no part in the negotiation of the release or assignment.

     3. Any release or assignment of collateral held by a licensee, including a release or assignment to pay a fine or for any reason other than to satisfy or secure the bond for which the collateral was originally received, must be executed by the defendant in writing.

     [Comm’r of Insurance, M-8 § V, eff. 11-22-78]