Title 10

NRS 119A.032 “Association” defined. “Association” means an association of owners established pursuant to NRS 119A.520. (Added to NRS by 2001, 2494)

NRS 119A.033 “Blanket encumbrance” defined. “Blanket encumbrance” means any mortgage, deed of trust, option to purchase, mechanic’s lien, vendor’s lien or interest under a contract or agreement for sale, judgment lien, federal or state tax lien or other lien or encumbrance which …

NRS 119A.034 “Board” defined. “Board” means the governing body designated in a time-share instrument to act on behalf of an association. (Added to NRS by 2001, 2494)

NRS 119A.035 “Branch office” defined. “Branch office” means an office operated by a real estate broker who is licensed pursuant to chapter 645 of NRS, separate from the principal location of the real estate broker, for the purpose of engaging in the business of selling or reselli…

NRS 119A.036 “Common area” defined. “Common area” means those portions of a project other than the units. The term includes any easement which benefits the project. (Added to NRS by 2001, 2494)

NRS 119A.038 “Component site” defined. “Component site” means the specific geographic location where units that are part of a time-share plan are located. The term includes units added to a single project in the same specific geographic location and under common management. (Adde…

NRS 119A.040 “Developer” defined. “Developer” means any person who: 1. Creates a time-share plan or is in the business of selling time shares, other than those employees or agents of the developer who sell time shares on the developer’s behalf; or 2. Succeeds to the interest of a…

NRS 119A.041 “Developer’s reserved rights” defined. “Developer’s reserved rights” means any right reserved in a time-share instrument for the benefit of the developer, the exercise of which does not require a vote of the other owners. (Added to NRS by 2001, 2495)

NRS 119A.050 “Division” defined. “Division” means the Real Estate Division of the Department of Business and Industry. (Added to NRS by 1983, 977; A 1993, 1510)

NRS 119A.052 “Limited common area” defined. “Limited common area” means a portion of the common area allocated by a time-share instrument for the exclusive use of at least one, but not all, of the units in a project. (Added to NRS by 2001, 2495)

NRS 119A.054 “Manager” defined. “Manager” means a person who undertakes, directly or indirectly, the duties, responsibilities and obligations of managing, in whole or in part, a time-share plan or a project, or both, in accordance with an agreement entered into pursuant to NRS 11…

NRS 119A.055 “Material change” defined. 1. “Material change” means a change in any information or document that is part of the statement of record which renders the statement of record inaccurate, incomplete or misleading in such a way as to adversely affect the rights or obligat…

NRS 119A.056 “Owner” defined. “Owner” means a person, including a developer, who has an equitable or legal interest in a time share. The term does not include a person who has an interest in a time share solely as security for an obligation. (Added to NRS by 1991, 96; A 2001, 249…

NRS 119A.058 “Permanent identifying number” defined. “Permanent identifying number” means a series of numbers or letters, or any combination thereof, which identifies, for the duration of a time-share plan, one time share in the plan. (Added to NRS by 2001, 2495)

NRS 119A.060 “Permit” defined. “Permit” means the authorization issued by the Administrator pursuant to the provisions of this chapter to a developer to offer to sell or sell time shares. (Added to NRS by 1983, 977)

NRS 119A.070 “Person” defined. “Person” includes a government, a governmental agency and a political subdivision of a government. (Added to NRS by 1983, 977; A 1985, 508)

NRS 119A.080 “Project” defined. “Project” means the real property which, in whole or in part, is the subject of a time-share plan. (Added to NRS by 1983, 977; A 1985, 1137; 2001, 2499)

NRS 119A.090 “Project broker” defined. “Project broker” means any person who coordinates the sale of time shares for one or more time-share plans on behalf of one or more developers and who is licensed as a real estate broker pursuant to the provisions of chapter 645 of NRS. (Add…

NRS 119A.100 “Public offering statement” defined. “Public offering statement” means a disclosure document prepared and signed by the developer and approved or deemed approved for use by the Division pursuant to the provisions of this chapter, which contains the information requir…

NRS 119A.110 “Purchaser” defined. “Purchaser” means any person, other than the developer or lender, who purchases a time share. (Added to NRS by 1983, 978)

NRS 119A.120 “Representative” defined. “Representative” means a person who is not a sales agent and who, on behalf of a developer, induces other persons to attend a sales presentation. The term does not include a person who only performs clerical tasks, arranges appointments set …

NRS 119A.130 “Sales agent” defined. “Sales agent” means a person who, on behalf of a developer and under the direct supervision of a person licensed pursuant to the provisions of chapter 645 of NRS, sells or offers to sell a time share to a purchaser or who, if he or she is not r…

NRS 119A.133 “Sales and marketing entity” defined. “Sales and marketing entity” means an entity hired by a developer to manage the sale or marketing of a time-share plan. (Added to NRS by 2013, 1576, 3507)

