§ 116B.695 — Prohibition against certain personnel soliciting or accepting compensation, gratuity or remuneration under certain circumstances

Nevada § 116B.695

• Jurisdiction: Nevada
• Title 10: PROPERTY RIGHTS AND TRANSACTIONS
• Ch. 116B: Condominium

Text

1. Except as otherwise provided in subsection 2, a member of an executive board, an officer of an association or a community manager shall not solicit or accept any form of compensation, gratuity or other remuneration that:
(a) Would improperly influence or would appear to a reasonable person to improperly influence the decisions made by those persons; or
(b) Would result or would appear to a reasonable person to result in a conflict of interest for those persons.
2. Notwithstanding the provisions of subsection 1, a member of an executive board, an officer of an association or a community manager shall not accept, directly or indirectly, any gifts, incentives, gratuities, rewards or other items of value from:
(a) An attorney, law firm or vendor, or any person working directly or indirectly for the attorney, law firm or vendor, which total more than the amount established by the Commission by regulation, not to exceed $100 per year per such attorney, law firm or vendor; or
(b) A declarant, an affiliate of a declarant or any person responsible for the construction of the applicable condominium hotel or association which total more than the amount established by the Commission by regulation, not to exceed $100 per year per such declarant, affiliate or person.
3. An attorney, law firm or vendor, or any person working directly or indirectly for the attorney, law firm or vendor, shall not provide, directly or indirectly, any gifts, incentives, gratuities, rewards or other items of value to a member of the executive board or an officer of the association, the community manager or any person working for the community manager which total more than the amount established by the Commission by regulation, not to exceed $100 per year per such member, officer, community manager or person.
4. A declarant, an affiliate of a declarant or any person responsible for the construction of a condominium hotel or association shall not provide, directly or indirectly, any gifts, incentives, gratuities, rewards or other items of value to a member of the executive board or an officer of the association, the community manager or any person working for the community manager which total more than the amount established by the Commission by regulation, not to exceed $100 per year per such member, officer, community manager or person.
5. In addition to the limitations set forth in subsection 1, a community manager shall not solicit or accept any form of compensation, fee or other remuneration that is based, in whole or in part, on:
(a) The number or amount of fines imposed against or collected from units’ owners or tenants or guests of units’ owners pursuant to this chapter for violations of the governing documents of the association; or
(b) Any percentage or proportion of those fines.
6. The provisions of this section do not prohibit a community manager from being paid compensation, a fee or other remuneration under the terms of a contract between the community manager and an association if:
(a) The scope of the respective rights, duties and obligations of the parties under the contract comply with the standards of practice for community managers set forth in NRS 116A.630 and 116A.640 and any additional standards of practice adopted by the Commission by regulation pursuant to NRS 116A.400 ;
(b) The compensation, fee or other remuneration is being paid to the community manager for providing management of the association of the condominium hotel; and
(c) The compensation, fee or other remuneration is not structured in a way that would violate the provisions of subsection 1 or 5.

Legislative History

(Added to NRS by 2007, 2246 ; A 2009, 2818 )