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NRS 116.3101 – Organization of unit-owners’ association.

1. A unit-owners’ association must be organized no later than the date the first unit in the common-interest community is conveyed. 2. The membership of the association at all times consists exclusively of all units’ owners or, following termination of the common-interest community, of all owners of former units entitled to distributions of proceeds under […]

NRS 116.3102 – Powers of unit-owners’ association; limitations. [Effective through December 31, 2021.] Powers of unit-owners’ association; limitations. [Effective January 1, 2022.]

1. Except as otherwise provided in this chapter, and subject to the provisions of the declaration, the association: (a) Shall adopt and, except as otherwise provided in the bylaws, may amend bylaws and may adopt and amend rules and regulations. (b) Shall adopt and may amend budgets in accordance with the requirements set forth in […]

NRS 116.3103 – Power of executive board to act on behalf of association; members and officers are fiduciaries; duty of care; application of business-judgment rule and conflict of interest rules; limitations on power.

1. Except as otherwise provided in the declaration, the bylaws, this section or other provisions of this chapter, the executive board acts on behalf of the association. In the performance of their duties, the officers and members of the executive board are fiduciaries and shall act on an informed basis, in good faith and in […]

NRS 116.310305 – Power of executive board to impose construction penalties for failure of unit’s owner to adhere to certain schedules relating to design, construction, occupancy or use of unit or improvement.

1. A unit’s owner shall adhere to a schedule required by the association for: (a) The completion of the design of a unit or the design of an improvement to a unit; (b) The commencement of the construction of a unit or the construction of an improvement to a unit; (c) The completion of the […]

NRS 116.31031 – Power of executive board to impose fines and other sanctions for violations of governing documents; regulations; limitations; procedural requirements; continuing violations; collection of past due fines; statement of balance owed.

1. Except as otherwise provided in this section, if a unit’s owner or a tenant or an invitee of a unit’s owner or a tenant violates any provision of the governing documents of an association, the executive board may, if the governing documents so provide: (a) Prohibit, for a reasonable time, the unit’s owner or […]

NRS 116.310312 – Power of executive board to enter grounds of unit to conduct certain maintenance or remove or abate public nuisance or to enter grounds or interior of unit to abate water or sewage leak or take other action; holder of security interest in unit required to provide certain information to association; imposition of fines and costs; lien against unit; limitation on liability.

1. A person who holds a security interest in a unit must provide the association with the person’s contact information as soon as reasonably practicable, but not later than 30 days after the person: (a) Files an action for recovery of a debt or enforcement of any right secured by the unit pursuant to NRS […]

NRS 116.310315 – Accounting for fines imposed by association.

If an association has imposed a fine against a unit’s owner or a tenant or an invitee of a unit’s owner or a tenant pursuant to NRS 116.31031 for violations of the governing documents of the association, the association shall establish a compliance account to account for the fine, which must be separate from any […]

NRS 116.31034 – Election of members of executive board and officers of association; term of office of member of executive board; staggered terms; eligibility to be candidate for or member of executive board or officer of association; required disclosures; procedure for conducting elections; certification by member of executive board of understanding of governing documents and provisions of chapter.

1. Except as otherwise provided in subsection 5 of NRS 116.212, not later than the termination of any period of declarant’s control, the units’ owners shall elect an executive board of at least three members, all of whom must be units’ owners. The executive board shall elect the officers of the association. Unless the governing […]

NRS 116.31036 – Removal of member of executive board.

1. Notwithstanding any provision of the declaration or bylaws to the contrary, any member of the executive board, other than a member appointed by the declarant, may be removed from the executive board, with or without cause, if at a removal election held pursuant to this section, the number of votes cast in favor of […]

NRS 116.3104 – Transfer of special declarant’s right.

1. A special declarant’s right created or reserved under this chapter may be transferred only by an instrument evidencing the transfer recorded in every county in which any portion of the common-interest community is located. Except as otherwise provided in subsection 3, the instrument is not effective unless executed by the transferee. 2. Upon transfer […]

NRS 116.3105 – Termination of contracts and leases of declarant.

1. Within 2 years after the executive board elected by the units’ owners pursuant to NRS 116.31034 takes office, the association may terminate without penalty, upon not less than 90 days’ notice to the other party, any of the following if it was entered into before that executive board was elected: (a) Any management, maintenance, […]