1. If any individual asks to be excused from attending or testifying or from producing any books, papers, records, contracts, correspondence or other documents in connection with any examination, hearing or investigation being conducted by the Commissioner or an examiner of the Commissioner, on the ground that the testimony or evidence required of the individual may tend to incriminate the individual or subject him or her to a penalty or forfeiture, and nonetheless is directed by the Attorney General to give such testimony or produce such evidence, the individual must comply with such direction; but the individual shall not thereafter be prosecuted or subjected to any penalty or forfeiture for or on account of any transaction, matter or thing concerning which he or she may have so testified or produced evidence, and no testimony so given or evidence produced shall be received against him or her upon any criminal action, investigation or proceeding. No such individual so testifying shall be exempt from:

(a) Prosecution or punishment for any perjury committed by the individual in such testimony, and the testimony or evidence so given or produced shall be admissible against the individual upon any criminal action, investigation or proceeding concerning such perjury.

(b) The refusal, suspension or revocation of any license, permission or authority conferred, pursuant to this Code.

2. Any such individual may execute, acknowledge and file in the office of the Commissioner and of the Attorney General a statement expressly waiving such immunity or privilege in respect to any transaction, matter or thing specified in such statement, and thereupon the testimony of such individual or such evidence in relation to such transaction, matter or thing may be received or produced before any judge or justice, court, tribunal, grand jury or otherwise, and if such testimony or evidence is so received or produced such individual shall not be entitled to any immunity or privileges on account of any testimony or evidence the individual may so give or produce.

(Added to NRS by 1971, 1573)