reglab/statecodes huggingface dataset:
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › ADVERTISING › Section 119.405 - Fees

Current through June 11, 2024
1. Each item of advertising or modification to an item of advertising which was previously approved constitutes a separate application for approval, and a fee will be assessed for each item submitted.
2. Fees may be paid in cash or by cashier's check, certified check, personal check, company check or money order. If payment of a fee is made by personal or company check, the Division will not render a decision on the application until the check has been honored by the drawee bank.
3. The following is the schedule of fees for applications for approval of advertising:
(a) For each item of advertising, $5 per page to a maximum of $25. If an item contains advertising matter on both sides of a page, the item is considered to be two pages in length.
(b) For a television or motion picture presentation, $25. If a script is submitted simultaneously with the television tape or motion picture film, there is no extra charge.
The developer is responsible for the arrangements and the cost of making such advertising available for review by the Division.
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › ADVERTISING › Section 119.407 - Oral statements

Current through June 11, 2024
Any oral statement made to a prospective purchaser at a promotional meeting or on an individual basis must comply with the standards for advertising set forth in NAC 119.410, 119.415 and 119.460 and subsection 1 of NAC 119.465.
Added to NAC by Real Estate Div., eff. 5-2-86
NRS 119.184, 119.240
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › ADVERTISING › Section 119.410 - Standards: Accuracy; facts; inferences

Current through June 11, 2024
1. Advertising must conform to the following standards:
(a) Statements and representations contained in the advertising must be accurate and true.
(b) Advertising must fully state factual material so as not to misrepresent the facts or create misleading impressions.
(c) All advertising must be consistent with the information contained in the property report filed with the Division.
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › ADVERTISING › Section 119.415 - Price; predevelopment sales; discount; future price; increase in value

Current through June 11, 2024
1. Advertising which refers to the purchase price of any lot, parcel, unit or interest must also clearly disclose any additional compulsory assessments or costs to the prospective purchaser.
2. Advertising which refers to predevelopment sales being at a lower price, because the property has not yet been developed in some manner, must disclose whether there is a bona fide plan for development, and, if there is such a plan, the prospective completion date must be stated.
3. Advertising may offer a discount which effects a reduction of the advertised price only if the discount is offered for a purchase in quantity, payment in cash, large or accelerated payment or on other reasonable grounds. The purpose of this standard is to eliminate the use of fictitious pricing and illusory discounts.
4. Advertising must not contain statements concerning future price increases by the developer which are not specific as to the amount and the date of the increase, and a future price increase may not be alluded to unless it is bona fide.
5. Advertising must not state that land or unit values have increased in the subdivision or the area unless the land or unit used for comparison is directly comparable to the property being advertised for sale.
Dep't of Commerce, Real Estate Div., § 44, eff. 7-16-80
NRS 119.184, 119.240
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › ADVERTISING › Section 119.420 - Easements; improvements; promised improvements and assessments; taxes

Current through June 11, 2024
1. Advertising which states the size of a parcel or parcels offered must also disclose any easement to which any parcel is subject and the nature of the easement. If an easement has a significant effect on the use of a parcel, each map, plat or other representation of the parcel must show the extent to which the use of the advertised parcel is affected by the easement.
2. No improvement, facility or utility service may be advertised unless it has been completed or installed and is available for use, or completion and availability for use is assured through adequate financial arrangements approved by the Division, including a contractual obligation of the developer to the purchaser.
3. Advertising which refers to promised improvements for which the prospective purchaser will be assessed must clearly and fully disclose the assessments.
4. Advertising which contains statements regarding taxes and their amount must state the latest available information.
Dep't of Commerce, Real Estate Div., § 45, eff. 7-16-80
NRS 119.184, 119.240
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › ADVERTISING › Section 119.425 - Mineral rights; flooding; landlocked parcels

Current through June 11, 2024
1. Advertising which refers to oil, gas or mineral rights must disclose all material facts pertaining to those rights in conjunction with each reference to them.
2. If the property or any portion of the property being offered for sale is regularly or periodically flooded or substantially covered by standing water, or may be flooded in whole or in part through the action of a governmental body, the advertising must clearly and prominently so disclose.
3. Advertising which offers for sale any land without a legal right of access to it must clearly and fully disclose that fact and its legal effect.
Dep't of Commerce, Real Estate Div., § 46, eff. 7-16-80
NRS 119.184, 119.240
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › ADVERTISING › Section 119.430 - Distances and mileage

Current through June 11, 2024
Advertising which refers to a community or geographical area in connection with a subdivision must state the mileage from a specific point in the subdivision in road miles to a specific point in that community or area, together with the types of roads traversed.
Dep't of Commerce, Real Estate Div., § 47, eff. 7-16-80
NRS 119.184, 119.240
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › ADVERTISING › Section 119.435 - Use or potential use of property; future subdividing

