Nevada Administrative Code

NAC 116B.230 Inclusion of additional funds in financial statements. (NRS 116B.580, 116B.805) The financial statements of an association may provide for such other funds as the association deems appropriate to report the transactions of separate business activities, special assess…

NAC 116B.240 Review of financial statements; qualifications of person performing review. (NRS 116B.580, 116B.585, 116B.805) 1. The review of the financial statements of an association must be performed in accordance with the Guide. The financial statements must include a full pre…

NAC 116B.250 Annual registration with Division: Required information. (NRS 116B.805) An association must include on the annual registration form filed with the Division the following information: 1. The total amount of budgeted revenues and expenses of the association; 2. Whether…

NAC 116B.300 Persons authorized to take action required to be taken by hotel unit owner. (NRS 116B.805) Any action required to be taken by the hotel unit owner may be undertaken by the hotel unit owner’s agent or employee or the operator of the condominium hotel. (Added to NAC by…

NAC 116B.310 Preparation of financial statements and budgets; auditing of annual financial statements. (NRS 116B.805) 1. The financial statements of the hotel unit owner must be prepared in accordance with generally accepted accounting principles. 2. Any budget for the hotel unit…

NAC 116B.320 Preparation, contents and availability of interim financial statements. (NRS 116B.805) The interim financial statements of the hotel unit owner must be prepared in accordance with generally accepted accounting principles and must: 1. Include, at a minimum: (a) A bala…

NAC 116B.330 Preparation, contents, availability and adoption of audited financial statements; qualifications of auditor. (NRS 116B.805) 1. The audited financial statements of the hotel unit owner must: (a) Be prepared in accordance with generally accepted accounting principles a…

NAC 116B.340 Inclusion of certain additional information in financial statements. (NRS 116B.805) The financial statements of a hotel unit owner may provide for such other information as the hotel unit owner deems appropriate to report the transactions of separate business activit…

NAC 116B.350 Reserve study: Determination of reduction in useful life of shared components and hotel unit. (NRS 116B.610, 116B.805) 1. For purposes of NRS 116B.610, a reduction in the useful life of each major component of the shared components and each major component of the hot…

NAC 116B.360 Fees for preparation of certificate for resale of unit; additional fees. (NRS 116B.760, 116B.805) 1. Except as otherwise provided in subsections 2 and 3, a hotel unit owner may not charge more than $185 for preparing the certificate required by subsection 3 of NRS 11…

NAC 116B.400 Restriction on members of executive boards and officers of associations. (NRS 116B.695, 116B.805) No member of an executive board or officer of an association shall receive, in the aggregate, any gift, incentive, gratuity, reward or other item of value pursuant to su…

NAC 116B.410 Restriction on community managers and employees of community managers. (NRS 116B.695, 116B.805) No community manager or employee of the community manager shall receive, in the aggregate, any gift, incentive, gratuity, reward or other item of value pursuant to subsect…

NAC 116B.420 Attendance of or participation in approved class. (NRS 116B.695, 116B.805) 1. As used in NRS 116B.695, the term “gifts, incentives, gratuities, rewards or other items of value” does not include: (a) Any prepaid tuition for an approved class within the State for membe…

NAC 116B.430 Compliance with statutory prohibition. (NRS 116B.695, 116B.805) Nothing in NAC 116B.400, 116B.410 and 116B.420 is to be construed as permitting a member of an executive board, an officer of an association, a community manager or an employee of the community manager t…

NAC 116B.500 Public offering statements: Inclusion of information relating to certain management agreements and use of units for transient rental purposes. (NRS 116B.785, 116B.805) 1. In addition to the information required by NRS 116B.735, a public offering statement must also c…

NAC 116B.510 Resale packages: Inclusion of information relating to certain rental management agreements. (NRS 116B.785, 116B.805) In addition to the information required by subsection 1 of NRS 116B.760, a unit’s owner or the authorized agent of the unit’s owner must also include …

