reglab/statecodes huggingface dataset:
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.540 - Meetings regarding civil actions; requirements for commencing or ratifying certain civil actions; right of units’ owners to request dismissal of certain civil actions; disclosure of terms and conditions of settlements.

1. The association shall provide written notice to each unit’s owner of a meeting at which the commencement of a civil action is to be considered at least 21 calendar days before the date of the meeting. Except as otherwise provided in this subsection, the association may commence a civil action only upon a vote or written agreement of the owners of units to which at least a majority of the votes of the members of the association are allocated. The provisions of this subsection do not apply to a civil action that is commenced:
(a) To enforce the payment of an assessment;
(b) To enforce the declaration, bylaws or rules of the association;
(c) To enforce a contract with a vendor;
(d) To proceed with a counterclaim; or
(e) To protect the health, safety and welfare of the members of the association. If a civil action is commenced pursuant to this paragraph without the required vote or agreement, the action must be ratified within 90 days after the commencement of the action by a vote or written agreement of the owners of the units to which at least a majority of votes of the members of the association are allocated. If the association, after making a good faith effort, cannot obtain the required vote or agreement to commence or ratify such a civil action, the association may thereafter seek to dismiss the action without prejudice for that reason only if a vote of written agreement of the owners of the units to which at least a majority of votes of the members of the association are allocated was obtained at the time the approval to commence or ratify the action was sought.
2. At least 10 days before an association commences or seeks to ratify the commencement of a civil action, the association shall provide a written statement to all the units’ owners that includes:
(a) A reasonable estimate of the costs of the civil action, including reasonable attorney’s fees;
(b) An explanation of the potential benefits of the civil action and the potential adverse consequences if the association does not commence the action or if the outcome of the action is not favorable to the association; and
(c) All disclosures that are required to be made upon the sale of the property.
3. No person other than a unit’s owner may request the dismissal of a civil action commenced by the association on the ground that the association failed to comply with any provision of this section.
4. If any civil action in which the association is a party is settled, the executive board shall disclose the terms and conditions of the settlement at the next regularly scheduled meeting of the executive board after the settlement has been reached. The executive board may not approve a settlement which contains any terms and conditions that would prevent the executive board from complying with the provisions of this subsection.
(Added to NRS by 2007, 2229)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.545 - Quorum; use of Robert’s Rules of Order Newly Revised.

1. Except as otherwise provided in this section and NRS 116B.445, and except when the governing documents provide otherwise, a quorum is present throughout any meeting of the units’ owners if persons entitled to cast 20 percent of the votes in the association:
(a) Are present in person;
(b) Are present by proxy;
(c) Have cast absentee ballots in accordance with paragraph (d) of subsection 2 of NRS 116B.550; or
(d) Are present by any combination of paragraphs (a), (b) and (c).
2. If the governing documents of an association contain a quorum requirement for a meeting of the association that is greater than the 20 percent required by subsection 1 and, after proper notice has been given for a meeting, the members of the association who are present in person or by proxy at the meeting are unable to hold the meeting because a quorum is not present at the beginning of the meeting, the members who are present in person at the meeting may adjourn the meeting to a time that is not less than 48 hours or more than 30 days after the date of the meeting. At the subsequent meeting:
(a) A quorum shall be deemed to be present if the number of members of the association who are present in person or by proxy at the beginning of the subsequent meeting equals or exceeds 20 percent of the total number of voting members of the association; and
(b) If such a quorum is deemed to be present but the actual number of members who are present in person or by proxy at the beginning of the subsequent meeting is less than the number of members who are required for a quorum under the governing documents, the members who are present in person or by proxy at the subsequent meeting may take action only on those matters that were included as items on the agenda of the original meeting.
The provisions of this subsection do not change the actual number of votes that are required under the governing documents for taking action on any particular matter.
3. Unless the governing documents specify a larger number, a quorum of the executive board is present for the purposes of determining the validity of any action taken at a meeting of the executive board only if individuals entitled to cast a majority of the votes on that board are present at the time a vote regarding that action is taken. If a quorum is present when a vote is taken, the affirmative vote of a majority of the members present is the act of the executive board unless a greater vote is required by the declaration or bylaws.
4. Meetings of the association must be conducted in accordance with the most recent edition of
Robert’s Rules of Order Newly Revised
, unless the bylaws or a resolution of the executive board adopted before the meeting provide otherwise.
(Added to NRS by 2007, 2230; A 2015, 1233)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.555 - Tort and contract liability.

