Condominium Hotel Act

Nevada · Condominium Hotel Act · §§ 116B.005 to 116B.920 · 187 sections

Overview

The Condominium Hotel Act governs condominium hotels in Nevada — properties that combine individually owned residential units with a separately owned hotel unit, together with common elements and components shared between them, including leasehold arrangements and buildings converted to that use. It sets the terms on which a declarant creates and offers such a property for sale, working through a recorded declaration and related governing documents that identify each unit, allocate interests among them, and fix each owner's liability for common and shared expenses, including the major components each group is responsible for. It also provides for a unit-owners' association governed by an executive board and assisted by a community manager, and for state oversight through a division and its administrator, a commission, an ombudsman, and hearing panels that resolve complaints between the parties involved.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.

Sections covered

NRS 116B.005Short title
NRS 116B.010Definitions
NRS 116B.015“Administrator” defined
NRS 116B.020“Affiliate of a declarant” defined
NRS 116B.025“Allocated interests” defined
NRS 116B.030“Association” and “unit-owners’ association” defined
NRS 116B.035“Commission” defined
NRS 116B.040“Common elements” defined
NRS 116B.045“Common expenses” defined
NRS 116B.050“Community manager” defined
NRS 116B.055“Complaint” defined
NRS 116B.060“Condominium hotel” defined
NRS 116B.065“Converted building” defined
NRS 116B.070“Dealer” defined
NRS 116B.075“Declarant” defined
NRS 116B.080“Declaration” defined
NRS 116B.085“Developmental rights” defined
NRS 116B.090“Dispose” and “disposition” defined
NRS 116B.095“Division” defined
NRS 116B.100“Executive board” defined
NRS 116B.105“Financial statement” defined
NRS 116B.110“Governing documents” defined
NRS 116B.115“Hearing panel” defined
NRS 116B.120“Hotel unit” defined
NRS 116B.125“Hotel unit owner” defined
NRS 116B.130“Identifying number” defined
NRS 116B.135“Leasehold condominium hotel” defined
NRS 116B.140“Liability for common expenses” defined
NRS 116B.145“Liability for shared expenses” defined
NRS 116B.150“Limited common element” defined
NRS 116B.155“Major component of the common elements” defined
NRS 116B.160“Major component of the hotel unit” defined
NRS 116B.165“Major component of the shared components” defined
NRS 116B.170“Offering” defined
NRS 116B.175“Ombudsman” defined
NRS 116B.180“Party to the complaint” defined
NRS 116B.185“Person” defined
NRS 116B.190“Purchaser” defined
NRS 116B.195“Real estate” defined
NRS 116B.200“Residential unit” defined
NRS 116B.205“Residential unit owner” defined
NRS 116B.210“Security interest” defined
NRS 116B.215“Shared components” defined
NRS 116B.220“Shared expenses” defined
NRS 116B.225“Special declarant’s rights” defined
NRS 116B.230“Time share” defined
NRS 116B.235“Unit” defined
NRS 116B.240“Unit’s owner” defined
NRS 116B.245Provisions of chapter may not be varied by agreement, waived or evaded; exceptions
NRS 116B.250Applicability of local ordinances, regulations and building codes
NRS 116B.255Eminent domain
NRS 116B.260Supplemental general principles of law applicable
NRS 116B.265Provisions of chapter prevail over conflicting provisions governing certain business entities generally
NRS 116B.270Construction against implicit repeal
NRS 116B.275Unconscionable agreement or term of contract
NRS 116B.280Obligation of good faith
NRS 116B.285Remedies to be liberally administered
NRS 116B.287Relation to Electronic Signatures in Global and National Commerce Act
NRS 116B.290Applicability
NRS 116B.295Provisions of governing documents in violation of chapter deemed to conform with chapter by operation of law
NRS 116B.300Notice of changes to governing documents
NRS 116B.305Creation of condominium hotels
NRS 116B.310Hotel unit boundaries
NRS 116B.315Control of hotel units; use of shared components
NRS 116B.320Construction and validity of declaration and bylaws
NRS 116B.325Description of units
NRS 116B.330Contents of declaration
NRS 116B.335Leasehold condominium hotels
NRS 116B.340Allocation of allocated interests
NRS 116B.345Limited common elements
NRS 116B.350Plats
NRS 116B.355Exercise of developmental rights
NRS 116B.360Alterations of units; access to units
NRS 116B.365Monuments as boundaries
NRS 116B.370Relocation of boundaries between adjoining units
NRS 116B.375Subdivision of units
NRS 116B.380Amendment of declaration
NRS 116B.385Termination of condominium hotel
NRS 116B.390Rights of creditors following termination
NRS 116B.395Respective interests of units’ owners following termination
NRS 116B.400Effect of foreclosure or enforcement of lien or encumbrance
NRS 116B.405Rights of secured lenders
NRS 116B.410Merger or consolidation of condominium hotels; reallocation of liability for shared expenses
NRS 116B.415Organization of unit-owners’ association
NRS 116B.420Powers of unit-owners’ association
NRS 116B.425Power of executive board to act on behalf of association; members and officers are fiduciaries; duty of care; application of business-judgment rule and conflict of interest rules; limitations on power
NRS 116B.430Power of executive board to impose fines and other sanctions for violations of governing documents; procedural requirements; continuing violations; collection of past due fines
NRS 116B.435Accounting for fines in books and records of association; prohibition against applying payment for assessment, fee or other charge toward payment of fine; exceptions
NRS 116B.440Period of declarant’s control of association; representation of units’ owners on executive board
