‘Institutional pharmacy’ means a pharmacy or other storage place as defined by regulations adopted by the Board which is a part of or operated in conjunction with a medical facility as that term is defined in NRS 449.0151. The term includes:

1.  A pharmacy on the premises of the medical facility which provides a system of distributing and supplying medication to the facility, whether or not operated by the facility; and

2.  A pharmacy off the premises of the medical facility which provides services only to the patients of the facility and provides a system of distributing medication based upon chart orders from the medical facility.