Title 10

NRS 119A.4771 Registration and licensing of person listing, advertising, transferring, assisting in transferring, soliciting or promoting sale of more than 12 previously sold time shares in 12-month period on behalf of owner other than developer; exception. 1. A person who, on be…

NRS 119A.4775 Cancellation of contract of sale; disclosure of certain information before resale; purchaser to be provided copies of time-share instruments upon signing contract; regulations. 1. If the purchaser of a previously sold time share purchases the time share through a ti…

NRS 119A.4777 Requirements for agreement for resale of time share; time-share resale broker to provide copy of agreement to owner. 1. An agreement for the resale of a time share entered into by an owner of that time share and a time-share resale broker who lists or offers to rese…

NRS 119A.4779 Advance fee charged or collected by time-share resale broker; requirements for contract for advance fee listing; duties and prohibited acts; violation constitutes unfair or deceptive act or practice; civil penalty. 1. In addition to the provisions of NRS 645.322, 64…

NRS 119A.480 Requirements if developer holds leasehold interest. 1. If the interest of the developer is a leasehold interest, the lease, unless otherwise determined by the Administrator, must provide that: (a) The lessee must give notice of termination of the lease for any defaul…

NRS 119A.485 Developer to provide to board copy of approved public offering statement and amendments thereto. The developer shall provide the board with a copy of the approved public offering statement and any amendments thereto, to be maintained by the association as part of the…

NRS 119A.495 Withdrawal of units from time-share plan; conditions of withdrawal; exceptions. 1. Except as otherwise provided in subsection 2, if a time-share instrument authorizes the developer to withdraw units from the time-share plan, any unit that is subject to withdrawal may…

NRS 119A.497 Relocation of boundaries between adjoining units. 1. Except as otherwise provided in subsection 2 and subject to the provisions of the time-share instrument and other provisions of law, a developer may, with the prior approval of the Division, relocate the boundaries…

NRS 119A.500 Partition of unit. No action for partition of a unit may be maintained except as provided in the time-share instrument. If a time share is owned by two or more persons, an action may be brought for the judicial sale of the time share. A provision for the waiver or su…

NRS 119A.510 Replacement or compensation if unit unavailable. If a unit is unavailable for a period to which the owner is entitled by schedule or by confirmed reservation, the owner is entitled to be provided by the association: 1. A comparable unit; or 2. Monetary compensation f…

NRS 119A.515 Publication of information concerning owners: Maintenance of records; consent required; exceptions. 1. A manager or, if there is no manager, the board shall maintain in the records of an association a complete list of the names and mailing addresses of all owners. Th…

NRS 119A.520 Members of association for time-share plan; incorporation of association; proxies. 1. Each owner is a member of the association for the time-share plan. The association may be incorporated. 2. The state of incorporation may be: (a) This state; (b) The state in which …

NRS 119A.522 Period of developer’s control of association; representation of owners on board. 1. Except as otherwise provided in this section, a time-share instrument may provide for a period of the developer’s control of an association during which the developer, or a person des…

NRS 119A.524 Reserved rights of developer. A developer’s reserved rights may include, without limitation, the right to: 1. Add units or real estate to, and withdraw units or real estate from, a time-share plan. 2. Create units, a common area or a limited common area within the pr…

NRS 119A.525 Relocation of certain time shares by developer; conditions of relocation; recordation. 1. Any time share that is an undivided fee simple interest or leasehold interest in a unit or parcel on which units are located, and any time share that is a license, may be reloca…

NRS 119A.526 Quorum. 1. Unless the bylaws of an association specify a larger percentage, a quorum is present throughout any meeting of the association if persons entitled to cast 10 percent of the votes that may be cast are present in person or by proxy at the beginning of the me…

NRS 119A.528 Removal of member of board; indemnification and defense of member of board. 1. Notwithstanding any provision of a time-share instrument or the bylaws of an association to the contrary, the owners, by a two-thirds vote of all persons present, in person or by proxy, wh…

NRS 119A.529 Solicitation of votes and proxies by owner; requirements for mailing by managers and boards. 1. A manager or, if there is no manager, the board shall: (a) Establish reasonable procedures by which owners may: (1) Solicit votes or proxies from other owners; and (2) Pro…

NRS 119A.530 Written agreement for management of time-share plan and project; disclosure of certain fees, compensation or other property by manager. 1. During any period in which the developer holds a valid permit and the developer or an affiliate of the developer is the manager,…

NRS 119A.532 Registration of managers; form for registration; fee. [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 …

NRS 119A.533 Renewal of registration of managers: 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 i…

NRS 119A.534 Disclosure statement to be submitted by certain managers; regulations. 1. A manager of a project located in this State who enters into or renews an agreement that must comply with the provisions of subsection 3 of NRS 119A.530 shall submit to the association and to t…

NRS 119A.540 Annual budget; assessments for unsold time shares. 1. The association or, if there is no association, the developer shall adopt an annual budget for revenues, expenditures and reserves and collect assessments for the expenses of the time-share plan and the project fr…

NRS 119A.542 Conduct and contents of study of reserves; review of study and necessary adjustments to reserves; regulations. 1. The developer or board of an association shall: (a) Cause to be conducted at least once every 5 years, a study of the reserves required to repair, replac…

