1. 1. Except as otherwise provided in subsection 2, NRS 116B.725 to 116B.795, inclusive, apply to all condominium hotels.

2. 2. Neither a public offering statement nor a certificate of resale need be prepared or delivered in the case of a:

   1. (a) Gratuitous disposition of a unit;
   2. (b) Disposition pursuant to court order;
   3. (c) Disposition by a government or governmental agency;
   4. (d) Disposition by foreclosure or deed in lieu of foreclosure;
   5. (e) Disposition to a dealer;
   6. (f) Disposition that may be cancelled at any time and for any reason by the purchaser without penalty; or
   7. (g) Disposition of a unit not used for residential use.

(Added to NRS by 2007, 2248; A 2015, 1243)