Current through June 11, 2024
1. Advertising must not imply a use of a subdivision lot, parcel, unit or interest or other reason for its purchase which is not set forth in the Nevada statement of record.
2. Advertising which contains statements, photographs or sketches portraying the use to which advertised property may be put by the purchaser must set forth qualified cost estimates for preparing the land for the advertised use if the preparations will not be done by the developer and the cost is not included in the purchase price.
3. Advertising may describe a parcel as a potential homesite or building site only if:
(a) The parcel will be usable for the purpose within 2 years without any further improvement or development by the prospective purchaser, and an adequate supply of potable water is available;
(b) The parcel has been approved for installation of a septic tank, or an adequate sewage disposal system is installed within 2 years;
(c) Within 2 years, no further draining, filling or subsurface improvement will be necessary to construct a dwelling;
(d) Within 2 years, the homesite or building site will be accessible by conventional automobile over all-weather roads and an existing right-of-way without additional expense to the purchaser; and
(e) No other fact or circumstance, economic or otherwise, exists or will exist to prohibit the use of the parcel or interest as a homesite or building site.
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › ADVERTISING › Section 119.440 - Reference to facilities away from subdivision

Current through June 11, 2024
1. Advertising must not contain statements, photographs or sketches relating to facilities for recreation, sports or other conveniences which are away from the subdivision and not in existence, unless it is clearly and prominently disclosed in conjunction with the statement, photograph or sketch that the facilities are only proposed and are not in the subdivision, and the distance to them in road miles is given together with the types of roads to be traversed. If the facilities are only proposed, the developer must state a bona fide completion date in the advertising.
2. Advertising which refers to a public facility must fully disclose the financial arrangements and completion date for the facility.
3. Advertising must not refer to a public facility which is only proposed or under study unless it fully and clearly discloses that the facility is proposed or under study. If the advertising refers to a proposed location or completion date for a proposed facility, it must also disclose whether a decision to construct the facility has been officially rendered by the responsible governmental authority.
4. As used in this section, "public facility" means any facility which is available or will be available for use by the general public as well as by purchasers of the subdivision and their successors in interest.
Dep't of Commerce, Real Estate Div., § 49, eff. 7-16-80
NRS 119.184, 119.240
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › ADVERTISING › Section 119.445 - Use of map, picture or sketch

Current through June 11, 2024
1. Advertising may not include a map unless it is drawn to scale and the scale is stated, or the map clearly and obviously bears the label "not to scale."
2. Maps, plats or other representations of a subdivision development must indicate the date on which the subdivision development will be completed. If completion dates extend over a period of years, then a series of shadings, outlines or other coding may be used to indicate dates of completion.
3. If advertising contains pictures, the pictures must fairly and accurately depict the existing conditions of the property being advertised for sale.
4. Advertising must not contain an artist's sketch which portrays proposed improvements or nonexistent scenes unless the sketch is accompanied by a clear and obvious statement that the portrayal is an artist's sketch and that the improvements are proposed or the scenes do not exist.
Dep't of Commerce, Real Estate Div., § 50, eff. 7-16-80
NRS 119.184, 119.240
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › ADVERTISING › Section 119.450 - Misleading use of reprints, testimonial, reference symbol, or name or symbol of organization

Current through June 11, 2024
1. Advertising may not include reprints of previously published material unless the information contained in the reprint is true and relates to the subdivision being offered, and complies with all other provisions of these regulations.
2. Advertising must not include a testimonial or endorsement which contains any statement that the developer is precluded by law or regulation from making in his or her own behalf.
3. Advertising must not contain an asterisk or other reference symbol which refers to explanatory material that contradicts or changes, or tends to contradict or change, the meaning of any prior statement or which obscures or tends to obscure any material fact.
4. Advertising must not contain a name or symbol which implies that the advertiser is a public agency or a nonprofit, research or other similar organization unless it is such an organization.
Dep't of Commerce, Real Estate Div., § 51, eff. 7-16-80
NRS 119.184, 119.240
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › ADVERTISING › Section 119.455 - Disclosure of promotional purpose

Current through June 11, 2024
All oral and written advertising which is designed to induce any attendance at or participation in a sales presentation must conspicuously include the following statement: "The purpose of (the event or activity) is to attempt to sell you property in (name of state in which property is located)."
Dep't of Commerce, Real Estate Div., § 52, eff. 7-16-80
NRS 119.184, 119.240
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › ADVERTISING › Section 119.460 - Privilege to exchange property; resale or repurchase by developer

Current through June 11, 2024
1. Advertising which refers to a privilege to exchange property must clearly state any qualification or limitation on the privilege.
2. Advertising which refers to resale or repurchase by the developer must fully disclose the terms and conditions of the resale or repurchase.
Dep't of Commerce, Real Estate Div., § 53, eff. 7-16-80
NRS 119.184, 119.240
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › ADVERTISING › Section 119.465 - Use of specific terms

Current through June 11, 2024
1. Advertising must not contain the terms "appraised," "appraised value" or similar terms without specifying the statistics or research which support the conclusions, including:
(a) The date of the appraisal;
(b) The appraiser's name, address and telephone number;
(c) Any limiting conditions and other special factors of the appraisal; and
(d) The relationship of the appraiser to the developer.
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › PROMOTIONAL MEETINGS, GIFTS AND CONTRACTS › Section 119.500 - Promotional meetings: Generally

