1. The Administrator shall deny an application for a permit to sell time shares if the Administrator finds that:
- (a) The developer failed to comply with any of the provisions of this chapter or the regulations adopted by the Division; or
(b) The developer, any affiliate of the developer or any officer of the developer or an affiliate of the developer, has:
- (1) Been convicted of or pleaded nolo contendere to forgery, embezzlement, obtaining money under false pretenses, larceny, extortion, conspiracy to defraud or other crime involving moral turpitude;
- (2) Been the subject of a judgment in any civil or administrative action, including a proceeding to revoke or suspend a license, involving fraud or dishonesty;
- (3) Been permanently enjoined by a court of competent jurisdiction from selling real estate, time shares or securities in an unlawful manner;
- (4) Had a registration as a broker-dealer in securities or a license to act as a real estate broker or salesperson, project broker or sales agent revoked;
- (5) Been convicted of or pleaded nolo contendere to selling time shares without a license; or
- (6) Had a permit to sell time shares, securities or real estate revoked.
- 2. The Administrator may deny an application for a permit to sell time shares if the Administrator finds that the developer has failed to offer satisfactory proof that it has a good reputation for honesty, trustworthiness, integrity and competence to transact the business of a developer in a manner which safeguards the interests of the public.
- 3. The burden of proof is on the developer to establish to the satisfaction of the Administrator that the developer is competent to transact the business of the developer in a manner which safeguards the interests of the public.
- 4. If a developer has substantially complied with the provisions of this chapter in good faith, a nonmaterial error or omission is not sufficient grounds to deny a permit.
(Added to NRS by 1983, 980; A 1985, 1141; 1991, 97; 2001, 2503; 2013, 3516)