Nevada § 119A.300 Requirements for issuance of initial permit

Nevada Statutes

§ 119A.300 — Requirements for issuance of initial permit

Nevada § 119A.300

Title 10PROPERTY RIGHTS AND TRANSACTIONS

Ch. 119ATime

LICENSES AND PERMITS

This text of Nevada § 119A.300 (Requirements for issuance of initial permit) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 119A.300 (2026).

Text

Except as otherwise provided in NRS 119A.310, the Administrator shall issue an initial permit to sell time shares to each applicant who: 1. Files by electronic means or in any other manner prescribed by the Administrator, a statement of record which includes:

(a)The name and address of the project broker;

(b)A copy of each time-share instrument that relates to the time-share plan;

(c)A preliminary title report for the project issued within 30 days before submission of the application and copies of the documents listed as exceptions in the report;

(d)Copies of any other documents which relate to the time-share plan or the project, including any contract, agreement or other document to be used to establish and maintain an association and to provide for the management of the time-share pl

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Except as otherwise provided in NRS 119A.310, the Administrator shall issue an initial permit to sell time shares to each applicant who:
1. Files by electronic means or in any other manner prescribed by the Administrator, a statement of record which includes:
(a) The name and address of the project broker;
(b) A copy of each time-share instrument that relates to the time-share plan;
(c) A preliminary title report for the project issued within 30 days before submission of the application and copies of the documents listed as exceptions in the report;
(d) Copies of any other documents which relate to the time-share plan or the project, including any contract, agreement or other document to be used to establish and maintain an association and to provide for the management of the time-share plan or the project, or both;
(e) Copies of instructions for escrow, deeds, sales contracts and any other documents that will be used in the sale of the time shares;
(f) A copy of any proposed trust agreement which establishes a trust for the time-share plan or the project, or both;
(g) Documents which show the current assessments for property taxes on the project;
(h) Documents which show compliance with local zoning laws;
(i) If the units which are the subject of the time-share plan are in a condominium project, or other form of common-interest ownership of property, documents which show that use of the units is in compliance with the documents which created the common-interest ownership;
(j) Copies of all documents which will be given to a purchaser who is interested in participating in a program for the exchange of occupancy rights among owners and copies of the documents which show acceptance of the time-share plan in such a program;
(k) A copy of the budget or a projection of the operating expenses of the association, if applicable;
(l) For a points-based time-share plan, a copy of the current point-value use directory and the rules and procedures for changes by the developer or the association to the manner in which point values may be used;
(m) A financial statement of the developer; and
(n) The public offering statement described in NRS 119A.307 in a form prescribed by regulation of the Division;
2. Pays the fee for an initial permit provided for in NRS 119A.360 ; and
3. Corrects any deficiencies in the application, including, without limitation, any deficiencies in the public offering statement.