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NRS 116.4105

Public offering statement: Time shares

Known as the Uniform Common-Interest Ownership Act

The act spans §§ 116–116 (235 sections).

(Added to NRS by 1991, 574)

If the declaration provides that ownership or occupancy of any units, is or may be in time shares, the public offering statement shall disclose, in addition to the information required by NRS 116.4103 and 116.41035:

1. The number and identity of units in which time shares may be created;

2. The total number of time shares that may be created;

3. The minimum duration of any time shares that may be created; and

4. The extent to which the creation of time shares will or may affect the enforceability of the association’s lien for assessments provided in NRS 116.3116 and 116.31162.

Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.