Current through June 11, 2024
1. Before a developer uses promotional meetings, a statement of the nature and manner of conducting the meetings must be submitted in writing as a part of his or her written plan, and approved by the Division.
2. In reviewing the materials submitted by an applicant under NRS 119.140, the Administrator will investigate whether the nature and manner of conducting promotional meetings will bring about a full disclosure of all material facts concerning the subdivision.
Dep't of Commerce, Real Estate Div., § 55, eff. 7-16-80
NRS 119.240
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › PROMOTIONAL MEETINGS, GIFTS AND CONTRACTS › Section 119.510 - Standards for promotional meetings

Current through June 11, 2024
Promotional meetings must conform to the following standards:
1. All advertising in promotional meetings is subject to the standards of advertising set forth in these regulations;
2. No use may be made of shills or false or dummy buyers in promotional meetings to initiate sales or for any other purpose;
3. Oral statements made to prospective purchasers at promotional meetings must be completely consistent with written advertising or other material filed with and approved by the Division;
4. 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;
5. Investigators and other employees of the Division may attend any promotional meeting;
6. Excessively loud music must not be played during promotional meetings and division employees who are present at the meeting may request that music be turned down or off;
7. After the original salesperson makes initial contact with a prospective purchaser, the developer or broker may allow only one additional salesperson to take over and attempt a sale, except a speaker making a speech from a podium;
8. A division employee who is present at a sales presentation may not be identified, singled out or asked questions in such a way that potential purchasers might hear the question or the employee's remarks; and
9. If a broker or developer at any time before, during or after a promotional meeting uses any electronic surveillance, recording, eavesdropping or listening device, its use must be disclosed orally at the beginning of the meeting and also by means of a sign or placard prominently displayed in the meeting room, fully disclosing the use of the devices in the meeting.
Dep't of Commerce, Real Estate Div., § 56, eff. 7-16-80
NRS 119.240
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › PROMOTIONAL MEETINGS, GIFTS AND CONTRACTS › Section 119.520 - Vacation and other gift certificates

Current through June 11, 2024
1. Before a developer advertises or promotes a subdivision with a program which includes the use of vacation or other gift certificates, he or she must submit in writing as a part of his or her written plan a description of the program, along with the following:
(a) Copies of the vacation or gift certificates and other published materials to be used in the program;
(b) The names of the companies with which he or she has contracted to provide the goods or services offered in a certificate; and
(c) Evidence satisfactory to the Division that he or she has firm commitments with the hotels, motels or other suppliers of accommodations which will be used as part of a program using vacation certificates, and, if required by the Administrator, provide financial assurances that he or she can and will honor his or her commitments with certificate holders as well as with the suppliers.
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › HEARINGS AND OTHER PROCEDURES › Section 119.600 - Revocation or suspension of license: Formal hearings

Current through June 11, 2024
If the Division desires to revoke or suspend the license, permit or registration of a developer, broker, salesperson or registered representative, it will hold a formal hearing after initiating a complaint and giving notice as follows:
1. Upon a complaint being initiated by the Division, the Administrator will schedule the matter for a hearing within 30 days before a person who has not investigated or prosecuted the complaint.
2. The time of the hearing may be continued by the Division or upon motion of the respondent with the approval of the Administrator or a designated hearing officer thereof.
3. The Division will give the respondent at least 20 days' prior notice in writing of the date, time and place of the hearing, which notice will contain a copy of the complaint, including an exact statement of the charges together with copies of all reports, affidavits and depositions in possession of the Division which may be used in evidence against the respondent.
4. Notice of the hearing may be served by personal delivery to the respondent or by mail to his or her last known business or home address. If the respondent is a salesperson, the Division will also notify by mail the broker employing him or her.
5. The respondent may file an answer within 20 days after service of the notice. The answer must contain an admission or denial of each of the averments contained in the complaint and any defenses upon which the respondent will rely.
6. The answer may be served by personal delivery to the Division at its office in Las Vegas or Carson City or by mail to the principal office of the Division.
7. Before the hearing, the Division may request, and the respondent may produce upon request, documents and other materials which are under his or her control. The Division may take depositions and obtain material by subpoena.
8. All witnesses at the hearing will be sworn by the Administrator or the designated hearing officer and a tape recording of the proceedings will be made and included as a part of the record in the case.
Dep't of Commerce, Real Estate Div., § 59, eff. 7-16-80
NRS 119.325
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › HEARINGS AND OTHER PROCEDURES › Section 119.610 - Formal hearings: Notice of decision

Current through June 11, 2024
1. The Administrator or the hearing officer will render a decision within 30 days after the date of the hearing and immediately give notice in writing of the decision to the respondent.
2. If the decision is adverse to the respondent, the Administrator or hearing officer will also state in the notice of decision the date upon which the decision becomes effective, which will not be less than 30 days after the date of the notice.
Dep't of Commerce, Real Estate Div., § 60, eff. 7-16-80
NRS 119.240
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › HEARINGS AND OTHER PROCEDURES › Section 119.620 - Informal meetings