1. A unit’s owner is not liable, solely by reason of being a unit’s owner, for an injury or damage arising out of the condition or use of the common elements. Neither the association nor any unit’s owner except the declarant or hotel unit owner, as applicable, is liable for that declarant’s or hotel unit owner’s torts in connection with any part of the condominium hotel which that declarant or hotel unit owner, as applicable, owns or has the responsibility to maintain.
2. An action alleging a wrong done by the association, including, without limitation, an action arising out of the condition or use of the common elements, may be maintained only against the association and not against any unit’s owner. If the wrong occurred during any period of declarant’s control over the association and the association gives the declarant reasonable notice of and an opportunity to defend against the action, the declarant who then controlled the association is liable to the association or to any unit’s owner for all tort losses not covered by insurance suffered by the association or that unit’s owner, and all costs that the association would not have incurred but for a breach of contract or other wrongful act or omission. Whenever the declarant is liable to the association under this section, the declarant is also liable for all expenses of litigation, including reasonable attorney’s fees, incurred by the association.
3. Any statute of limitation affecting the association’s right of action under this section is tolled until the period of declarant’s control terminates. A unit’s owner is not precluded from maintaining an action contemplated by this section because he or she is a unit’s owner or a member or officer of the association. Liens resulting from judgments against the association are governed by NRS 116B.665.
(Added to NRS by 2007, 2231; A 2015, 1236)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.560 - Conveyance or encumbrance of common elements.

1. Portions of the common elements of a condominium hotel may be conveyed or subjected to a security interest by the association if persons entitled to cast at least a majority of the votes in the association or any larger percentage otherwise specified in the declaration agree to such action. All owners of units to which any limited common element is allocated must agree in order to convey that limited common element or subject it to a security interest. Proceeds of the sale are an asset of the association.
2. An agreement to convey or subject common elements in a condominium hotel to a security interest must be evidenced by the execution of an agreement, or ratifications thereof, in the same manner as a deed, by the requisite number of units’ owners. The agreement must specify a date after which the agreement will be void unless recorded before that date. The agreement and all ratifications thereof must be recorded in every county in which a portion of the condominium hotel is situated, and is effective only upon recordation.
3. The association, on behalf of the units’ owners, may contract to convey an interest in the common elements pursuant to subsection 1, but the contract is not enforceable against the association until approved pursuant to subsections 1 and 2. Upon approval, the association has all powers necessary and appropriate to effect the conveyance or encumbrance, including the power to execute deeds or other instruments.
4. Unless made pursuant to this section, any purported conveyance, encumbrance, judicial sale or other voluntary transfer of common elements is void.
5. A conveyance or encumbrance of common elements pursuant to this section does not deprive any unit of its rights of access and support.
6. Unless the declaration otherwise provides, a conveyance or encumbrance of common elements pursuant to this section does not affect the priority or validity of preexisting encumbrances.
(Added to NRS by 2007, 2232)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.565 - Insurance: General requirements.

