The provisions of NRS 119A.290 to 119A.470, inclusive, 119A.480 and 119A.720 do not apply to a developer who has a valid permit issued pursuant to this chapter concerning the offer or disposition in this State of a time share in a time-share plan which includes units which are:

1. 1. Located outside of this State;
2. 2. Not registered pursuant to the provisions of this chapter; and

3. 3. Offered or sold to an existing owner of a time-share plan offered by that developer or an affiliate of that developer if the developer or the affiliate:

   1. (a) Authorizes the purchaser to cancel the purchase contract until midnight of the fifth calendar day after the date of the execution of the contract; and
   2. (b) Provides the purchaser with all of the time share disclosure documents required by law in the jurisdiction in which the time share is located.

(Added to NRS by 2013, 3508)