Current through June 11, 2024
The Division will schedule an informal meeting rather than a formal hearing for matters which may be settled or otherwise do not require a formal hearing, in accordance with the following procedures:
1. The Division will initiate the procedure for an informal meeting by giving notice which must include a concise statement of all the facts necessary to understand the possible violation and a brief statement of the relief desired by the Division, if appropriate;
2. Informal meetings will be held by the Administrator or a designee thereof at a time and place prescribed by the Administrator;
3. The Administrator, the designee or any other party may require a tape recording to be made of the informal meeting;
4. The initiation of an informal meeting by the Division is without prejudice to its right to initiate a complaint and formal proceedings covering the same subject matter pursuant to these regulations; and
5. All matters discussed and all material presented in an informal meeting may be used in a subsequent formal hearing, and the Division will inform all parties of that fact at the beginning of the informal meeting.
Dep't of Commerce, Real Estate Div., § 61, eff. 7-16-80
NRS 119.240
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › HEARINGS AND OTHER PROCEDURES › Section 119.630 - Petition for reconsideration of Division action

Current through June 11, 2024
1. Any person aggrieved by an action of the Division except the revocation or suspension of a license pursuant to these regulations, may petition the Division for reconsideration of its action within 15 days after its order.
2. The petition must be in writing and state in detail the grounds on which the petitioner relies.
3. If the petitioner desires to present oral argument with the petition, oral argument must be requested in writing at the time the petition is submitted to the Administrator. If oral argument is requested, the Division will set a time for a hearing to occur no later than 20 days after receipt of the petition. The Division will give at least 15 days' notice of the hearing.
4. No later than 15 days after receiving the petition or hearing of oral argument the Division will render a decision in writing to the petitioner.
Dep't of Commerce, Real Estate Div., § 62, eff. 7-16-80
NRS 119.240
Nevada Administrative Code › Chapter 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION › HEARINGS AND OTHER PROCEDURES › Section 119.650 - Petition for adoption of regulations

Current through June 11, 2024
Any interested person may petition the Administrator requesting the adoption, amendment or repeal of any regulation. The petition must be submitted in written form, clearly and intelligibly set forth the regulation requested to be adopted, amended or repealed, and be accompanied by relevant data, views and arguments. The Administrator will within 30 days either deny the petition in writing, stating the reasons, or initiate proceedings for the adoption of regulations in accordance with NRS 233B.060.
Dep't of Commerce, Real Estate Div., § 64, eff. 7-16-80
NRS 233B.100
Nevada Administrative Code › Chapter 119A - TIME SHARES › GENERAL PROVISIONS › Section 119A.005 - Definitions

Current through June 11, 2024
As used in this chapter, unless the context otherwise requires,
				the words and terms defined in
				NRS
				119A.020 to
				119A.160, inclusive, and NAC
				119A.010 to
				119A.065, inclusive, have the
				meanings ascribed to them in those sections.
Added to NAC by Real
				Estate Div., eff. 12-3-84; A by
				R130-16A,
				eff. 11/13/2017; A
				by
				R130-16AP,
				eff. 8/30/2018
NRS 119A.190
Nevada Administrative Code › Chapter 119A - TIME SHARES › GENERAL PROVISIONS › Section 119A.010 - "Advertisement" defined

Current through June 11, 2024
"Advertisement" means published material which:
1. Offers for sale any time share;
2. Causes or induces, directly or indirectly,
			 any person to acquire a time share; or
3. Is used to induce prospective purchasers
			 to attend sales presentations on time shares.
Added to NAC by Real
				Estate Div., eff. 12-3-84; A by
				R130-16A,
				eff. 11/13/2017; A
				by
				R130-16AP,
				eff. 8/30/2018
NRS 119A.190
Nevada Administrative Code › Chapter 119A - TIME SHARES › GENERAL PROVISIONS › Section 119A.015 - "Blanket encumbrance" defined (Repealed)

Current through June 11, 2024
Added to NAC by Real
				Estate Div., eff. 12-3-84; R by
				R130-16A,
				eff. 11/13/2017; R
				by
				R130-16AP,
				eff. 8/30/2018
NRS 119A.190
Nevada Administrative Code › Chapter 119A - TIME SHARES › GENERAL PROVISIONS › Section 119A.020 - "Branch office" defined (Repealed)

Current through June 11, 2024
Added to NAC by Real
				Estate Div., eff. 12-3-84; R by
				R130-16A,
				eff. 11/13/2017; R
				by
				R130-16AP,
				eff. 8/30/2018
NRS 119A.190
Nevada Administrative Code › Chapter 119A - TIME SHARES › GENERAL PROVISIONS › Section 119A.030 - "Declaration" defined