1. Commencing not later than the time of the first conveyance of a unit to a person other than a declarant, and unless the declaration states otherwise, the association shall maintain, to the extent reasonably available and subject to reasonable deductibles:
(a) Property insurance on the common elements insuring against all risks of direct physical loss commonly insured against in an amount specified in the declaration.
(b) Commercial general liability insurance on the common elements, including insurance for medical payments, in an amount determined by the executive board but not less than any amount specified in the declaration, covering all occurrences commonly insured against for death, bodily injury and property damage arising out of or in connection with the use, ownership, or maintenance of the common elements.
(c) Crime insurance which includes coverage for dishonest acts by members of the executive board and the officers, employees, agents, directors and volunteers of the association and which extends coverage to any business entity that acts as the community manager of the association and the employees of that entity. Such insurance may not contain a conviction requirement, and the minimum amount of the policy must be not less than an amount equal to 3 months of aggregate assessments on all units plus reserve funds or $5,000,000, whichever is less.
2. Commencing not later than the time of the first conveyance of a residential unit to a person other than the declarant, and unless the declaration states otherwise, the hotel unit owner shall maintain, to the extent reasonably available, the following:
(a) Property and casualty insurance on the residential units, hotel unit and shared components insuring against all risks of direct physical loss commonly insured against in an amount specified in the declaration. An insurance policy issued to the hotel unit owner does not prevent a unit’s owner from obtaining insurance for his or her own benefit.
(b) Liability insurance on the residential units, hotel unit and shared components, including insurance for medical payments, in an amount set forth in the declaration, covering all occurrences commonly insured against for death, bodily injury and property damage arising out of or in connection with the use, ownership, or maintenance of the residential units, shared components or the hotel unit.
(Added to NRS by 2007, 2232; A 2015, 1236)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.570 - Insurance: Policies.

Insurance policies carried pursuant to this chapter must provide to the extent reasonably available that:
1. Each unit’s owner is an insured person under the policy with respect to liability arising out of his or her interest in the common elements or membership in the association;
2. The insurer waives its right to subrogation under the policy against any unit’s owner or member of his or her household;
3. No act or omission by any unit’s owner, unless acting within the scope of his or her authority on behalf of the association, voids the policy or is a condition to recovery under the policy; and
4. If, at the time of a loss under the policy, there is other insurance in the name of a unit’s owner covering the same risk covered by the policy, the association’s policy or the hotel unit owners’ policy, as applicable, provides primary insurance.
(Added to NRS by 2007, 2233; A 2015, 1237)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.575 - Insurance: Repair or replacement of damaged or destroyed portion of condominium hotel.

1. Unless the declaration states otherwise, with respect to repair or replacement of all or any portion of the condominium hotel after fire or other casualty, any portion of the condominium hotel for which insurance is required under NRS 116B.565 which is damaged or destroyed must be repaired or replaced promptly by the association or the hotel unit owner unless:
(a) The condominium hotel is terminated pursuant to the provisions of this chapter;
(b) Repair or replacement would be illegal under any state or local statute or ordinance governing health or safety; or
(c) The declarant or hotel unit owner, as applicable, and the residential unit owners representing at least 80 percent of the total voting power in the association vote that the damaged or destroyed portion of the condominium hotel not be rebuilt.
2. If a determination is made to effect repair or restoration of the damaged or destroyed portion of the condominium hotel, the insurance proceeds of all insurance policies required to be maintained under NRS 116B.565 that are attributable to the damaged or destroyed portion of the condominium hotel must be disbursed to the contractors engaged in such repair or restoration in appropriate installment payments, and any proceeds that are in excess of the amounts reasonably necessary to effect repair or restoration must be disbursed:
(a) As to the residential units or common elements, to the units’ owners in proportion to their assessments for common expenses.
(b) As to any portion of the shared components or the hotel unit, to the hotel unit owner.
3. If a determination is made not to effect repair or restoration of the damaged portion of the condominium hotel:
(a) The insurance proceeds attributable to units, shared components or common elements that are not rebuilt must be distributed to the owners of those units and the owners of the units to which those limited common elements were allocated, or to lienholders, as their interests may appear; and
(b) The remainder of the proceeds must be distributed:
(1) As to the residential units or common elements, to the units’ owners in proportion to their assessments for common expenses.
(2) As to any portion of the shared components or the hotel unit, to the hotel unit owner.
(Added to NRS by 2007, 2233)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.577 - 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 financial institution which:
(a) Is located in this State;
(b) Is qualified to conduct business in this State; or
(c) Has consented to be subject to the jurisdiction, including the power to subpoena, of the courts of this State and the Division.
2. Except as otherwise provided by the governing documents, in addition to the requirements of subsection 1, an association shall deposit, maintain and invest all funds of the association:
(a) In a financial institution whose accounts are insured by the Federal Deposit Insurance Corporation, the National Credit Union Share Insurance Fund or the Securities Investor Protection Corporation;
(b) With a private insurer approved pursuant to NRS 672.755; or
(c) In a government security backed by the full faith and credit of the Government of the United States.
3. The Commission shall adopt regulations prescribing the contents of the declaration to be executed and signed by a financial institution located outside of this State to submit to consent to the jurisdiction of the courts of this State and the Division.
(Added to NRS by 2015, 1216)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.580 - 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 Commission must include, without limitation:
(a) The qualifications necessary for a person to prepare and present financial statements of an association; and
(b) The standards and format to be followed in preparing and presenting financial statements of an association.
(Added to NRS by 2007, 2234)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.585 - 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 less than $75,000, cause the financial statement of the association to be audited by an independent certified public accountant at least once every 4 fiscal years.
(b) If the annual budget of the association is $75,000 or more but less than $150,000, cause the financial statement of the association to be:
(1) Audited by an independent certified public accountant at least once every 4 fiscal years; and
(2) Reviewed by an independent certified public accountant every fiscal year for which an audit is not conducted.
(c) If the annual budget of the association is $150,000 or more, cause the financial statement of the association to be audited by an independent certified public accountant every fiscal year.
2. For any fiscal year for which an audit of the financial statement of the association will not be conducted pursuant to subsection 1, the executive board shall cause the financial statement for that fiscal year to be audited by an independent certified public accountant if, within 180 days before the end of the fiscal year, 15 percent of the total number of voting members of the association submit a written request for such an audit.
3. The Commission shall adopt regulations prescribing the requirements for the auditing or reviewing of financial statements of an association pursuant to this section. Such regulations must include, without limitation:
(a) The qualifications necessary for a person to audit or review financial statements of an association; and
(b) The standards and format to be followed in auditing or reviewing financial statements of an association.
(Added to NRS by 2007, 2234)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.605 - Study of reserves for common elements; duties of executive board regarding study; person who conducts study required to be registered; contents of study; submission of summary of study to Division.

