1. 1. “Representative of an investment adviser” means any person employed by or associated with an investment adviser who:

   1. (a) Provides advice concerning securities;
   2. (b) Manages accounts or portfolios of clients;
   3. (c) Determines the advice concerning securities that is offered to clients;
   4. (d) Solicits for the sale of investment advice, unless the person is a sales representative licensed pursuant to this chapter;
   5. (e) Sells, offers to sell or negotiates for the sale of investment advice; or
   6. (f) Supervises employees who engage in the activities described in paragraphs (a) to (e), inclusive.

2. 2. The term does not include:

   1. (a) A broker-dealer;
   2. (b) An investment adviser; and
   3. (c) A person employed by or associated with an investment adviser who provides clerical or administrative services.

(Added to NRS by 1995, 1441)