Title 10

NRS 116.311395 Funds of association to be deposited or invested at certain financial institutions. 1. Except as otherwise provided in subsection 2, an association, a member of the executive board, or a community manager shall deposit or invest all funds of the association at a fi…

NRS 116.3114 Surplus funds. Unless otherwise provided in the declaration, any surplus funds of the association remaining after payment of or provision for common expenses and any prepayment of reserves must be paid to the units’ owners in proportion to their liabilities for commo…

NRS 116.31142 Preparation and presentation of financial statements. 1. The Commission shall adopt regulations prescribing the requirements for the preparation and presentation of financial statements of an association pursuant to this chapter. 2. The regulations adopted by the Co…

NRS 116.31144 Audit and review of financial statements. 1. Except as otherwise provided in subsection 2, the executive board shall: (a) If the annual budget of the association is $45,000 or more but less than $75,000, cause the financial statement of the association to be reviewe…

NRS 116.3115 Assessments for common expenses; funding of adequate reserves; collection of interest on past due assessments; calculation of assessments for particular types of common expenses; notice of meetings regarding assessments for capital improvements. 1. Until the associat…

NRS 116.31151 Annual distribution to units’ owners of operating and reserve budgets or summaries of such budgets and policy for collection of fees, fines, assessments or costs; ratification of budget. 1. Except as otherwise provided in subsection 2 and unless the declaration of a…

NRS 116.31152 Study of reserves; duties of executive board regarding study; qualifications of person who conducts study; contents of study; submission of summary of study to Division; use of money credited against residential construction tax for upkeep of park facilities and rel…

NRS 116.31153 Signatures required for withdrawals of certain association funds; exceptions. 1. Money in the reserve account of an association required by paragraph (b) of subsection 2 of NRS 116.3115 may not be withdrawn without the signatures of at least two members of the execu…

NRS 116.31155 Fees imposed on associations or master associations to pay for costs of administering Office of Ombudsman and Commission; administrative penalties for failure to pay; interest on unpaid fees; limitations on amount of fees and penalties; procedure to recover fees, pe…

NRS 116.31158 Registration of associations with Ombudsman; contents of form for registration. 1. Each association shall, at the time it pays the fee required by NRS 116.31155, register with the Ombudsman on a form prescribed by the Ombudsman. 2. The form for registration must inc…

NRS 116.3116 Liens against units for assessments. 1. The association has a lien on a unit for any construction penalty that is imposed against the unit’s owner pursuant to NRS 116.310305, any assessment levied against that unit or any fines imposed against the unit’s owner from t…

NRS 116.31162 Foreclosure of liens: Mailing or delivery of notice of delinquent assessment; recording of notice of default and election to sell; period during which unit’s owner may pay lien to avoid foreclosure; limitations on type of lien that may be foreclosed. 1. Except as ot…

NRS 116.311625 Foreclosure of liens: Limitations, requirements and procedures applicable to servicemembers and their dependents; penalty; liability; tolling. 1. Notwithstanding any other provision of law and except as otherwise provided in subsection 2 or ordered by a court of co…

NRS 116.311627 Foreclosure of liens: Limitations, requirements and procedures applicable to federal workers, tribal workers and state workers and household members and landlords of such workers in connection with shutdown; penalty; liability. 1. Notwithstanding any other provisio…

NRS 116.31163 Foreclosure of liens: Mailing of notice of default and election to sell to certain interested persons. The association or other person conducting the sale shall also mail, within 10 days after the notice of default and election to sell is recorded, a copy of the not…

NRS 116.311635 Foreclosure of liens: Providing notice of time and place of sale; service of notice of sale; contents of notice of sale; proof of service. 1. The association or other person conducting the sale shall also, after the expiration of the 90-day period described in para…

NRS 116.31164 Foreclosure of liens: Procedure for conducting sale; satisfaction of lien before sale; persons prohibited from purchasing unit; execution and delivery of deed; use of proceeds of sale. 1. The sale must be conducted in accordance with the provisions of this section. …

NRS 116.31166 Foreclosure of liens: Title vested in purchaser subject to right of redemption; sale does not extinguish first security interest if superior amount of lien is satisfied; certificate of sale; exercise of right of redemption; deed without warranty; effect of recitals …

NRS 116.31168 Foreclosure of liens: Requests by interested persons for notice of default and election to sell or notice of sale. 1. A person with an interest or any other person who is or may be held liable for any amounts which are the subject of the association’s lien pursuant …

NRS 116.3117 Liens against association. 1. In a condominium or planned community: (a) Except as otherwise provided in paragraph (b), a judgment for money against the association, if a copy of the docket or an abstract or copy of the judgment is recorded, is not a lien on the comm…

NRS 116.31175 Maintenance and availability of books, records and other papers of association: General requirements; exceptions; general records concerning certain violations; enforcement by Ombudsman; limitations on amount that may be charged to conduct review. 1. Except as other…

NRS 116.3118 Maintenance and availability of certain financial records necessary to provide information required for resale of units; right of units’ owners to inspect, examine, photocopy and audit records of association. 1. The association shall keep financial records sufficient…

