1. Except as otherwise provided in subsection 2, an applicant for a license to issue identifying cards shall file with the Department a bond payable to the State of Nevada in the amount of $10,000. The bond must be executed by the applicant as principal and by a corporation qualified under NRS 100.065 as surety.
2. An applicant may, instead of filing a bond, deposit $10,000 with the State Treasurer in any form authorized by NRS 100.065.