1. The executive board shall:
(a) At least once every 5 years, cause to be conducted a study of the reserves required to repair, replace and restore the major components of the common elements;
(b) At least annually, review the results of that study to determine whether those reserves are sufficient; and
(c) At least annually, make any adjustments to the association’s funding plan which the executive board deems necessary to provide adequate funding for the required reserves.
2. The study of the reserves required by subsection 1 must be conducted by a person who is registered with the Division pursuant to chapter 116A of NRS.
3. The study of the reserves must include, without limitation:
(a) A summary of an inspection of the major components of the common elements that the association is obligated to repair, replace or restore;
(b) An identification of the major components of the common elements that the association is obligated to repair, replace or restore which have a remaining useful life of less than 30 years;
(c) An estimate of the remaining useful life of each major component of the common elements identified pursuant to paragraph (b);
(d) An estimate of the cost of repair, replacement or restoration of each major component of the common elements identified pursuant to paragraph (b) during and at the end of its useful life; and
(e) An estimate of the total annual assessment that may be necessary to cover the cost of repair, replacement or restoration of the major components of the common elements identified pursuant to paragraph (b), after subtracting the reserves of the association as of the date of the study, and an estimate of the funding plan that may be necessary to provide adequate funding for the required reserves.
4. A summary of the study of the reserves required by subsection 1 must be submitted to the Division not later than 45 days after the date that the executive board adopts the results of the study.
(Added to NRS by 2007, 2237)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › 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.

1. The hotel unit owner shall:
(a) At least once every 5 years, cause to be conducted a study of the reserves required to repair, replace and restore the major components of the shared components and the major components of the hotel unit;
(b) At least annually, review the results of that study to determine whether those reserves are sufficient; and
(c) At least annually, make any adjustments to the charges deemed necessary to provide adequate funding for the required reserves.
2. The study of the reserves required by subsection 1 must be conducted by a person who is registered with the Division pursuant to chapter 116A of NRS.
3. The study of the reserves must include, without limitation:
(a) A summary of an inspection of the major components of the shared components and the major components of the hotel unit;
(b) An identification of the major components of the shared components and the major components of the hotel unit that have a remaining useful life of less than 30 years;
(c) An estimate of the remaining useful life of each major component of the shared components and each major component of the hotel unit identified pursuant to paragraph (b);
(d) An estimate of the cost of repair, replacement or restoration of each major component of the shared components and each major component of the hotel unit identified pursuant to paragraph (b) during and at the end of its useful life; and
(e) An estimate of the total annual charge that may be necessary to cover the cost of repairing, replacement or restoration of the major components of the shared components and the major components of the hotel unit identified pursuant to paragraph (b), after subtracting the reserves for shared components and the hotel unit as of the date of the study, and an estimate of the funding plan that may be necessary to provide adequate funding for the required reserves.
(Added to NRS by 2007, 2238)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.615 - Signatures required for withdrawals from reserve account of association; exceptions.

