Nevada Revised Statutes (Last Updated: December 24, 2014) |
TITLE10 PROPERTY RIGHTS AND TRANSACTIONS |
CHAPTER116B. Condominium Hotel Act |
GENERAL PROVISIONS |
Definitions and Other General Provisions |
NRS 116B.005. Short title. |
NRS 116B.010. Definitions. |
NRS 116B.015. “Administrator” defined. |
NRS 116B.020. “Affiliate of a declarant” defined. |
NRS 116B.025. “Allocated interests” defined. |
NRS 116B.030. “Association” and “unit-owners’ association” defined. |
NRS 116B.035. “Commission” defined. |
NRS 116B.040. “Common elements” defined. |
NRS 116B.045. “Common expenses” defined. |
NRS 116B.050. “Community manager” defined. |
NRS 116B.055. “Complaint” defined. |
NRS 116B.060. “Condominium hotel” defined. |
NRS 116B.065. “Converted building” defined. |
NRS 116B.070. “Dealer” defined. |
NRS 116B.075. “Declarant” defined. |
NRS 116B.080. “Declaration” defined. |
NRS 116B.085. “Developmental rights” defined. |
NRS 116B.090. “Dispose” and “disposition” defined. |
NRS 116B.095. “Division” defined. |
NRS 116B.100. “Executive board” defined. |
NRS 116B.105. “Financial statement” defined. |
NRS 116B.110. “Governing documents” defined. |
NRS 116B.115. “Hearing panel” defined. |
NRS 116B.120. “Hotel unit” defined. |
NRS 116B.125. “Hotel unit owner” defined. |
NRS 116B.130. “Identifying number” defined. |
NRS 116B.135. “Leasehold condominium hotel” defined. |
NRS 116B.140. “Liability for common expenses” defined. |
NRS 116B.145. “Liability for shared expenses” defined. |
NRS 116B.150. “Limited common element” defined. |
NRS 116B.155. “Major component of the common elements” defined. |
NRS 116B.160. “Major component of the hotel unit” defined. |
NRS 116B.165. “Major component of the shared components” defined. |
NRS 116B.170. “Offering” defined. |
NRS 116B.175. “Ombudsman” defined. |
NRS 116B.180. “Party to the complaint” defined. |
NRS 116B.185. “Person” defined. |
NRS 116B.190. “Purchaser” defined. |
NRS 116B.195. “Real estate” defined. |
NRS 116B.200. “Residential unit” defined. |
NRS 116B.205. “Residential unit owner” defined. |
NRS 116B.210. “Security interest” defined. |
NRS 116B.215. “Shared components” defined. |
NRS 116B.220. “Shared expenses” defined. |
NRS 116B.225. “Special declarant’s rights” defined. |
NRS 116B.230. “Time share” defined. |
NRS 116B.235. “Unit” defined. |
NRS 116B.240. “Unit’s owner” defined. |
NRS 116B.245. Provisions of chapter may not be varied by agreement, waived or evaded; exceptions. |
NRS 116B.250. Applicability of local ordinances, regulations and building codes. |
NRS 116B.255. Eminent domain. |
NRS 116B.260. Supplemental general principles of law applicable. |
NRS 116B.265. Provisions of chapter prevail over conflicting provisions governing certain business entities generally. |
NRS 116B.270. Construction against implicit repeal. |
NRS 116B.275. Unconscionable agreement or term of contract. |
NRS 116B.280. Obligation of good faith. |
NRS 116B.285. Remedies to be liberally administered. |
Applicability |
NRS 116B.290. Applicability. |
NRS 116B.295. Provisions of governing documents in violation of chapter deemed to conform with chapter by operation of law. |
NRS 116B.300. Notice of changes to governing documents. |
CREATION, ALTERATION AND TERMINATION OF CONDOMINIUM HOTELS |
NRS 116B.305. Creation of condominium hotels. |
NRS 116B.310. Hotel unit boundaries. |
NRS 116B.315. Control of hotel units; use of shared components. |
NRS 116B.320. Construction and validity of declaration and bylaws. |
NRS 116B.325. Description of units. |
NRS 116B.330. Contents of declaration. |
NRS 116B.335. Leasehold condominium hotels. |
NRS 116B.340. Allocation of allocated interests. |
NRS 116B.345. Limited common elements. |
NRS 116B.350. Plats. |
NRS 116B.355. Exercise of developmental rights. |
NRS 116B.360. Alterations of units; access to units. |
NRS 116B.365. Monuments as boundaries. |
NRS 116B.370. Relocation of boundaries between adjoining units. |
NRS 116B.375. Subdivision of units. |
NRS 116B.380. Amendment of declaration. |
NRS 116B.385. Termination of condominium hotel. |
NRS 116B.390. Rights of creditors following termination. |
NRS 116B.395. Respective interests of units’ owners following termination. |
NRS 116B.400. Effect of foreclosure or enforcement of lien or encumbrance. |
NRS 116B.405. Rights of secured lenders. |
NRS 116B.410. Merger or consolidation of condominium hotels; reallocation of liability for shared expenses. |
MANAGEMENT OF CONDOMINIUM HOTELS |
General Provisions |