Current through June 11, 2024
"Declaration" means a time-share instrument consisting of the
				recorded covenants, conditions and restrictions governing a project or a
				time-share plan.
Added to NAC by Real
				Estate Div., eff. 12-3-84; A by
				R130-16A,
				eff. 11/13/2017; A
				by
				R130-16AP,
				eff. 8/30/2018
NRS 119A.190
Nevada Administrative Code › Chapter 119A - TIME SHARES › GENERAL PROVISIONS › Section 119A.035 - "Director" defined (Repealed)

Current through June 11, 2024
Added to NAC by Real
				Estate Div., eff. 12-3-84; R by
				R130-16A,
				eff. 11/13/2017; R
				by
				R130-16AP,
				eff. 8/30/2018
NRS 119A.190
Nevada Administrative Code › Chapter 119A - TIME SHARES › GENERAL PROVISIONS › Section 119A.040 - "Employment" defined

Current through June 11, 2024
"Employment" means the relationship between a
				broker-salesperson, salesperson, time-share representative or time-share agent
				and the project broker with whom he or she is associated. The term includes any
				employee-employer relationship as well as any relationship involving an
				independent contractor.
Added to NAC by Real
				Estate Div., eff. 12-3-84
NRS
				  119A.190
Nevada Administrative Code › Chapter 119A - TIME SHARES › GENERAL PROVISIONS › Section 119A.045 - "Principal place of business" defined

Current through June 11, 2024
"Principal place of business" means the principal office of a
				project broker or time-share resale broker which the project broker or
				time-share resale broker uses to conduct the business of selling or reselling
				time shares, as applicable.
Added to NAC by Real
				Estate Div., eff. 12-3-84; A by
				R130-16A,
				eff. 11/13/2017; A
				by
				R130-16AP,
				eff. 8/30/2018
NRS 119A.190
Nevada Administrative Code › Chapter 119A - TIME SHARES › GENERAL PROVISIONS › Section 119A.047 - "Project instrument" defined

Current through June 11, 2024
"Project instrument" means any document affecting the real
				property on which a project is located and which is not a time-share
				instrument.
[Added to NAC by Real
				Estate Div., eff. 12-3-84]-(Substituted in revision for NAC 119A.055 ); A by
				R130-16A,
				eff. 11/13/2017; A
				by
				R130-16AP,
				eff. 8/30/2018
NRS 119A.190
Nevada Administrative Code › Chapter 119A - TIME SHARES › GENERAL PROVISIONS › Section 119A.050 - "Promotional meeting" defined

Current through June 11, 2024
"Promotional meeting" means any sales presentation given to any
				number of potential purchasers at one time at any location.
Added to NAC by Real
				Estate Div., eff. 12-3-84
NRS
				  119A.190
Nevada Administrative Code › Chapter 119A - TIME SHARES › GENERAL PROVISIONS › Section 119A.060 - "Published material" defined

Current through June 11, 2024
"Published material" means anything published in any medium by
				or for any person to whom this chapter or chapter 119A of NRS applies,
				including:
1. Any newspaper or
			 periodical, except a press release;
2. Any radio, television, telephonic or other
			 electronic broadcast or display;
3.
			 Written, printed, photographic or artistic matter, including any pictorial
			 display or statement visible to prospective purchasers attending a promotional
			 meeting;
4. Vacation or other gift
			 certificates; and
5. Oral
			 statements made by a developer or a representative thereof at any promotional
			 meeting.
Added to NAC by Real
				Estate Div., eff. 12-3-84; A by
				R130-16A,
				eff. 11/13/2017; A
				by
				R130-16AP,
				eff. 8/30/2018
NRS 119A.190
Nevada Administrative Code › Chapter 119A - TIME SHARES › GENERAL PROVISIONS › Section 119A.065 - "Salesperson" defined

Current through June 11, 2024
"Salesperson" means any person who is licensed under chapter
				645 of NRS and is employed or engaged by a licensed real estate broker for
				compensation or otherwise to perform any act or transaction to which chapter
				119A or 645 of NRS applies.
Added to NAC by Real
				Estate Div., eff. 12-3-84
NRS
				  119A.190
Nevada Administrative Code › Chapter 119A - TIME SHARES › GENERAL PROVISIONS › Section 119A.070 - "Time-share plan" defined (Repealed)

Current through June 11, 2024
Added to NAC by Real
				Estate Div., eff. 12-3-84; R by
				R130-16A,
				eff. 11/13/2017; R
				by
				R130-16AP,
				eff. 8/30/2018
NRS 119A.190
Nevada Administrative Code › Chapter 119A - TIME SHARES › GENERAL PROVISIONS › Section 119A.073 - Check or draft returned for lack of payment

Current through June 11, 2024
1. If a
			 person submits a check, draft or electronic payment to the Division to obtain a
			 license, certificate, registration, approval, accreditation or other type of
			 authorization to engage in an activity for which authorization is required
			 pursuant to this chapter or chapter 119A of NRS other than a permit, and the
			 check, draft or electronic payment is returned to the Division because the
			 person had insufficient money or credit with the drawee to pay the check, draft
			 or electronic payment or the person stopped payment on the check, draft or
			 electronic payment:
(a) The license,
			 certificate, registration, approval, accreditation or other type of
			 authorization obtained by the person from the Division is automatically
			 invalidated; or
(b) If the person
			 has not obtained the license, certificate, registration, approval,
			 accreditation or other type of authorization from the Division, the Division
			 may refuse to issue or reinstate the authorization.
Nevada Administrative Code › Chapter 119A - TIME SHARES › LICENSING › Section 119A.075 - Sales agent: Application

