If an association has imposed a fine against a unit’s owner or a tenant or an invitee of a unit’s owner or a tenant pursuant to NRS 116.31031 for violations of the governing documents of the association, the association shall establish a compliance account to account for the fine, which must be separate from any account established for assessments.
NRS 116.310315
Accounting for fines imposed by association
Known as the Uniform Common-Interest Ownership Act
The act spans §§ 116–116 (235 sections).
(Added to NRS by 1997, 3112; A 2005, 1715; 2009, 2882, 2915)—(Substituted in revision for NRS 116.31145)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.