NRS 116B.415. Organization of unit-owners’ association. |
NRS 116B.420. Powers of unit-owners’ association. |
NRS 116B.425. Power of executive board to act on behalf of association; members and officers are fiduciaries; duty of care; application of business-judgment rule; limitations on power. |
NRS 116B.430. Power of executive board to impose fines and other sanctions for violations of governing documents; procedural requirements; continuing violations; collection of past due fines. |
NRS 116B.435. Accounting for fines in books and records of association; prohibition against applying payment for assessment, fee or other charge toward payment of fine; exceptions. |
NRS 116B.440. Period of declarant’s control of association; representation of units’ owners on executive board. |
NRS 116B.450. Removal of member of executive board; indemnification and defense of member of executive board. |
NRS 116B.455. Delivery to association of property held or controlled by declarant; exceptions. |
NRS 116B.460. Delivery to association of additional common elements constructed by declarant or successor declarant. |
NRS 116B.465. Delivery to association of converted shared component reserve deficit. |
NRS 116B.470. Delivery to association of converted common element reserve deficit. |
NRS 116B.475. Transfer of special declarant’s right. |
NRS 116B.480. Liabilities and obligations of person who succeeds to special declarant’s rights. |
NRS 116B.485. Successor not subject to certain claims against or other obligations of transferor of special declarant’s right. |
NRS 116B.490. Bylaws. |
NRS 116B.495. Rules of association. |
NRS 116B.500. Rules of hotel unit owner. |
NRS 116B.505. Limitation on power of hotel unit owner to impose sanctions for violations of rules; exception; procedural requirements. |
NRS 116B.510. Complaint alleging violation by hotel unit owner; acknowledgment; response. |
NRS 116B.515. Upkeep of condominium hotel. |
Meetings and Voting |
NRS 116B.535. Right of units’ owners to have certain complaints placed on agenda of meeting of executive board. |
NRS 116B.545. Quorum. |
NRS 116B.550. Voting by units’ owners; use of proxies; voting by lessees of leased units; association prohibited from voting as owner of unit. |
Liabilities, Insurance and Fiscal Affairs |
NRS 116B.555. Tort and contract liability. |
NRS 116B.560. Conveyance or encumbrance of common elements. |
NRS 116B.565. Insurance: General requirements. |
NRS 116B.570. Insurance: Policies. |
NRS 116B.575. Insurance: Repair or replacement of damaged or destroyed portion of condominium hotel. |
NRS 116B.580. Preparation and presentation of financial statements. |
NRS 116B.585. Audit and review of financial statements. |
NRS 116B.600. Annual distribution to units’ owners of operating and reserve budgets or summaries of such budgets; ratification of budget. |
NRS 116B.610. Study of reserves for shared components and hotel unit; duties of hotel unit owner regarding study; person who conducts study required to be registered; contents of study. |
NRS 116B.615. Signatures required for withdrawals from reserve account of association. |
NRS 116B.620. Fees imposed on associations to pay for costs of administering Office of Ombudsman and Commission; administrative penalties for failure to pay; interest on unpaid fees. |
NRS 116B.625. Registration of associations with Ombudsman. |
Liens |
NRS 116B.630. Liens against units for assessments. |
NRS 116B.640. Foreclosure of liens: Mailing of notice of default and election to sell to certain interested persons. |
NRS 116B.645. Foreclosure of liens: Providing notice of time and place of sale; service of notice of sale; contents of notice of sale; proof of service. |
NRS 116B.650. Foreclosure of liens: Procedure for conducting sale; purchase of unit by association or hotel unit owner; execution and delivery of deed; use of proceeds of sale. |
NRS 116B.655. Foreclosure of liens: Effect of recitals in deed; purchaser not responsible for proper application of purchase money; title vested in purchaser without equity or right of redemption. |
NRS 116B.665. Liens against association. |
Books, Records and Other Documents |
NRS 116B.675. Maintenance and availability of certain financial records of association; provision of copies to units’ owners and Ombudsman. |
NRS 116B.680. Maintenance and availability of financial records of association; right of units’ owners to inspect, examine, photocopy and audit records of association. |
