A participant shall comply with any requirements prescribed by regulations adopted by the three Nevada State Commissioners. If the participant fails to comply, the three Nevada State Commissioners, acting jointly, may:
1. For each infraction, impose a fine of not more than $200 against any participant in any academic or practicing year, and may deny additional money to any participant who fails to pay the fine when due; and
2. Expel the participant from the program for which the participant received the stipend.