NAC 116B.520 Public offering statements and resale packages: Additional contents. (NRS 116B.785, 116B.805) In addition to the information required by NRS 116B.735 and 116B.760, the public offering statement and resale package must also include, to the extent available: 1. A narra…

NAC 116B.530 Preparation by Division of supplemental disclosure statement form. (NRS 116B.785, 116B.805) The Division may prepare a supplemental disclosure statement form which encourages prospective buyers to be informed and which addresses matters that the Division has determin…

NAC 116B.600 Duties of Ombudsman for Owners in Common-Interest Communities and Condominium Hotels: “Annual assessment” interpreted. (NRS 116B.805, 116B.815) As used in NRS 116B.815, “annual assessment” means both the per-unit assessments and the total budget revenues for the asso…

NAC 118B.010 Definitions. (NRS 118B.024) As used in this chapter, unless the context otherwise requires, the words and terms defined in NAC 118B.020 to 118B.050, inclusive, have the meanings ascribed to them in those sections. (Added to NAC by Mfd. Housing Div., eff. 3-26-93)

NAC 118B.020 “Administrator” defined. (NRS 118B.024) “Administrator” means the Administrator of the Manufactured Housing Division of the Department of Business and Industry. (Added to NAC by Mfd. Housing Div., eff. 3-26-93; A 12-27-93)

NAC 118B.030 “Course” defined. (NRS 118B.024) “Course” means a course of continuing education required by NRS 118B.086. (Added to NAC by Mfd. Housing Div., eff. 3-26-93)

NAC 118B.040 “Division” defined. (NRS 118B.024) “Division” means the Manufactured Housing Division of the Department of Business and Industry. (Added to NAC by Mfd. Housing Div., eff. 3-26-93; A 12-27-93)

NAC 118B.050 “Instructor” defined. (NRS 118B.024) “Instructor” means a person approved by the Administrator to teach a course. (Added to NAC by Mfd. Housing Div., eff. 3-26-93) CONTINUING EDUCATION OF MANAGERS AND ASSISTANT MANAGERS

NAC 118B.100 Approval of course and instructor: Requirement; application to Administrator. (NRS 118B.024, 118B.086) 1. A person shall not offer or teach a course unless the course and the instructor have first been approved by the Administrator. 2. A person who wishes to offer or…

NAC 118B.110 Application for approval of course or instructor: Contents; notice of approval or denial. (NRS 118B.024, 118B.086) 1. An application for approval of a course or instructor must include: (a) The name and address of the instructor of the course; (b) The resume of the i…

NAC 118B.120 Criteria for approval of course. (NRS 118B.024, 118B.086) The Administrator will consider, without limitation, the following criteria in determining whether to approve a course: 1. Whether the course consists of at least 3 hours of instruction; and 2. The willingness…

NAC 118B.130 Contents of course. (NRS 118B.024, 118B.086) In addition to the information required pursuant to NRS 118B.086, a course may include information relating to: 1. Manufactured housing or manufactured home parks which will enable a person to provide better service to the…

NAC 118B.140 Instructors: Qualifications for approval. (NRS 118B.024, 118B.086) 1. The Administrator will not approve an instructor for a course unless the instructor is of good moral character and, except as otherwise provided in subsection 2: (a) Holds a bachelor’s degree or gr…

NAC 118B.150 Instructors: General duties. (NRS 118B.024, 118B.086) Each instructor who is approved by the Administrator to offer a course shall: 1. Maintain a record of each student’s attendance and a copy of the certificate of completion for 5 years after the course is offered. …

NAC 118B.160 Evaluation of courses. (NRS 118B.024, 118B.086) 1. Each instructor shall, at the completion of a course, require each student to complete a written evaluation of the course. The Division will provide the form for the evaluation. 2. The instructor shall keep the evalu…

NAC 118B.170 Certificates of completion: Contents. (NRS 118B.024, 118B.088) Each certificate of completion must, in addition to the information required pursuant to NRS 118B.088, include the name and number of the course. (Added to NAC by Mfd. Housing Div., eff. 3-26-93)

