Nevada Administrative Code
Chapter 116 - Common-Interest Ownership
MANAGEMENT OF COMMON-INTEREST COMMUNITIES
Unit-Owners' Associations
Section 116.395 - Executive board: Fiduciary duty with respect to institutions holding money of association
Universal Citation: NV Admin Code 116.395
Current through December 12, 2024
The executive board has a fiduciary duty to ensure that any institution which holds money of the association:
1. Is authorized to do business in the State of Nevada; or
2. Has consented to the jurisdiction of the courts of this State.
Added by Comm'n for Common-Interest Communities & Condo. Hotels by R145-06, eff. 4-17-2008
NRS 116.3103, 116.615
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