“Major component of the common elements” means any component of the common elements, including, without limitation, any amenity, improvement, furnishing, fixture, finish, system or equipment, that may, within 30 years after its original installation, require repair, replacement or restoration in excess of routine annual maintenance in the annual operating budget of an association.
NRS 116B.155
“Major component of the common elements” defined
Known as the Condominium Hotel Act
The act spans §§ 116–116 (187 sections).
(Added to NRS by 2007, 2196)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.