1. Money in the reserve account of an association required by NRS 116B.590 may not be withdrawn without the signatures of at least two members of the executive board or the signatures of at least one member of the executive board and one officer of the association who is not a member of the executive board.
2. Except as otherwise provided in subsection 3, money in the operating account of an association may not be withdrawn without the signatures of at least one member of the executive board or one officer of the association and a member of the executive board, an officer of the association or the community manager.
3. Money in the operating account of an association may be withdrawn without the signatures required pursuant to subsection 2 to:
(a) Transfer money to the reserve account of the association at regular intervals;
(b) Make automatic payments for utilities;
(c) Make automatic payments for the cost of any insurance policies maintained pursuant to NRS 116.3113;
(d) Make automatic payments for telecommunications services maintained by the association, including, without limitation, telephone, cable, satellite and Internet services;
(e) Make automatic payments for any services to the association that are billed on a monthly, quarterly or annual basis;
(f) Make annual payments to the Office of the Ombudsman;
(g) Make an electronic transfer of money to a state agency pursuant to NRS 353.1467; or
(h) Make an electronic transfer of money to the United States Government, or any agency thereof, pursuant to any federal law requiring transfers of money to be made by an electronic means authorized by the United States Government or the agency thereof.
4. An association may use electronic signatures to withdraw money in the operating account of the association if:
(a) The electronic transfer of money is made pursuant to a written agreement entered into between the association and the financial institution where the operating account of the association is maintained;
(b) The executive board has expressly authorized the electronic transfer of money; and
(c) The association has established internal accounting controls which comply with generally accepted accounting principles to safeguard the assets of the association.
5. As used in this section, "electronic transfer of money" has the meaning ascribed to it in NRS 353.1467.
(Added to NRS by 2007, 2239; A 2023, 979)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › 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.

1. Except as otherwise provided in subsection 2, an association shall:
(a) If the association is required to pay the fee imposed by NRS 78.150, 82.193, 86.263, 87.541, 87A.560 or 88.591, pay to the Administrator a fee established by regulation of the Administrator for every unit in the association used for residential use.
(b) If the association is organized as a trust or partnership, or as any other authorized business entity, pay to the Administrator a fee established by regulation of the Administrator for each unit in the association.
2. The fees required to be paid pursuant to this section must be:
(a) Paid at such times as are established by the Division.
(b) Deposited with the State Treasurer for credit to the Account for Common-Interest Communities and Condominium Hotels created by NRS 116.630.
(c) Established on the basis of the actual costs of administering the Office of the Ombudsman and the Commission and not on a basis which includes any subsidy beyond those actual costs. In no event may the fees required to be paid pursuant to this section exceed $3 per unit.
3. The Division shall impose an administrative penalty against an association that violates the provisions of this section by failing to pay the fees owed by the association within the times established by the Division. The administrative penalty that is imposed for each violation must equal 10 percent of the amount of the fees owed by the association or $500, whichever amount is less. The amount of the unpaid fees owed by the association bears interest at the rate set forth in NRS 99.040 from the date the fees are due until the date the fees are paid in full.
4. Upon the payment of the fees and any administrative penalties and interest required by this section, the Administrator shall provide to the association evidence that it paid the fees and the administrative penalties and interest in compliance with this section.
(Added to NRS by 2007, 2239)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.640 - Foreclosure of liens: Mailing of notice of default and election to sell to certain interested persons.