NRS 116B.445Election of members of executive board and officers of association; term of office of member of executive board; staggered terms; eligibility to serve on executive board; required disclosures; procedure for conducting elections; certification by member of executive board of understanding of governing documents and provisions of chapter
NRS 116B.450Removal of member of executive board
NRS 116B.455Delivery to association of property held or controlled by declarant; exceptions
NRS 116B.460Delivery to association of additional common elements constructed by declarant or successor declarant
NRS 116B.465Delivery to association of converted shared component reserve deficit
NRS 116B.470Delivery to association of converted common element reserve deficit
NRS 116B.475Transfer of special declarant’s right
NRS 116B.480Liabilities and obligations of person who succeeds to special declarant’s rights
NRS 116B.485Successor not subject to certain claims against or other obligations of transferor of special declarant’s right
NRS 116B.490Bylaws
NRS 116B.495Rules of association
NRS 116B.500Rules of hotel unit owner
NRS 116B.505Limitation on power of hotel unit owner to impose sanctions for violations of rules; exception; procedural requirements
NRS 116B.510Complaint alleging violation by hotel unit owner; acknowledgment; response
NRS 116B.513Notice to units’ owners
NRS 116B.515Upkeep of condominium hotel
NRS 116B.520Meetings of units’ owners; frequency of meetings; calling special meetings or removal elections; requirements concerning notice and agendas; requirements concerning minutes of meetings; right of units’ owners to make audio recordings of meetings; presentation of written report concerning budgets for shared expenses
NRS 116B.525Meetings of executive board; frequency of meetings; requirements concerning notice and agendas; periodic review of certain financial and legal matters at meetings; requirements concerning minutes of meetings; right of units’ owners to make audio recordings of certain meetings
NRS 116B.530Right of units’ owners to speak at certain meetings; limitations on right; limitations on power of executive board to meet in executive session; procedure governing hearings on alleged violations; requirements concerning minutes of certain meetings
NRS 116B.535Right of units’ owners to have certain complaints placed on agenda of meeting of executive board
NRS 116B.540Meetings regarding civil actions; requirements for commencing or ratifying certain civil actions; right of units’ owners to request dismissal of certain civil actions; disclosure of terms and conditions of settlements
NRS 116B.545Quorum; use of Robert’s Rules of Order Newly Revised
NRS 116B.550Voting by units’ owners; use of proxies; voting by lessees of leased units; association prohibited from voting as owner of unit; voting without meeting
NRS 116B.555Tort and contract liability
NRS 116B.560Conveyance or encumbrance of common elements
NRS 116B.565Insurance: General requirements
NRS 116B.570Insurance: Policies
NRS 116B.575Insurance: Repair or replacement of damaged or destroyed portion of condominium hotel
NRS 116B.577Funds of association to be deposited or invested at certain financial institutions
NRS 116B.580Preparation and presentation of financial statements
NRS 116B.585Audit and review of financial statements
NRS 116B.590Assessments for common expenses; funding of adequate reserves; collection of interest on past due assessments; calculation of assessments for particular types of common expenses; notice of meetings regarding assessments for capital improvements
NRS 116B.595Assessments for shared expenses; funding of adequate reserves; collection of interest on past due assessments; payer of shared expenses not entitled to ownership or control; delivery of budget for projected shared expenses
NRS 116B.600Annual distribution to units’ owners of operating and reserve budgets or summaries of such budgets; ratification of budget
NRS 116B.605Study of reserves for common elements; duties of executive board regarding study; person who conducts study required to be registered; contents of study; submission of summary of study to Division
NRS 116B.610Study of reserves for shared components and hotel unit; duties of hotel unit owner regarding study; person who conducts study required to be registered; contents of study
NRS 116B.615Signatures required for withdrawals from reserve account of association; exceptions
NRS 116B.620Fees imposed on associations to pay for costs of administering Office of Ombudsman and Commission; administrative penalties for failure to pay; interest on unpaid fees
NRS 116B.625Registration of associations with Ombudsman
NRS 116B.630Liens against units for assessments
NRS 116B.635Foreclosure of liens: Mailing of notice of delinquent assessment; recording of notice of default and election to sell; period during which unit’s owner may pay lien to avoid foreclosure; limitations on type of lien that may be foreclosed
NRS 116B.640Foreclosure of liens: Mailing of notice of default and election to sell to certain interested persons
NRS 116B.645Foreclosure of liens: Providing notice of time and place of sale; service of notice of sale; contents of notice of sale; proof of service
NRS 116B.650Foreclosure of liens: Procedure for conducting sale; purchase of unit by association or hotel unit owner; execution and delivery of deed; use of proceeds of sale
NRS 116B.655Foreclosure of liens: Effect of recitals in deed; purchaser not responsible for proper application of purchase money; title vested in purchaser without equity or right of redemption
