The Director shall issue permits in accordance with such procedures and subject to such conditions as the Director may by regulation establish to effectuate the provisions of NRS 544.070 to 544.240, inclusive, only:
1. If the applicant is licensed pursuant to NRS 544.070 to 544.240, inclusive.
2. If a sufficient notice of intention is published and proof of publication is filed as required by NRS 544.180.
3. If the applicant furnishes proof of financial responsibility, as provided in NRS 544.190, in an amount as may be determined by the Director but not to exceed $20,000.
4. If the fee for a permit is paid as required by NRS 544.200.
(Added to NRS by 1961, 694)