Current through June 11, 2024
1. An application
			 for a sales agent's license must be filed with an office of the Division on
			 forms supplied by the Division and be accompanied by a fingerprint card and
			 such additional information as is required by the Division. Fingerprints must
			 be taken by a recognized law enforcement agency.
2. Each application must be completed by the
			 applicant. A member of the Commission or employee of the Division shall not
			 prepare an application on behalf of an applicant.
3. The Division will retain an application
			 for 1 year. If a license is not issued within that time, the applicant must
			 submit another application.
Added to NAC by Real
				Estate Div., eff. 12-3-84; A 5-2-86
NRS
				  119A.190,
				  119A.210
Nevada Administrative Code › Chapter 119A - TIME SHARES › LICENSING › Section 119A.077 - Sales agent: Fee for investigation of background of applicant

Current through June 11, 2024
1. The Division will charge and collect, from
				  each person who applies for a license as a sales agent, a fee for any
				  investigation of the person's background undertaken pursuant to
				  NRS
				  119A.210.
2. The fee will not exceed the actual cost to
				  conduct the investigation.
Added to NAC by Real Estate Div.
				  by R011-04, eff. 4-6-2004
NRS
				  119A.190,
				  119A.210,
				  119A.350,
				  119A.360
Nevada Administrative Code › Chapter 119A - TIME SHARES › LICENSING › Section 119A.078 - Sales agent: Examination required; fee for examination

Current through June 11, 2024
1. An applicant for a license as a sales
				  agent must, not earlier than 1 year before submitting his or her application to
				  the Division, take and pass an examination administered by the
				  Division.
2. An applicant must pay
				  a fee of $100 each time he or she takes the examination.
Added to NAC by Real Estate Div.
				  by R011-04, eff. 4-6-2004
NRS
				  119A.190,
				  119A.210,
				  119A.360
Nevada Administrative Code › Chapter 119A - TIME SHARES › LICENSING › Section 119A.080 - Sales agent: Minimum age

Current through June 11, 2024
The Administrator will not:
1. Accept any application from a person under
				  the age of 17 years for a license as a sales agent pursuant to this chapter;
				  or
2. Issue a license to a person
				  under the age of 18 years.
Added to NAC by Real Estate Div.,
				  eff. 12-3-84
NRS
				  119A.190,
				  119A.210
Nevada Administrative Code › Chapter 119A - TIME SHARES › LICENSING › Section 119A.081 - Provisional license: Prerequisites; issuance

Current through June 11, 2024
1. The
				  Division will grant a provisional sales agent's license to an applicant who has
				  submitted:
(a) A complete application for a
				  sales agent's license in compliance with
				  NRS
				  119A.210 and NAC 119A.075 and
				  119A.077;
(b) A written statement
				  of acknowledgment from the project broker who will employ the applicant that:
(1) The project broker has obtained a report
				  on the background of the applicant from a licensed private investigator or
				  other reputable source acceptable to the Division;
(2) The project broker is satisfied that the
				  applicant has a reputation for honesty, trustworthiness and competence;
				  and
(3) There is a written
				  agreement between the project broker and the applicant in which the applicant
				  states that he or she understands and agrees that his or her employment in a
				  position as a provisional sales agent will be terminated if the Division denies
				  the application; and
(c)
				  A copy of the report described in subparagraph (1) of paragraph (b), which must
				  demonstrate that the applicant has not been convicted of, or pleaded guilty or
				  nolo contendere to, any crime that would be grounds for the Division to deny
				  the application pursuant to NAC 119A.085.
Nevada Administrative Code › Chapter 119A - TIME SHARES › LICENSING › Section 119A.082 - Provisional license: Expiration; termination of employment; denial of application

Current through June 11, 2024
1. A provisional
				  license granted to an applicant by the Division will expire automatically:
(a) If the Division denies the applicant's
				  application;
(b) Upon the issuance
				  of a sales agent's license to the project broker for the applicant;
(c) If the Division denies the applicant an
				  identification card or permit of any kind;
(d) If the applicant terminates employment
				  with the project broker who provided the written statement of acknowledgment
				  identified in NAC 119A.081; or
(e)
				  If the applicant's check for the fee for the application of an original license
				  is returned for insufficient funds.
Nevada Administrative Code › Chapter 119A - TIME SHARES › LICENSING › Section 119A.083 - Provisional licensee: Restrictions; supervision; commissions

Current through June 11, 2024
1. A provisional licensee shall not:
(a) Conduct sales-related activities unless
				  he or she is:
(1) Under the supervision of:
(I) His or her project broker; or
(II) A person licensed pursuant to chapter
				  645 of NRS.
Nevada Administrative Code › Chapter 119A - TIME SHARES › LICENSING › Section 119A.085 - Sales agent: Grounds for denial of application