NRS 116B.685. Maintenance, availability and review of certain financial books and records of hotel unit. |
Miscellaneous Rights, Duties and Restrictions |
NRS 116B.690. Retaliatory action prohibited. |
NRS 116B.695. Prohibition against certain personnel soliciting or accepting compensation, gratuity or remuneration under certain circumstances. |
NRS 116B.700. Prohibition against certain personnel contracting with association or accepting commission, personal profit or compensation from association; exceptions. |
NRS 116B.705. Association as trustee. |
NRS 116B.710. Right of units’ owners to display flag of the United States in certain areas; conditions and limitations on exercise of right. |
NRS 116B.715. Right of units’ owners to exhibit political signs in certain areas; conditions and limitations on exercise of right. |
NRS 116B.720. Association prohibited from requiring unit’s owner to obtain approval to rent or lease unit; exceptions. |
PROTECTION OF PURCHASERS |
NRS 116B.725. Applicability; exceptions. |
NRS 116B.730. Liability for preparation and delivery of public offering statement. |
NRS 116B.735. Public offering statement: General provisions. |
NRS 116B.740. Public offering statement: Condominium hotels subject to developmental rights. |
NRS 116B.745. Public offering statement: Condominium hotel containing converted building. |
NRS 116B.750. Public offering statement: Condominium hotel registered with Securities and Exchange Commission or State of Nevada. |
NRS 116B.755. Purchaser’s right to cancel. |
NRS 116B.760. Resales of units. |
NRS 116B.765. Required form of information statement. |
NRS 116B.770. Escrow of deposits; furnishing of bond in lieu of deposit. |
NRS 116B.775. Release of liens. |
NRS 116B.780. Exclusion or modification of warranties of quality. |
NRS 116B.785. Power of Commission to adopt regulations concerning additional disclosures. |
NRS 116B.790. Effect of violations on rights of action; civil action for damages for failure or refusal to comply with provisions of chapter or governing documents; attorney’s fees. |
NRS 116B.795. Substantial completion of units. |
ADMINISTRATION AND ENFORCEMENT OF CHAPTER |
General Provisions |
NRS 116B.800. Jurisdiction. |
NRS 116B.805. Administration of chapter; regulations of Commission and Real Estate Administrator; delegation of authority; publications. |
NRS 116B.810. Employment of personnel by Real Estate Division; duties of Attorney General; legal opinions by Attorney General. |
NRS 116B.815. Ombudsman for Owners in Common-Interest Communities and Condominium Hotels: Powers and duties. |
NRS 116B.820. Immunity. |
NRS 116B.825. Service of notice and other information upon Commission. |
NRS 116B.830. Authority for Real Estate Division to conduct business electronically; regulations; fees; use of unsworn declaration; exclusions. |
General Powers and Duties of Commission |
NRS 116B.835. Issuance and enforcement of subpoenas. |
NRS 116B.840. Witnesses: Payment of fees and mileage. |
NRS 116B.845. Conducting hearings and other proceedings; collection of information; development and promotion of educational guidelines; accreditation of programs of education and research. |
NRS 116B.855. Appointment of hearing panels; delegation of powers and duties; appeals to Commission. |
NRS 116B.860. Use of audio or video teleconference for hearings. |
Investigation of Violations; Remedial and Disciplinary Action |
NRS 116B.865. “Violation” defined. |
NRS 116B.870. Jurisdiction of Real Estate Division, Ombudsman, Commission and hearing panels. |
NRS 116B.875. Rights, remedies and penalties are cumulative and not exclusive; limitations on power of Commission and hearing panels regarding internal activities of association. |
NRS 116B.880. Confidentiality of records: Certain records relating to complaint or investigation deemed confidential; certain records relating to disciplinary action deemed public records. |
NRS 116B.885. Right of person aggrieved by alleged violation to file affidavit with Real Estate Division; procedure for filing affidavit; administrative fine for filing false or fraudulent affidavit. |
NRS 116B.895. Procedure for hearing complaints: Time for holding hearing; continuances; notices; evidence; answers; defaults. |
NRS 116B.900. Representation by attorney. |
NRS 116B.905. Decisions on complaints. |
NRS 116B.915. Remedial and disciplinary action: Audit of association; appointment of receiver. |
NRS 116B.920. Injunctions. |