NRS 119A.550 Assessment upon time share; notice of assessment; liens; enforcement of liens. 1. The developer or the association may levy and enforce a reasonable assessment upon any time share in accordance with the time-share instrument, which is a debt of the owner thereof at t…

NRS 119A.552 Statement of unpaid assessments. An association, upon the receipt of a written request, shall furnish to an owner or any lender who has a security interest in a time share or the project, a statement setting forth the amount of unpaid assessments made against the own…

NRS 119A.560 Power of sale; notice of sale. 1. The power of sale may not be exercised until: (a) The developer or the association, its agent or attorney has first executed and caused to be recorded with the recorder of the county wherein the project is located a notice of default…

NRS 119A.570 Insurance. 1. The developer or the association, if it has been formed, shall maintain: (a) Property insurance on the project and any personal property available for use by the owners in conjunction therewith, other than personal property separately owned by an owner,…

NRS 119A.580 Consent required for liens for labor, services or materials; when consent deemed given. No labor performed or services or materials furnished with the consent of or at the request of an owner may be the basis for the filing of a lien against the time share of any oth…

NRS 119A.590 Information to be furnished to purchasers by developer. 1. A developer who offers a program for the exchange of occupancy rights among owners or with the owners of time shares in other time-share plans, or both, shall give to the purchaser the following information: …

NRS 119A.600 Information to be furnished by company offering program. If a company intends to offer a program for the exchange of occupancy rights among owners or with the owners of time shares in other time-share plans, or both, directly to a purchaser or owner, the company shal…

NRS 119A.620 Information to be furnished to Division and secretary of association; liability for information and representations. 1. A company whose program for the exchange of occupancy rights among owners or with the owners of time shares in other time-share plans, or both, is …

NRS 119A.630 Administrator to appoint hearing officer. For any proceeding held pursuant to a provision of this chapter, except a hearing to impose a fine or revoke, suspend or deny the renewal of a license or permit, the Administrator may appoint a hearing officer from the staff …

NRS 119A.640 Powers of Administrator or hearing officer. The Administrator or his or her hearing officer may: 1. Take testimony and other evidence concerning all matters within the jurisdiction of the Division pursuant to this chapter; 2. Administer oaths; 3. Certify to all offic…

NRS 119A.650 District court to enforce Administrator’s subpoenas. 1. The district court in the county in which a hearing is to be held may compel the attendance of witnesses, the giving of testimony and the production of books and papers as requested by any subpoena issued by the…

NRS 119A.652 Inspections by Division; penalty for failure to cooperate; regulations. 1. The Division shall regularly inspect the files of transactions, records of trusts and relevant accounts of all project brokers and developers. 2. If a project broker or developer fails to allo…

NRS 119A.653 Confidentiality of records: Certain records relating to complaint or investigation deemed confidential; certain records relating to disciplinary action deemed public records. 1. Except as otherwise provided in this section and NRS 239.0115, a complaint filed with the…

NRS 119A.654 Disciplinary action against developer. The Administrator may impose a fine or suspend, revoke, deny the renewal of or place conditions upon the permit of a developer at any time if the developer: 1. Obtained the permit by false or fraudulent representation; or 2. Vio…

NRS 119A.655 Procedure for imposing fine or revoking, suspending or denying renewal of license or permit: Complaint; hearing; notice. 1. The procedure set forth in this section must be followed before the Administrator or Division imposes a fine or revokes, suspends or denies the…

NRS 119A.656 Procedure for imposing fine or revoking, suspending or denying renewal of license or permit: Answer; limitation on proceeding. 1. Within 20 days after service of the notice upon him or her, the licensee or permittee shall file an answer to the charges with the Divisi…

NRS 119A.657 Procedure for imposing fine or revoking, suspending or denying renewal of license or permit: Decision of hearing officer. 1. The hearing officer shall render a decision on any complaint within 60 days after the final hearing thereon and shall give notice in writing o…

NRS 119A.658 Procedure for imposing fine or revoking, suspending or denying renewal of license or permit: Appeal of decision of hearing officer. 1. A ruling or decision of the hearing officer in any disciplinary action is final when in favor of the licensee or permittee. 2. If a …

NRS 119A.659 Expiration, revocation or surrender of license or permit does not prohibit disciplinary action against holder thereof. The expiration or revocation of a license or permit by operation of law or by order or decision of a hearing officer or a court of competent jurisdi…

NRS 119A.660 Enforcement of chapter and protection of purchasers by Administrator. 1. Whenever the Administrator believes that any person has violated any order, regulation, permit, decision, demand or requirement, or any of the provisions of this chapter, the Administrator may b…

NRS 119A.665 Appointment of receiver. 1. When the Administrator ascertains that an association or a developer, if there is no association, is insolvent or in imminent danger of insolvency, or the association’s or developer’s affairs are being mismanaged, the Administrator may fil…

NRS 119A.670 Action by Real Estate Commission against project broker or supervising licensee. The Real Estate Commission may take action pursuant to NRS 645.630 against any project broker or person who is licensed pursuant to chapter 645 of NRS and who is subject to the provision…