Nev. Rev. Stat. ch. 116B – Condominium Hotel Act | Midpage116B.005Short title116B.010Definitions116B.015“Administrator” defined116B.020“Affiliate of a declarant” defined116B.025“Allocated interests” defined116B.030“Association” and “unit-owners’ association” defined116B.035“Commission” defined116B.040“Common elements” defined116B.045“Common expenses” defined116B.050“Community manager” defined116B.055“Complaint” defined116B.060“Condominium hotel” defined116B.065“Converted building” defined116B.070“Dealer” defined116B.075“Declarant” defined116B.080“Declaration” defined116B.085“Developmental rights” defined116B.090“Dispose” and “disposition” defined116B.095“Division” defined116B.100“Executive board” defined116B.105“Financial statement” defined116B.110“Governing documents” defined116B.115“Hearing panel” defined116B.120“Hotel unit” defined116B.125“Hotel unit owner” defined116B.130“Identifying number” defined116B.135“Leasehold condominium hotel” defined116B.140“Liability for common expenses” defined116B.145“Liability for shared expenses” defined116B.150“Limited common element” defined116B.155“Major component of the common elements” defined116B.160“Major component of the hotel unit” defined116B.165“Major component of the shared components” defined116B.170“Offering” defined116B.175“Ombudsman” defined116B.180“Party to the complaint” defined116B.185“Person” defined116B.190“Purchaser” defined116B.195“Real estate” defined116B.200“Residential unit” defined116B.205“Residential unit owner” defined116B.210“Security interest” defined116B.215“Shared components” defined116B.220“Shared expenses” defined116B.225“Special declarant’s rights” defined116B.230“Time share” defined116B.235“Unit” defined116B.240“Unit’s owner” defined116B.245Provisions of chapter may not be varied by agreement, waived or evaded; exceptions116B.250Applicability of local ordinances, regulations and building codes116B.255Eminent domain116B.260Supplemental general principles of law applicable116B.265Provisions of chapter prevail over conflicting provisions governing certain business entities generally116B.270Construction against implicit repeal116B.275Unconscionable agreement or term of contract116B.280Obligation of good faith116B.285Remedies to be liberally administered116B.287Relation to Electronic Signatures in Global and National Commerce Act116B.290Applicability116B.295Provisions of governing documents in violation of chapter deemed to conform with chapter by operation of law116B.300Notice of changes to governing documents116B.305Creation of condominium hotels116B.310Hotel unit boundaries116B.315Control of hotel units; use of shared components116B.320Construction and validity of declaration and bylaws116B.325Description of units116B.330Contents of declaration116B.335Leasehold condominium hotels116B.340Allocation of allocated interests116B.345Limited common elements116B.350Plats116B.355Exercise of developmental rights116B.360Alterations of units; access to units116B.365Monuments as boundaries116B.370Relocation of boundaries between adjoining units116B.375Subdivision of units116B.380Amendment of declaration116B.385Termination of condominium hotel116B.390Rights of creditors following termination116B.395Respective interests of units’ owners following termination116B.400Effect of foreclosure or enforcement of lien or encumbrance116B.405Rights of secured lenders116B.410Merger or consolidation of condominium hotels; reallocation of liability for shared expenses116B.415Organization of unit-owners’ association116B.420Powers of unit-owners’ association116B.425Power of executive board to act on behalf of association; members and officers are fiduciaries; duty of care; application of business-judgment rule and conflict of interest rules; limitations on power116B.430Power of executive board to impose fines and other sanctions for violations of governing documents; procedural requirements; continuing violations; collection of past due fines116B.435Accounting for fines in books and records of association; prohibition against applying payment for assessment, fee or other charge toward payment of fine; exceptions116B.440Period of declarant’s control of association; representation of units’ owners on executive board116B.445Election of members of executive board and officers of association; term of office of member of executive board; staggered terms; eligibility to serve on executive board; required disclosures; procedure for conducting elections; certification by member of executive board of understanding of governing documents and provisions of chapter116B.450Removal of member of executive board116B.455Delivery to association of property held or controlled by declarant; exceptions116B.460Delivery to association of additional common elements constructed by declarant or successor declarant116B.465Delivery