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 the project is located; or (c) Any state where the developer has obtained a permit to sell time shares under statutes 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 designated by the developer, may appoint and remove the officers of the association and the members of the board. Regardless of the period provided in […]

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 project. 3. Subdivide units or convert units into a common area. 4. Make and […]

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 relocated to another unit or parcel on which units are located: (a) If the replacement unit or parcel: (1) Is within […]

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 meeting. 2. Unless the bylaws of an association […]

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, who are entitled to vote at any meeting of the owners at which a quorum is present, may remove any member of the […]

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) Provide information to other owners with respect to legitimate matters of business of the association. (b) Mail to all persons included in the list of […]

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, the developer or an affiliate of the developer shall provide for the management of the time-share plan and the project, by a written agreement with the association or, if there is […]

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 licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.] Registration of managers; form for registration; fee. [Effective on 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 licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]

1. A person who wishes to engage in the business of, act in the capacity of, advertise or assume to act as a manager of a project located in this State shall register with the Division on a form prescribed by the Division. 2. The form for registration must include, without limitation: (a) The registered […]

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 in this chapter, an applicant for the renewal of registration with the Division to engage in the business of, act in the capacity of, advertise or assume to act as a manager must indicate in the application submitted to the Division whether the applicant has a […]

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 the Division a disclosure statement that contains a description of any arrangement made by the manager or an affiliate […]

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 from the owners. The annual budgets of an association governing a project within this State must be submitted to the Division […]

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, replace and restore the major components of the project; (b) Review the results of that study at least annually to determine if those reserves are sufficient; and […]

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 the time the assessment is made. The amount of the assessment plus any other charges thereon, such as interest, costs, attorney’s fees and […]

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 owner’s time share. The statement must be furnished within 10 business days after receipt […]

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 and election to sell the time share or cause its sale to […]

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, insuring against all risks of direct physical loss commonly insured against, with a provision […]

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 other owner, or against any part thereof, or against any other property of any other owner, unless the other owner […]