NRS 116.31183 Retaliatory action prohibited; separate action by unit’s owner. 1. An executive board, a member of an executive board, a community manager or an officer, employee or agent of an association shall not take, or direct or encourage another person to take, any retaliato…

NRS 116.31184 Threats, harassment and other conduct prohibited; penalty. 1. A community manager, an agent or employee of the community manager, a member of the executive board, an officer, employee or agent of an association, a unit’s owner or a guest or tenant of a unit’s owner …

NRS 116.31185 Prohibition against certain personnel soliciting or accepting compensation, gratuity or remuneration under certain circumstances. 1. Except as otherwise provided in subsection 2, a member of an executive board, an officer of an association or a community manager sha…

NRS 116.31187 Prohibition against certain personnel contracting with association or accepting commission, personal profit or compensation from association; exceptions. 1. Except as otherwise provided in this section, a member of an executive board or an officer of an association …

NRS 116.31189 Bribery of community manager or member of executive board; penalties; exceptions. 1. Except as otherwise provided in subsection 3, a community manager or member of the executive board who asks for or receives, directly or indirectly, any compensation, gratuity or re…

NRS 116.3119 Association as trustee. With respect to a third person dealing with the association in the association’s capacity as a trustee, the existence of trust powers and their proper exercise by the association may be assumed without inquiry. A third person is not bound to i…

NRS 116.318 Right of units’ owners to keep pet. 1. Except as otherwise provided in subsections 2, 3 and 4, the executive board of an association shall not and the governing documents of that association must not prohibit a unit’s owner from keeping at least one pet within such ph…

NRS 116.320 Right of units’ owners to display flag of the United States or of the State of Nevada in certain areas; conditions and limitations on exercise of right. 1. Except as otherwise provided in subsection 2, the executive board of an association shall not and the governing …

NRS 116.323 Right of unit’s owner to display religious or cultural items in certain areas; conditions and limitations on exercise of right. 1. Except as otherwise provided in subsection 2 or 3, the executive board of an association or a unit’s owner who rents or leases his or her…

NRS 116.325 Right of units’ owners to exhibit political signs in certain areas; conditions and limitations on exercise of right. 1. The executive board shall not and the governing documents must not prohibit a unit’s owner or an occupant of a unit from exhibiting one or more poli…

NRS 116.330 Right of units’ owners to install or maintain drought tolerant landscaping; conditions and limitations on exercise of right; installation of drought tolerant landscaping within common elements. 1. The executive board shall not and the governing documents must not proh…

NRS 116.332 Right of units’ owners to store containers for collection of solid waste or recyclable materials; adoption of rules by association. 1. Except as otherwise provided in this section, an association of a planned community may not regulate or restrict the manner in which …

NRS 116.333 Request by unit’s owner to install distributed generation system; approval or denial of request; resubmission of request. 1. A unit’s owner in an association whose governing documents authorize the association to impose restrictions on architectural improvements who w…

NRS 116.334 Adoption of rules and regulations by association related to installation of distributed generation system; conditions and limitations. 1. An association whose governing documents authorize the association to impose restrictions on architectural improvements may adopt …

NRS 116.335 Adoption of rules and regulations by association related to certain restrictions or prohibitions in declaration concerning renting or leasing units; exceptions. 1. If the declaration authorizes the association to prohibit or restrict the unit’s owner from renting or l…

NRS 116.340 Transient commercial use of units within certain planned communities. 1. Except as otherwise provided in subsection 2, a person who owns, or directly or indirectly has an interest in, one or more units within a planned community that are restricted to residential use …

NRS 116.345 Association of planned community prohibited from taking certain actions regarding property, buildings and structures within planned community; validity of existing restrictions. 1. An association of a planned community may not restrict, prohibit or otherwise impede th…

NRS 116.347 Prohibition against restricting hours construction work may begin; exceptions. 1. If the governing body of a county or city in which a declarant-controlled common-interest community is located adopts an ordinance restricting the hours in which construction work may be…

NRS 116.350 Limitations regarding regulation of certain roads, streets, alleys or other thoroughfares; permissible regulation of parking or storage of certain vehicles. 1. In a common-interest community which is not gated or enclosed and the access to which is not restricted or c…

NRS 116.4101 Applicability; exceptions. 1. NRS 116.4101 to 116.412, inclusive, apply to all units subject to this chapter, except as otherwise provided in subsection 2 or as modified or waived by agreement of purchasers of units in a common-interest community in which all units a…

NRS 116.4102 Liability for preparation and delivery of public offering statement. 1. Except as otherwise provided in subsection 2, a declarant, before offering any interest in a unit to the public, shall prepare a public offering statement conforming to the requirements of NRS 11…

NRS 116.4103 Public offering statement: General provisions. 1. Except as otherwise provided in NRS 116.41035, a public offering statement must set forth or fully and accurately disclose each of the following: (a) The name and principal address of the declarant and of the common-i…

NRS 116.41035 Public offering statement: Limitations for certain small offerings. If a common-interest community composed of not more than 12 units is not subject to any developmental rights and no power is reserved to a declarant to make the common-interest community part of a l…

NRS 116.4104 Public offering statement: Common-interest communities subject to developmental rights. If the declaration provides that a common-interest community is subject to any developmental rights, the public offering statement must disclose, in addition to the information re…