Current through June 11, 2024
The Division will deny any
				  application for a license if:
1. The
				  application is not in proper form;
2. The proper fees are not
				  enclosed;
3. The accompanying forms
				  are incomplete or otherwise unsatisfactory;
4. The application contains a false
				  statement;
5. The application is
				  otherwise deficient;
6. The
				  applicant has been convicted of, or pleaded guilty or nolo contendere to, a
				  felony or a misdemeanor involving moral turpitude, dishonesty or
				  untrustworthiness, or has aided and abetted another to act or attempt to act in
				  violation of chapter 119, 119A, 645 or 645A of NRS or the regulations adopted
				  pursuant to those chapters;
7. The
				  application fails to meet the requirements of
				  NRS
				  119A.210;
8. An investigation fails to show
				  affirmatively that the applicant possesses the necessary
				  qualifications;
9. The applicant
				  has willfully acted or attempted to act in violation of chapter 119, 119A, 645
				  or 645A of NRS or the regulations adopted pursuant to those chapters, or has
				  aided and abetted another to act or attempt to act in violation of those
				  statutes or regulations;
10. The
				  applicant has had a license suspended or revoked in another state; or
11. The applicant holds a valid license
				  issued pursuant to chapter 645 of NRS.
Added to NAC by Real Estate Div.,
				  eff. 12-3-84; A 5-2-86; R011-04, 4-6-2004
NRS
				  119A.190,
				  119A.210
Nevada Administrative Code › Chapter 119A - TIME SHARES › LICENSING › Section 119A.090 - Sales agent: Notice of denial of application; hearing to contest denial

Current through June 11, 2024
1. If an application for a license, filed in
				  the proper form and accompanied by the proper fee, is denied, the Administrator
				  will give notice of the fact to the applicant within 15 days after the
				  denial.
2. Upon written request
				  from the applicant for a hearing to contest the denial of an application, the
				  Administrator will schedule a hearing on the matter if the request:
(a) Is filed within 30 days after receipt of
				  the notice of the denial; and
(b)
				  Contains allegations which, if true, qualify the applicant for a
				  license.
Nevada Administrative Code › Chapter 119A - TIME SHARES › LICENSING › Section 119A.095 - Sales agent: Invalidation of license

Current through June 11, 2024
The Administrator, upon discovery of any error
				  in the issuance of a license which is related to the qualification or fitness
				  of the licensee, will invalidate the license. The Administrator will promptly
				  notify the licensee, in writing, of the invalidation, and the licensee shall
				  surrender the license to the Division within 20 days after the notice is sent.
				  A licensee whose license is invalidated under this section and surrendered
				  within the time specified is entitled to a hearing as provided for the denial
				  of an application in this chapter and chapter 119A of NRS.
Added to NAC by Real Estate Div.,
				  eff. 12-3-84
NRS
				  119A.190,
				  119A.210
Nevada Administrative Code › Chapter 119A - TIME SHARES › LICENSING › Section 119A.100 - Branch offices

Current through June 11, 2024
1. Every branch
				  office must be operated in accordance with the provisions of
				  NRS
				  119A.268.
2. A branch office is not required to
				  establish a trust account separate from the main office, but if one is
				  established, one of the signatures required on the account must be that of the
				  supervisor of the branch office.
3.
				  A branch office is required for each site that is separate from the principal
				  place of business at which the business of selling or reselling time shares, as
				  applicable, is conducted.
Added to NAC by Real Estate Div.,
				  eff. 12-3-84; A by
				  R130-16A,
				  eff. 11/13/2017; A
				  by
				  R130-16AP,
				  eff. 8/30/2018
NRS 119A.190,
				  119A.268
Nevada Administrative Code › Chapter 119A - TIME SHARES › LICENSING › Section 119A.105 - Project broker or developer: Commingling of certain money prohibited; maintenance, inspection and audit of records

Current through June 11, 2024
1. A
				  project broker or time-share resale broker shall not commingle the money or
				  other property of a client with his or her own.
2. A project broker or time-share resale
				  broker shall keep records of every transaction clearly indicating deposits,
				  disbursements, dates, names of purchasers and salespersons or sales agents, if
				  applicable, and, with respect to a project broker, the records required to be
				  kept pursuant to NRS
				  119A.400, and other pertinent information,
				  numbered consecutively or indexed to permit audit by the Division.
3. A project broker or time-share resale
				  broker shall notify the Division of the names of banks in which he or she
				  maintains trust accounts and specify the names of the accounts on forms
				  provided by the Division. All such records are subject to inspection by the
				  Division and its investigators and employees.
4. The project broker or time-share resale
				  broker must give written notice to the Division of the exact location of his or
				  her records of transaction. The project broker or time-share resale broker may
				  not remove the records of transaction until notice of a new location is
				  delivered to the Division.
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
Nevada Administrative Code › Chapter 119A - TIME SHARES › LICENSING › Section 119A.110 - Change of status