The association or hotel unit owner, as applicable, shall also mail, within 10 days after the notice of default and election to sell is recorded, a copy of the notice by first-class mail to:
1. Each person who has requested notice pursuant to NRS 107.090 or 116B.660;
2. Any holder of a recorded security interest encumbering the residential unit owner’s interest who has notified the association or hotel unit owner, as applicable, 30 days before the recordation of the notice of default, of the existence of the security interest; and
3. A purchaser of the residential unit, if the residential unit owner has notified the association or hotel unit owner, as applicable, 30 days before the recordation of the notice, that the residential unit is the subject of a contract of sale and the association has been requested to furnish the certificate required by NRS 116B.760.
(Added to NRS by 2007, 2241)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › 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.

1. The sale must be conducted in the county in which the condominium hotel or part of it is situated, and may be conducted by the association or hotel unit owner, as applicable, its agent or attorney, or a title insurance company or escrow agent licensed to do business in this State, except that the sale may be made at the office of the association or hotel unit owner, as applicable, if the notice of the sale so provided. The association or hotel unit owner, as applicable, may, from time to time, postpone the sale by such advertisement and notice as it considers reasonable or, without further advertisement or notice, by proclamation made to the persons assembled at the time and place previously set and advertised for the sale.
2. On the day of sale originally advertised or to which the sale is postponed, at the time and place specified in the notice or postponement, the person conducting the sale may sell the residential unit at public auction to the highest cash bidder. Unless otherwise provided in the declaration or by agreement, the association or hotel unit owner may purchase the residential unit and hold, lease, mortgage or convey it. The association or hotel unit owner, as applicable, may purchase by a credit bid up to the amount of the unpaid assessments and any permitted costs, fees and expenses incident to the enforcement of its lien.
3. After the sale, the person conducting the sale shall:
(a) Make, execute and, after payment is made, deliver to the purchaser, or his or her successor or assign, a deed without warranty which conveys to the grantee all title of the residential unit owner to the unit;
(b) Deliver a copy of the deed to the Ombudsman within 30 days after the deed is delivered to the purchaser, or his or her successor or assign; and
(c) Apply the proceeds of the sale for the following purposes in the following order:
(1) The reasonable expenses of sale;
(2) The reasonable expenses of securing possession before sale, holding, maintaining, and preparing the residential unit for sale, including payment of taxes and other governmental charges, premiums on hazard and liability insurance, and, to the extent provided for by the declaration, reasonable attorney’s fees and other legal expenses incurred by the association or the hotel unit owner, as applicable;
(3) Satisfaction of the association’s or hotel unit owner’s lien, as applicable;
(4) Satisfaction in the order of priority of any subordinate claim of record; and
(5) Remittance of any excess to the unit’s owner.
(Added to NRS by 2007, 2242)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › 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.

1. The recitals in a deed of a foreclosed unit made pursuant to NRS 116B.650 of:
(a) Default, the mailing of the notice of delinquent assessment or charge, and the recording of the notice of default and election to sell;
(b) The elapsing of the 90 days; and
(c) The giving of notice of sale,
are conclusive proof of the matters recited.
2. Such a deed containing those recitals is conclusive against the residential unit’s former owner, his or her heirs and assigns, and all other persons. The receipt for the purchase money contained in such a deed is sufficient to discharge the purchaser from obligation to see to the proper application of the purchase money.
3. The sale of a residential unit pursuant to the foreclosure procedures of this chapter vests in the purchaser the title of the unit’s owner without equity or right of redemption.
(Added to NRS by 2007, 2243)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.660 - Foreclosure of liens: Requests by interested persons for notice of default and election to sell; right of association or hotel unit owner to waive default and withdraw notice or proceeding to foreclose.

1. The provisions of NRS 107.090 apply to the foreclosure of lien of an association or hotel unit owner, as applicable, as if a deed of trust were being foreclosed. The request must identify the lien by stating the names of the unit’s owner and the condominium hotel.
2. An association or hotel unit owner, as applicable, may, after recording a notice of default and election to sell, waive the default and withdraw the notice or any proceeding to foreclose. The association or hotel unit owner, as applicable, is thereupon restored to its former position and has the same rights as though the notice had not been recorded.
(Added to NRS by 2007, 2243)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.665 - Liens against association.

