1. Each owner is a member of the association for the time-share plan. The association may be incorporated.
2. The state of incorporation may be:
(a) This state;
(b) The state in which the project is located; or
(c) Any state where the developer has obtained a permit to sell time shares under statutes which govern the sale of time shares.
3. The association may adopt and amend bylaws, rules and regulations.
4. Except as otherwise provided in NRS 82.321, any proxy which is executed by an owner to an association is valid for an indefinite period if the owner may revoke his or her proxy, by written notice to the association, to vote at a particular meeting.