Nevada Administrative Code
Chapter 119A - TIME SHARES
MANAGEMENT OF TIME-SHARE PROJECT
Section 119A.450 - Form for registration as manager

Universal Citation: NV Admin Code 119A.450

Current through December 12, 2024

1. A form for registration submitted pursuant to NRS 119A.532 by a person who wishes to engage in the business of, act in the capacity of, advertise or assume to act as a manager of a project located in this State must be:

(a) Completed personally by the person who wishes to register. A member of the Commission or employee of the Division may not prepare a form for registration on behalf of a person who wishes to register.

(b) Accompanied by the fees prescribed by the Division.

(c) Except as otherwise provided in subsection 3, accompanied by satisfactory evidence, acceptable to the Division, that the person who wishes to register and his or her employees have obtained fidelity bonds, insurance policies or cash deposits deemed comparable by the Division for the benefit of the association or, if there is no association, the owners.

2. A separate form for registration must be filed for each agreement to manage a time-share plan or project.

3. A person who has not entered into an agreement to manage a time-share plan or a project, but who files a form for registration for the purpose of advertising, soliciting or otherwise offering his or her management services in this State, must indicate this purpose on the form in the space provided for the registered name of the time-share plan or the project, or both. Within 30 days after entering into an agreement to manage a time-share plan or a project, a person who has registered pursuant to this subsection must:

(a) File a separate form for registration that indicates the registered name of the time-share plan or the project, or both; and

(b) Submit satisfactory evidence, acceptable to the Division, that he or she has complied with the provisions of paragraph (c) of subsection 1.

Added to NAC by Real Estate Div. by R135-01, eff. 12-13-2001; A by R130-16A, eff. 11/13/2017; A by R130-16AP, eff. 8/30/2018

NRS 119A.190

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