1. A chiropractic physician who wishes to act as a preceptor pursuant to the preceptor program established by the Board pursuant to NRS 634.137 must:
(a) File with the Board an application in the form required by the Board;
(b) Pay the fee for filing an application with the Board required by NRS 634.135;
(c) Hold in good standing a license on active status issued pursuant to this chapter;
(d) Have malpractice insurance as may be required by the Board; and
(e) Comply with any other requirements prescribed by the Board.
2. The Board may approve or deny an application for a chiropractic physician to act as a preceptor and shall give notice to the chiropractic physician of its decision.