NAC 118B.180 Certificates of completion: Restriction on issuance. (NRS 118B.024, 118B.088) 1. An instructor approved by the Administrator shall not issue a certificate of completion to any student who has not attended the required number of hours of instruction for the course. 2.…

NAC 118B.190 Contents of advertisements and forms for registration. (NRS 118B.024, 118B.086) 1. An instructor shall not make any misrepresentations in the advertisement of any course offered pursuant to NAC 118B.100 to 118B.220, inclusive. 2. Each advertisement or form for regist…

NAC 118B.200 Renewal of approval of instructor or course. (NRS 118B.024, 118B.086) 1. Approval for each instructor or course must be renewed annually by submitting to the Administrator: (a) An application on a form prescribed by the Division; and (b) A certificate, on a form pres…

NAC 118B.210 Hearing on denial of application for approval or renewal of approval of instructor or course. (NRS 118B.024, 118B.086) 1. A person whose application for approval or renewal of approval as an instructor or for approval or renewal of approval of a course is denied may …

NAC 118B.220 Withdrawal of approval of instructor or course. (NRS 118B.024, 118B.086) 1. The Administrator may withdraw his or her approval of an instructor or course if the Administrator finds that: (a) The quality of the instruction is unsatisfactory; or (b) The instructor has …

NAC 118B.300 Definitions. (NRS 118B.024, 118B.215) As used in NAC 118B.300 to 118B.450, inclusive, unless the context otherwise requires, the words and terms defined in NAC 118B.310 to 118B.330, inclusive, have the meanings ascribed to them in those sections. (Added to NAC by Mfd…

NAC 118B.310 “Applicant” defined. (NRS 118B.024, 118B.215) “Applicant” means a tenant of a manufactured home park who has applied for assistance from the Fund. (Added to NAC by Mfd. Housing Div., eff. 12-27-93; A by R213-03, 3-29-2004)

NAC 118B.315 “Fund” defined. (NRS 118B.024, 118B.215) “Fund” means the Fund for Low-Income Owners of Manufactured Homes created pursuant to NRS 118B.215. (Added to NAC by Mfd. Housing Div., eff. 12-27-93; A by R213-03, 3-29-2004)—(Substituted in revision for NAC 118B.340)

NAC 118B.320 “Income” defined. (NRS 118B.024, 118B.215) “Income” means gross income received from all sources including: 1. Wages and salaries; 2. Net income from business activities or investments; 3. Industrial insurance benefits; 4. Payments received for social security; 5. Ra…

NAC 118B.330 “Recipient” defined. (NRS 118B.024, 118B.215) “Recipient” means a tenant of a manufactured home park who is receiving assistance from the Fund. (Added to NAC by Mfd. Housing Div., eff. 12-27-93; A by R213-03, 3-29-2004)

NAC 118B.350 Formula for determining monthly income of applicant. (NRS 118B.024, 118B.215) The Division will determine the monthly income of an applicant by adding the annual income of each person who owns and occupies the manufactured home for which assistance from the Fund is r…

NAC 118B.360 Determination of average monthly rent; publication of reports. (NRS 118B.024, 118B.215) The Division will determine the average monthly rent for each class of manufactured home lot in the county where the manufactured home is located by using the reports which are su…

NAC 118B.370 Guidelines for eligibility for assistance. (NRS 118B.024, 118B.215) The Division will use the guidelines for poverty established by the United States Department of Health and Human Services to determine eligibility for assistance from the Fund. (Added to NAC by Mfd. …

NAC 118B.380 Application for assistance; approval or denial of application. (NRS 118B.024, 118B.215) 1. An applicant who requests assistance from the Fund must submit an application to the Division on a form furnished by the Division. 2. The application must include: (a) Any proo…

NAC 118B.390 Completion of certification form by manager; contents of certification form. (NRS 118B.024, 118B.215) 1. After the Division receives an application for assistance, it will mail to the manager of the manufactured home park where the applicant resides a certification f…