1. Except as otherwise provided in subsection 2, 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 common elements, but is a lien in favor of the judgment lienholder against all of the other real property of the association and all of the units in the condominium hotel at the time the judgment was entered. No other property of a unit’s owner or the declarant is subject to the claims of creditors of the association.
2. If the association has granted a security interest in the common elements to a creditor of the association pursuant to NRS 116B.560, the holder of that security interest shall exercise its right against the common elements before its judgment lien on any unit may be enforced.
3. Whether perfected before or after the creation of the condominium hotel, if a lien, other than a deed of trust or mortgage, including a judgment lien or lien attributable to work performed or materials supplied before creation of the condominium hotel, becomes effective against two or more units, the owner of an affected unit may pay to the lienholder the amount of the lien attributable to his or her unit, and the lienholder, upon receipt of payment, promptly shall deliver a release of the lien covering that unit. The amount of the payment must be proportionate to the ratio which that owner’s liability for common expenses bears to the liabilities for common expenses of all owners whose units are subject to the lien. After payment, the association may not assess or have a lien against that owner’s unit for any portion of the common expenses incurred in connection with that lien.
4. A judgment against the association must be indexed in the name of the condominium hotel and the association and, when so indexed, is notice of the lien against the units.
(Added to NRS by 2007, 2244; A 2015, 1242)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.675 - Maintenance and availability of certain financial records of association; provision of copies to units’ owners and Ombudsman.

1. The executive board of an association shall maintain and make available for review at the business office of the association or some other suitable location within the county where the condominium hotel is situated or, if it is situated in more than one county, within one of those counties:
(a) The financial statement of the association;
(b) The budgets of the association required to be prepared pursuant to NRS 116B.590; and
(c) The study of the reserves of the association required to be conducted pursuant to NRS 116B.605.
2. The executive board shall provide a copy of any of the records required to be maintained pursuant to subsection 1 to a unit’s owner or the Ombudsman within 14 days after receiving a written request therefor. The executive board may charge a fee to cover the actual costs of preparing a copy, but not to exceed 25 cents per page.
(Added to NRS by 2007, 2245)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.680 - Maintenance and availability of financial records of association; right of units’ owners to inspect, examine, photocopy and audit records of association.

1. The association shall keep financial records sufficiently detailed to enable the association to comply with all of the requirements of this chapter.
2. All financial and other records of the association must be:
(a) Maintained and made available for review at the business office of the association or some other suitable location within the county where the condominium hotel is situated or, if it is situated in more than one county, within one of those counties; and
(b) Made reasonably available for any unit’s owner and his or her authorized agents to inspect, examine, photocopy and audit.
(Added to NRS by 2007, 2245)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.685 - Maintenance, availability and review of certain financial books and records of hotel unit.

The hotel unit owner shall maintain financial books and records showing its actual receipts and expenditures with respect to the repair, replacement, improvement, maintenance, management, operation, tax obligations and insurance of the shared components, the major components of the shared components and the major components of the hotel unit, including the budget for the current year, any proposed budget for future years and the study of reserves required by NRS 116B.610. These records must be audited or reviewed by a certified public accountant. The hotel unit owner shall make these records available for inspection by any residential unit owner by prior appointment during reasonable business hours. These records must be retained for 3 years after the conclusion of each fiscal year.
(Added to NRS by 2007, 2245)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.690 - Retaliatory action prohibited.