NRS 116B.660Foreclosure of liens: Requests by interested persons for notice of default and election to sell; right of association or hotel unit owner to waive default and withdraw notice or proceeding to foreclose
NRS 116B.665Liens against association
NRS 116B.670Maintenance and availability of books, records and other papers of association: General requirements; provision of copies to units’ owners and Ombudsman; exceptions; general records concerning certain violations; enforcement by Ombudsman; limitations on amount that may be charged to conduct review
NRS 116B.675Maintenance and availability of certain financial records of association; provision of copies to units’ owners and Ombudsman
NRS 116B.680Maintenance and availability of financial records of association; right of units’ owners to inspect, examine, photocopy and audit records of association
NRS 116B.685Maintenance, availability and review of certain financial books and records of hotel unit
NRS 116B.690Retaliatory action prohibited
NRS 116B.695Prohibition against certain personnel soliciting or accepting compensation, gratuity or remuneration under certain circumstances
NRS 116B.700Prohibition against certain personnel contracting with association or accepting commission, personal profit or compensation from association; exceptions
NRS 116B.705Association as trustee
NRS 116B.710Right of units’ owners to display flag of the United States in certain areas; conditions and limitations on exercise of right
NRS 116B.715Right of units’ owners to exhibit political signs in certain areas; conditions and limitations on exercise of right
NRS 116B.720Association prohibited from requiring unit’s owner to obtain approval to rent or lease unit; exceptions
NRS 116B.725Applicability; exceptions
NRS 116B.730Liability for preparation and delivery of public offering statement
NRS 116B.735Public offering statement: General provisions
NRS 116B.740Public offering statement: Condominium hotels subject to developmental rights
NRS 116B.745Public offering statement: Condominium hotel containing converted building
NRS 116B.750Public offering statement: Condominium hotel registered with Securities and Exchange Commission or State of Nevada
NRS 116B.755Purchaser’s right to cancel
NRS 116B.760Resales of units
NRS 116B.765Required form of information statement
NRS 116B.770Escrow of deposits; furnishing of bond in lieu of deposit
NRS 116B.775Release of liens
NRS 116B.780Exclusion or modification of warranties of quality
NRS 116B.785Power of Commission to adopt regulations concerning additional disclosures
NRS 116B.790Effect of violations on rights of action; civil action for damages for failure or refusal to comply with provisions of chapter or governing documents; members of executive board not personally liable to victims of crimes; circumstances under which punitive damages may be awarded; attorney’s fees
NRS 116B.795Substantial completion of units
NRS 116B.800Jurisdiction
NRS 116B.805Administration of chapter; regulations of Commission and Real Estate Administrator; delegation of authority; publications
NRS 116B.810Employment of personnel by Real Estate Division; designation of deputy attorney general by Attorney General; legal opinions and assistance by deputy attorney general
NRS 116B.815Ombudsman for Owners in Common-Interest Communities and Condominium Hotels: Powers and duties
NRS 116B.820Immunity
NRS 116B.825Service of notice and other information upon Commission
NRS 116B.830Authority for Real Estate Division to conduct business electronically; regulations; fees; use of unsworn declaration; exclusions
NRS 116B.835Issuance and enforcement of subpoenas
NRS 116B.840Witnesses: Payment of fees and mileage
NRS 116B.845Conducting hearings and other proceedings; collection of information; development and promotion of educational guidelines; accreditation of programs of education and research
NRS 116B.850Establishment of standards for subsidizing proceedings for mediation, arbitration and program and for subsidizing educational programs; acceptance of gifts, grants and donations; agreements and cooperation with other entities
NRS 116B.855Appointment of hearing panels; delegation of powers and duties; appeals to Commission
NRS 116B.860Use of audio or video teleconference for hearings
NRS 116B.865“Violation” defined
NRS 116B.870Jurisdiction of Real Estate Division, Ombudsman, Commission and hearing panels
NRS 116B.875Rights, remedies and penalties are cumulative and not exclusive; limitations on power of Commission and hearing panels regarding internal activities of association
NRS 116B.880Confidentiality of records: Certain records relating to complaint or investigation deemed confidential; certain records relating to disciplinary action deemed public records
NRS 116B.885Right of person aggrieved by alleged violation to file affidavit with Real Estate Division; procedure for filing affidavit; administrative fine for filing false or fraudulent affidavit
NRS 116B.890Referral of affidavit to Ombudsman for assistance in resolving alleged violation; report by Ombudsman; investigation by Real Estate Division; determination of whether to file complaint with Commission
NRS 116B.895Procedure for hearing complaints: Time for holding hearing; continuances; notices; evidence; answers; defaults
NRS 116B.900Representation by attorney
NRS 116B.905Decisions on complaints
NRS 116B.910Remedial and disciplinary action: Orders to cease and desist and to correct violations; administrative fines; removal from office or position; payment of costs; exemptions from liability
NRS 116B.915Remedial and disciplinary action: Audit of association; appointment of receiver
NRS 116B.920Injunctions

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