1. Subject to the limitations of NRS 622.213, the Attorney General or any other officer, agency or employee in the Executive Department of the State Government shall not enter into a contingent fee contract unless:
(a) The Governor, in consultation with the Attorney General, has determined in writing:
(1) That the Attorney General lacks the resources, skill or expertise to provide representation in the matter that is the subject of the proposed contract; and
(2) That representation pursuant to a contingent fee contract is cost-effective and in the public interest; and
(b) The proposed contract complies with the requirements of NRS 228.111 to 228.1118, inclusive.
2. Before entering into a contingent fee contract, the Attorney General or other officer, agency or employee, as applicable, must obtain approval from the Interim Finance Committee to commit money for that purpose.