Title 10

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…

NRS 119A.250 Representatives: Expiration, renewal, reinstatement and transfer of 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, oc…

NRS 119A.255 Representatives: Application for renewal of registration 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 a…

NRS 119A.260 Representatives: Prohibited acts; compliance with standards applied to real estate brokers and salespersons. 1. A representative shall not negotiate the sale of, or discuss prices of, a time share. A representative may only induce and solicit persons to attend promot…

NRS 119A.263 Payment of child support: Statement by applicant for sales agent’s license or registration as representative or manager; grounds for denial of license or registration; duty of Administrator. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law …

NRS 119A.266 Suspension of sales agent’s license or registration as representative or manager for failure to pay child support or comply with certain subpoenas or warrants; reinstatement of suspended license or registration. [Effective until the date of the repeal of 42 U.S.C. § …

NRS 119A.268 Branch offices. 1. Every branch office must be operated under the supervision of a real estate broker or real estate broker-salesperson who is licensed pursuant to chapter 645 of NRS and who has had at least 2 years of experience as an active real estate broker or re…

NRS 119A.270 Developers: Prohibited acts. A developer shall not: 1. Offer to sell any time shares in this state unless the developer holds either a preliminary permit to sell time shares or a permit to sell time shares issued by the Administrator pursuant to the provisions of thi…

NRS 119A.280 Developers: Order to cease; hearing; agreement in lieu of order. 1. The Administrator may issue an order directing a developer to cease engaging in activities for which the developer has not received or been deemed to have received a permit under this chapter or cond…

NRS 119A.285 Developers: Inapplicability of certain provisions to offer or disposition of certain time shares. The provisions of NRS 119A.290 to 119A.470, inclusive, 119A.480 and 119A.720 do not apply to a developer who has a valid permit issued pursuant to this chapter concernin…

NRS 119A.290 Preliminary permits. 1. The Administrator shall issue a preliminary permit to sell time shares to each applicant who: (a) Submits proof satisfactory to the Administrator that all of the requirements for a permit to sell time shares will be met; (b) Applies for the pr…

NRS 119A.300 Requirements for issuance of initial permit. Except as otherwise provided in NRS 119A.310, the Administrator shall issue an initial permit to sell time shares to each applicant who: 1. Files by electronic means or in any other manner prescribed by the Administrator, …

NRS 119A.302 Abbreviated registration: Requirements; certain developers excluded from using; documents to be provided to purchasers. 1. In lieu of the statement of record required pursuant to NRS 119A.300, the Division may accept an abbreviated registration from a developer of a …

NRS 119A.304 Developer to file amended statement of record if material change to time-share plan; effectiveness; correction of deficiencies; amendment to time-share instrument required to be filed with Division; approval of amendment by Division. 1. If there is a material change …

NRS 119A.305 Terms and conditions of supporting documents: Description in public offering statement; conditions of permit. The terms and conditions of the documents and agreements submitted pursuant to NRS 119A.300 and 119A.307 which relate to the creation and management of the t…

NRS 119A.307 Filing of public offering statement; form; contents; copies of certain documents to be provided to purchaser; waiver of requirements by Administrator. 1. The developer shall file a public offering statement with the Division for approval for use as prescribed in NRS …

NRS 119A.310 Grounds for denial of permit; burden of proof. 1. The Administrator shall deny an application for a permit to sell time shares if the Administrator finds that: (a) The developer failed to comply with any of the provisions of this chapter or the regulations adopted by…

NRS 119A.320 Period for action on application. 1. The Administrator shall, within 60 days after the receipt of an initial application for a permit to sell time shares in a time-share plan containing only one component site, regardless of whether additional component sites may be …

NRS 119A.330 Hearing on denial of application, amendment to statement of record or renewal of permit; expiration of order of denial. 1. If the Administrator denies an application for a permit to sell time shares, an amendment to the statement of record or the renewal of a permit …

NRS 119A.340 Issuance of permit before completion of project. If a project has not been completed before the issuance of a permit to sell time shares, the public offering statement must state the estimated date of completion and: 1. The developer shall establish to the satisfacti…

NRS 119A.350 Investigation of applicants; expenses. 1. The Division may, before issuing any permit or license pursuant to the provisions of this chapter, fully investigate all information submitted to it as required by this chapter and, if necessary, inspect the property which is…

NRS 119A.355 Renewal of permit. 1. A permit must be renewed annually by the developer by filing an application with and paying the fee for renewal to the Administrator. The application must be filed and the fee paid not later than 30 days before the date on which the permit expir…

NRS 119A.357 Requirement to notify Division in writing of certain convictions. 1. A sales agent, representative, manager, developer, project broker, time-share resale broker or person licensed pursuant to chapter 645 of NRS and subject to the provisions of this chapter shall noti…

NRS 119A.358 Creation and maintenance of website through which licenses, permits or registrations may be renewed; fees. The Division may: 1. Create and maintain a secure website on the Internet through which each license, permit or registration issued pursuant to the provisions o…

NRS 119A.360 Fees. 1. The Division shall collect the following fees at the time of filing: For each application for the registration of a representative........................ $100 For each renewal of the registration of a representative.................................. 100 For…

NRS 119A.365 Disciplinary action for failure to pay money to Division. In addition to any other remedy or penalty, the Administrator may: 1. Refuse to issue a license, permit, certificate or registration to a person who has failed to pay money which the person owes to the Divisio…

NRS 119A.380 Requirements for time-share instruments. 1. Each time-share plan must be created by one or more time-share instruments. 2. A time-share instrument must provide: (a) A legal description and the physical address of the project; (b) The name of the time-share plan; (c) …

NRS 119A.385 Description of time share. A description of a time share is a legally sufficient description of the time share and all rights, obligations and interests appurtenant to that time share that were created by the time-share plan if the description includes, without limit…

NRS 119A.390 Reservation to purchase time share. A reservation to purchase a time share must: 1. Be on a form approved by the Division; 2. Include a provision which grants the prospective purchaser the right to cancel the reservation at any time before the execution of the contra…

NRS 119A.400 Prospective purchasers to be provided with public offering statement, addendum and permit. 1. Before the execution of any contract for the sale of a time share, the developer or, if the developer sells time shares through his or her project broker and sales agents, t…

NRS 119A.410 Right to cancel contract of sale. 1. The purchaser of a time share may cancel, by written notice, the contract of sale until midnight of the fifth calendar day following the date of execution of the contract. The contract of sale must include a statement of this righ…

NRS 119A.420 Deposits to be placed in escrow account; surety bond in lieu of escrow account. All money, negotiable instruments or other deposits pertaining to the sale of a time share which are received from a purchaser must be placed in an escrow account established to the satis…

NRS 119A.430 Requirements for closing of sale of time share. The sale of a time share to a purchaser may not be closed unless the developer has provided satisfactory evidence to the Administrator that: 1. The project is free and clear of any blanket encumbrance; 2. Each person wh…