Current through June 11, 2024
1. When a sales
				  agent requests a change of project broker and pays the fee, the receipt issued
				  by the Division constitutes a temporary working permit pending receipt of the
				  requested license.
2. A sales agent
				  who is working for a corporation, limited-liability company or partnership is
				  not considered to have changed employers if the corporation, limited-liability
				  company or partnership changes its project broker.
3. A real estate broker-salesperson,
				  salesperson or sales agent shall not sell or offer to sell time shares in
				  association with anyone other than the real estate broker with whom he or she
				  is licensed at the location indicated on his or her license.
Added to NAC by Real Estate Div.,
				  eff. 12-3-84; A by
				  R130-16A,
				  eff. 11/13/2017; A
				  by
				  R130-16AP,
				  eff. 8/30/2018
NRS 119A.190,
				  119A.220
Nevada Administrative Code › Chapter 119A - TIME SHARES › LICENSING › Section 119A.112 - Sales agent: Application to transfer license to new location

Current through June 11, 2024
A sales
				  agent shall apply to transfer his or her license to a different location, on
				  forms furnished by the Division, before conducting sales activities at the new
				  location.
Added to NAC by Real Estate Div.,
				  eff. 5-2-86
NRS
				  119A.190,
				  119A.220
Nevada Administrative Code › Chapter 119A - TIME SHARES › LICENSING › Section 119A.115 - Project broker: Explanation of termination of sales agent

Current through June 11, 2024
The
				  project broker shall explain the circumstances surrounding the discharge or
				  termination of employment of any sales agent and supply an impression of his or
				  her character, integrity and competence as well as any other pertinent
				  information requested by the Division.
Added to NAC by Real Estate Div.,
				  eff. 12-3-84
NRS
				  119A.190,
				  119A.220
Nevada Administrative Code › Chapter 119A - TIME SHARES › LICENSING › Section 119A.120 - Sales agent: Failure to renew and reinstatement of license

Current through June 11, 2024
1. If a sales agent fails to file an
				  application for the renewal of his or her license before it expires, the sales
				  agent may not engage in the business of selling time shares until the license
				  is reinstated. To have the license reinstated, the sales agent must apply on
				  the appropriate form, submit a current fingerprint card and pay the required
				  fee.
2. In reviewing an application
				  for reinstatement, the Administrator will apply the same standards as are
				  applied for an application for an initial license. The Administrator will
				  determine whether the application is accepted or denied within 10 days after
				  receipt by the Division of the completed application, fee and any other
				  information requested from the applicant and the report on the fingerprint card
				  from the Federal Bureau of Investigation, if a report was requested.
3. If the Administrator denies an application
				  for reinstatement for any reason, the sales agent may appeal the denial in the
				  same manner as provided for the appeal of a denial of an application for an
				  initial license.
Added to NAC by Real Estate Div.,
				  eff. 12-3-84
NRS
				  119A.190,
				  119A.210
Nevada Administrative Code › Chapter 119A - TIME SHARES › LICENSING › Section 119A.125 - Project broker: Effect of failure to renew or cancellation, revocation or suspension of license

Current through June 11, 2024
If a project broker fails to renew his or her
				  license or it is cancelled, suspended or revoked, the license of each sales
				  agent in his or her employ will be immediately suspended until the employee
				  applies for and meets the qualifications for reinstatement of his or her
				  license and pays the proper fees.
Added to NAC by Real Estate Div.,
				  eff. 12-3-84
NRS
				  119A.190,
				  119A.220
Nevada Administrative Code › Chapter 119A - TIME SHARES › LICENSING › Section 119A.130 - Project broker: Duties, refund and transfer of employees upon termination of license

Current through June 11, 2024
If the project broker fails to renew his or her
				  license or it is cancelled, suspended or revoked, the project broker shall
				  notify all broker-salespersons, salespersons and sales agents employed by the
				  project broker and deliver the license to the Division with the licenses of
				  such employees. The employees may, upon proper application and payment of the
				  required fee, transfer to the employ of another project broker within 30 days
				  without need to submit current fingerprint cards. The Division will not make a
				  refund when a license is cancelled, suspended, revoked or otherwise
				  terminated.
Added to NAC by Real Estate Div.,
				  eff. 12-3-84; A by
				  R130-16A,
				  eff. 11/13/2017; A
				  by
				  R130-16AP,
				  eff. 8/30/2018
NRS 119A.190
Nevada Administrative Code › Chapter 119A - TIME SHARES › LICENSING › Section 119A.135 - Failure of sales agent to surrender license: Affidavit showing loss, destruction or theft

Current through June 11, 2024
If a sales agent is required to surrender his
				  or her license and does not, the sales agent shall file an affidavit with the
				  Division showing that the license has been lost, destroyed or stolen. The
				  affidavit must contain the licensee's promise to return the license if it is
				  recovered.
Added to NAC by Real Estate Div.,
				  eff. 12-3-84
NRS
				  119A.190