NRS 119A.137 “Statement of record” defined. “Statement of record” means the information provided to the Administrator pursuant to subsection 1 of NRS 119A.300 or NRS 119A.302, as applicable. (Added to NRS by 2013, 3507)

NRS 119A.140 “Time share” defined. “Time share” means the right to use and occupy a unit on a recurrent periodic basis according to an arrangement allocating this right among various owners whether or not there is an additional charge to the owner for occupying the unit. (Added t…

NRS 119A.150 “Time-share instrument” defined. “Time-share instrument” means any document creating or regulating time shares, excluding any law, ordinance or governmental regulation. (Added to NRS by 1983, 978)

NRS 119A.152 “Time-share plan” defined. “Time-share plan” means the rights to time shares and the obligations and interests appurtenant thereto created by a time-share instrument. (Added to NRS by 2001, 2495)

NRS 119A.153 “Time-share resale” defined. “Time-share resale” means the sale or transfer of a time share that was previously sold to a purchaser. (Added to NRS by 1999, 2686)

NRS 119A.156 “Time-share resale broker” defined. “Time-share resale broker” means a person who is licensed pursuant to chapter 645 of NRS and is registered as a time-share resale broker pursuant to the provisions of this chapter and who, for compensation, lists, advertises, trans…

NRS 119A.160 “Unit” defined. “Unit” means that portion of a project which is designated for separate occupancy. (Added to NRS by 1983, 978; A 2001, 2500)

NRS 119A.170 Applicability of this chapter and chapter 645 of NRS. 1. Unless the method of disposition is adopted to evade the provisions of this chapter or chapter 645 of NRS, the provisions of this chapter, except subsection 4, do not apply to: (a) The sale of 12 or fewer time …

NRS 119A.172 Applicability of provisions relating to real estate brokers and sales agents to certain owners who refer prospective purchasers to developer or association or to employee or agent of developer or association. The provisions of this chapter and chapter 645 of NRS rela…

NRS 119A.174 Applicability of local ordinances, regulations and building codes. 1. A building code may not impose any requirements upon any structure in a project which it would not impose upon a physically identical development under a different form of ownership. 2. Except as o…

NRS 119A.180 Classification of interest of purchaser. 1. A purchaser shall not be deemed to hold an investment contract, nor shall his or her purchase be considered risk capital, because income derived from the project and any personal property available for use by the purchaser …

NRS 119A.190 Regulations; professional consultants; publication of proposed form before adoption and consideration of comments. 1. The Division may: (a) Adopt regulations: (1) Which are necessary to carry out the provisions of this chapter. (2) Regarding the content of advertisem…

NRS 119A.195 Authority for Division to conduct business electronically; regulations; fees; use of unsworn declaration; exclusions. 1. The Administrator may adopt regulations which establish procedures for the Division to conduct business electronically pursuant to title 59 of NRS…

NRS 119A.200 Limitation on licensing by local governments. Time shares, time-share plans and projects to which this chapter applies are subject to licensing by local governments for revenue but not for regulation. (Added to NRS by 1983, 996; A 2001, 2500)

NRS 119A.205 Technology Account. 1. The Technology Account for Chapter 119A of NRS is hereby created in the State General Fund. The Administrator shall administer the Account. 2. The interest and income earned on the money in the Account, after deducting any applicable charges, m…

NRS 119A.210 Sales agents: Qualifications; fees; fingerprinting; exemptions from licensing; expiration and renewal of licenses; continuing education. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withh…

NRS 119A.212 Sales agents: Application for renewal of license to include information relating to state business license; denial of renewal for unpaid debt assigned to State Controller for collection. 1. In addition to any other requirements set forth in this chapter, an applicant…

NRS 119A.220 Sales agents: Association with project broker. 1. A sales agent may work for only one project broker at any one time at the location designated in the license. 2. A project broker shall give written notice to the Division of a change of association of any sales agent…

NRS 119A.230 Sales agents: Disciplinary actions. 1. The Administrator may impose a fine or suspend, revoke, reissue, subject to conditions, or deny the renewal of any sales agent’s license issued under the provisions of this chapter at any time if the sales agent has, by false or…

NRS 119A.233 Provisional sales agents: Qualifications; employment with project broker. 1. The Division shall issue a provisional sales agent’s license for an applicant who submits: (a) A complete application for a sales agent’s license in compliance with NRS 119A.210 and applicab…

NRS 119A.235 Provisional sales agents: Expiration of licenses; application to work for new project broker; termination of employment; denial of application for license. 1. A provisional license issued to an applicant by the Division will expire automatically: (a) If the Division …

NRS 119A.237 Provisional sales agents: Restrictions; duties of project broker or supervising licensee; commissions. 1. A provisional licensee shall not: (a) Conduct sales-related activities unless the provisional licensee is: (1) Under the supervision of: (I) His or her project b…

NRS 119A.240 Representatives: Qualifications for registration. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational lice…