A hotel unit owner, an executive board, a member of an executive board or an officer, employee or agent of an association shall not take, or direct or encourage another person to take, any retaliatory action against a unit’s owner because the unit’s owner has:
1. Complained in good faith about any alleged violation of any provision of this chapter or the governing documents of the association; or
2. Requested in good faith to review the books, records or other papers of the association.
(Added to NRS by 2007, 2246)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.700 - 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, an officer of an association or a community manager shall not:
(a) Enter into a contract or renew a contract with the association to provide goods or services to the association; or
(b) Otherwise accept any commission, personal profit or compensation of any kind from the association for providing goods or services to the association.
2. The provisions of this section do not prohibit a declarant, an affiliate of a declarant or an officer, employee or agent of a declarant or an affiliate of a declarant from:
(a) Receiving any commission, personal profit or compensation from the association, the declarant or an affiliate of the declarant for any goods or services furnished to the association;
(b) Entering into contracts with the association, the declarant or affiliate of the declarant; or
(c) Serving as a member of the executive board or as an officer of the association.
(Added to NRS by 2007, 2247)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.705 - 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 inquire whether the association has power to act as trustee or is properly exercising trust powers. A third person, without actual knowledge that the association is exceeding or improperly exercising its powers, is fully protected in dealing with the association as if it possessed and properly exercised the powers it purports to exercise. A third person is not bound to assure the proper application of trust assets paid or delivered to the association in its capacity as trustee.
(Added to NRS by 2007, 2247)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.710 - Right of units’ owners to display flag of the United States 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 documents of that association must not prohibit a unit’s owner from engaging in the display of the flag of the United States within such physical portion of the condominium hotel as that owner has a right to occupy and use exclusively.
2. The provisions of this section do not:
(a) Apply to the display of the flag of the United States for commercial advertising purposes.
(b) Preclude the hotel unit owner or an association from adopting, and do not preclude the governing documents of an association from setting forth, rules that reasonably restrict the placement and manner of the display of the flag of the United States by a unit’s owner.
(c) Preclude the hotel unit owner or an association from adopting, and do not preclude the declaration of the governing documents of an association from setting forth, rules restricting or prohibiting the placement by any person of other signs, symbols or flags within any portion of the condominium hotel.
3. In any action commenced to enforce the provisions of this section, the prevailing party is entitled to recover reasonable attorney’s fees and costs.
4. As used in this section, "display of the flag of the United States" means a flag of the United States that is:
(a) Made of cloth, fabric or paper;
(b) Displayed from a pole or staff or in a window; and
(c) Displayed in a manner that is consistent with 4 U.S.C. Chapter 1.
The term does not include a depiction or emblem of the flag of the United States that is made of balloons, flora, lights, paint, paving materials, roofing, siding or any other similar building, decorative or landscaping component.
(Added to NRS by 2007, 2247)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.715 - 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 a political sign within such physical portion of the condominium hotel as that owner or occupant has a right to occupy and use exclusively if the political sign is not larger than 24 inches by 36 inches.
2. The provisions of this section establish the minimum rights of a unit’s owner or an occupant of a unit to exhibit a political sign. The provisions of this section do not preempt any provisions of the governing documents that provide greater rights and do not require the governing documents or the executive board to impose any restrictions on the exhibition of political signs other than those established by other provisions of law.
3. As used in this section, "political sign" means a sign that expresses support for or opposition to a candidate, political party or ballot question.
(Added to NRS by 2007, 2248)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.720 - Association prohibited from requiring unit’s owner to obtain approval to rent or lease unit; exceptions.

1. Except as otherwise provided in the declaration, an association may not require a unit’s owner to secure or obtain any approval from the association in order to rent or lease his or her unit.
2. The provisions of this section do not prohibit an association from enforcing any provisions which govern the renting or leasing of units and which are contained in this chapter or in any other applicable federal, state or local laws or regulations.
(Added to NRS by 2007, 2248)
2023 Nevada Revised Statutes › Chapter 116B - Condominium Hotel Act › NRS 116B.725 - Applicability; exceptions.

1. Except as otherwise provided in subsection 2, NRS 116B.725 to 116B.795, inclusive, apply to all condominium hotels.
2. Neither a public offering statement nor a certificate of resale need be prepared or delivered in the case of a:
(a) Gratuitous disposition of a unit;
(b) Disposition pursuant to court order;
(c) Disposition by a government or governmental agency;
(d) Disposition by foreclosure or deed in lieu of foreclosure;
(e) Disposition to a dealer;
(f) Disposition that may be cancelled at any time and for any reason by the purchaser without penalty; or
(g) Disposition of a unit not used for residential use.
(Added to NRS by 2007, 2248; A 2015, 1243)