to association of converted shared component reserve deficit116B.470Delivery to association of converted common element reserve deficit116B.475Transfer of special declarant’s right116B.480Liabilities and obligations of person who succeeds to special declarant’s rights116B.485Successor not subject to certain claims against or other obligations of transferor of special declarant’s right116B.490Bylaws116B.495Rules of association116B.500Rules of hotel unit owner116B.505Limitation on power of hotel unit owner to impose sanctions for violations of rules; exception; procedural requirements116B.510Complaint alleging violation by hotel unit owner; acknowledgment; response116B.513Notice to units’ owners116B.515Upkeep of condominium hotel116B.520Meetings of units’ owners; frequency of meetings; calling special meetings or removal elections; requirements concerning notice and agendas; requirements concerning minutes of meetings; right of units’ owners to make audio recordings of meetings; presentation of written report concerning budgets for shared expenses116B.525Meetings of executive board; frequency of meetings; requirements concerning notice and agendas; periodic review of certain financial and legal matters at meetings; requirements concerning minutes of meetings; right of units’ owners to make audio recordings of certain meetings116B.530Right of units’ owners to speak at certain meetings; limitations on right; limitations on power of executive board to meet in executive session; procedure governing hearings on alleged violations; requirements concerning minutes of certain meetings116B.535Right of units’ owners to have certain complaints placed on agenda of meeting of executive board116B.540Meetings 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 settlements116B.545Quorum; use of Robert’s Rules of Order Newly Revised116B.550Voting by units’ owners; use of proxies; voting by lessees of leased units; association prohibited from voting as owner of unit; voting without meeting116B.555Tort and contract liability116B.560Conveyance or encumbrance of common elements116B.565Insurance: General requirements116B.570Insurance: Policies116B.575Insurance: Repair or replacement of damaged or destroyed portion of condominium hotel116B.577Funds of association to be deposited or invested at certain financial institutions116B.580Preparation and presentation of financial statements116B.585Audit and review of financial statements116B.590Assessments for common expenses; funding of adequate reserves; collection of interest on past due assessments; calculation of assessments for particular types of common expenses; notice of meetings regarding assessments for capital improvements116B.595Assessments for shared expenses; funding of adequate reserves; collection of interest on past due assessments; payer of shared expenses not entitled to ownership or control; delivery of budget for projected shared expenses116B.600Annual distribution to units’ owners of operating and reserve budgets or summaries of such budgets; ratification of budget116B.605Study 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 Division116B.610Study 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 study116B.615Signatures required for withdrawals from reserve account of association; exceptions116B.620Fees imposed on associations to pay for costs of administering Office of Ombudsman and Commission; administrative penalties for failure to pay; interest on unpaid fees116B.625Registration of associations with Ombudsman116B.630Liens against units for assessments116B.635Foreclosure of liens: Mailing of notice of delinquent assessment; recording of notice of default and election to sell; period during which unit’s owner may pay lien to avoid foreclosure; limitations on type of lien that may be foreclosed116B.640Foreclosure of liens: Mailing of notice of default and election to sell to certain interested persons116B.645Foreclosure of liens: Providing notice of time and place of sale; service of notice of sale; contents of notice of sale; proof of service116B.650Foreclosure of liens: Procedure for conducting sale; purchase of unit by association or hotel unit owner; execution and delivery of deed; use of proceeds of sale116B.655Foreclosure 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 redemption116B.660Foreclosure 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 foreclose116B.665Liens against association116B.670Maintenance and availability of books, records and other papers of association: General requirements; provision of copies to units’ owners and Ombudsman; exceptions; general records concerning certain violations; enforcement by Ombudsman; limitations on amount that may be charged to conduct review116B.675Maintenance and availability of certain financial records