Nevada Administrative Code › Chapter 119A - TIME SHARES › PROMOTIONAL MEETINGS AND PROMOTIONS › Section 119A.365 - Standards for sales techniques and tactics

Current through June 11, 2024
Sales techniques and tactics must conform
				  to the following standards:
1. Decoys
				  or false buyers must not be used in a promotional meeting for any
				  purpose.
2. Each oral statement
				  made to a prospective purchaser at a promotional meeting must be completely
				  consistent with written advertising.
3. Any prospective purchaser who expresses a
				  desire to leave a promotional meeting at any time during or after the sales
				  presentation may not be impeded in any manner from departing or coerced or
				  pressured to remain.
4.
				  Investigators and other employees of the Division must be allowed to attend any
				  promotional meeting.
5. Excessively
				  loud music must not be played during a promotional meeting, and it must be
				  turned off or down at the request of employees of the Division who are present
				  at the meeting.
6. Except for a
				  speaker making a speech from a podium, after a salesperson initially meets with
				  a prospective purchaser, the developer or project broker may allow only one
				  additional salesperson to attempt a sale.
7. If an employee of the Division is present
				  at a sales presentation, he or she must not be identified, singled out or asked
				  questions in such a way that a potential purchaser might hear the question or
				  the employee's remarks.
8. If a
				  project broker or developer at any time before, during or after a promotional
				  meeting uses any electronic surveillance, recording, eavesdropping or listening
				  device, he or she must disclose its use orally at the beginning of the meeting
				  and also by means of a placard prominently displayed in the meeting
				  room.
9. Each gift advertised must
				  be given to a prospective purchaser whether or not he or she purchases a time
				  share. The advertisement must disclose, in writing, any condition or
				  restriction of the offer of a gift.
10. The public offering statement and
				  exchange information, the sales contract and other documents which a
				  prospective purchaser would be signing if a purchase were consummated must be
				  reviewed by the sales agent, salesperson, broker-salesperson or project broker
				  with the prospective purchaser.
11.
				  Upon the request of a prospective purchaser, he or she must be allowed time to
				  discuss the documents with another person, review the documents and, if he or
				  she so desires, consult an attorney before signing any document.
12. Before signing an offer to purchase, a
				  prospective purchaser must be informed of his or her unconditional right to
				  rescind the sales contract.
13. The
				  Division may not be mentioned in such a manner as to suggest that the Division
				  has approved a time-share plan or the documents or sales techniques of the
				  time-share plan.
14. No false or
				  misleading statements may be made regarding the future economic success, any
				  recreational facilities or the location of any project within the time-share
				  plan.
Added to NAC by Real Estate Div.,
				  eff. 12-3-84; A 5-2-86; A by
				  R130-16A,
				  eff. 11/13/2017; A
				  by
				  R130-16AP,
				  eff. 8/30/2018
NRS 119A.190