of association; provision of copies to units’ owners and Ombudsman116B.680Maintenance and availability of financial records of association; right of units’ owners to inspect, examine, photocopy and audit records of association116B.685Maintenance, availability and review of certain financial books and records of hotel unit116B.690Retaliatory action prohibited116B.695Prohibition against certain personnel soliciting or accepting compensation, gratuity or remuneration under certain circumstances116B.700Prohibition against certain personnel contracting with association or accepting commission, personal profit or compensation from association; exceptions116B.705Association as trustee116B.710Right of units’ owners to display flag of the United States in certain areas; conditions and limitations on exercise of right116B.715Right of units’ owners to exhibit political signs in certain areas; conditions and limitations on exercise of right116B.720Association prohibited from requiring unit’s owner to obtain approval to rent or lease unit; exceptions116B.725Applicability; exceptions116B.730Liability for preparation and delivery of public offering statement116B.735Public offering statement: General provisions116B.740Public offering statement: Condominium hotels subject to developmental rights116B.745Public offering statement: Condominium hotel containing converted building116B.750Public offering statement: Condominium hotel registered with Securities and Exchange Commission or State of Nevada116B.755Purchaser’s right to cancel116B.760Resales of units116B.765Required form of information statement116B.770Escrow of deposits; furnishing of bond in lieu of deposit116B.775Release of liens116B.780Exclusion or modification of warranties of quality116B.785Power of Commission to adopt regulations concerning additional disclosures116B.790Effect of violations on rights of action; civil action for damages for failure or refusal to comply with provisions of chapter or governing documents; members of executive board not personally liable to victims of crimes; circumstances under which punitive damages may be awarded; attorney’s fees116B.795Substantial completion of units116B.800Jurisdiction116B.805Administration of chapter; regulations of Commission and Real Estate Administrator; delegation of authority; publications116B.810Employment of personnel by Real Estate Division; designation of deputy attorney general by Attorney General; legal opinions and assistance by deputy attorney general116B.815Ombudsman for Owners in Common-Interest Communities and Condominium Hotels: Powers and duties116B.820Immunity116B.825Service of notice and other information upon Commission116B.830Authority for Real Estate Division to conduct business electronically; regulations; fees; use of unsworn declaration; exclusions116B.835Issuance and enforcement of subpoenas116B.840Witnesses: Payment of fees and mileage116B.845Conducting hearings and other proceedings; collection of information; development and promotion of educational guidelines; accreditation of programs of education and research116B.850Establishment of standards for subsidizing proceedings for mediation, arbitration and program and for subsidizing educational programs; acceptance of gifts, grants and donations; agreements and cooperation with other entities116B.855Appointment of hearing panels; delegation of powers and duties; appeals to Commission116B.860Use of audio or video teleconference for hearings116B.865“Violation” defined116B.870Jurisdiction of Real Estate Division, Ombudsman, Commission and hearing panels116B.875Rights, remedies and penalties are cumulative and not exclusive; limitations on power of Commission and hearing panels regarding internal activities of association116B.880Confidentiality of records: Certain records relating to complaint or investigation deemed confidential; certain records relating to disciplinary action deemed public records116B.885Right of person aggrieved by alleged violation to file affidavit with Real Estate Division; procedure for filing affidavit; administrative fine for filing false or fraudulent affidavit116B.890Referral of affidavit to Ombudsman for assistance in resolving alleged violation; report by Ombudsman; investigation by Real Estate Division; determination of whether to file complaint with Commission116B.895Procedure for hearing complaints: Time for holding hearing; continuances; notices; evidence; answers; defaults116B.900Representation by attorney116B.905Decisions on complaints116B.910Remedial and disciplinary action: Orders to cease and desist and to correct violations; administrative fines; removal from office or position; payment of costs; exemptions from liability116B.915Remedial and disciplinary action: Audit of association; appointment of receiver116B.920Injunctions