Nevada Administrative Code
Chapter 119A - TIME SHARES
PROMOTIONAL MEETINGS AND PROMOTIONS
Section 119A.370 - Sweepstakes, vacation or other gift certificate

Universal Citation: NV Admin Code 119A.370

Current through September 16, 2024

1. Before a developer advertises or promotes a time-share plan with a program which includes the use of a sweepstakes, vacation or other form of a gift certificate, the developer must:

(a) If required by the Administrator, provide proof of financial assurance that he or she can and will honor his or her commitments to the recipients and the suppliers; and

(b) Comply with the provisions of NRS 598.131 to 598.139, inclusive.

2. A sweepstakes, vacation or other form of a gift certificate must conform to the standards for advertising that are set forth in this chapter and must:

(a) Contain a fixed date for the expiration of rights afforded recipients; and

(b) Disclose the nature of the gift or other benefit. The disclosure must include a description of:
(1) What the prospective purchaser will actually receive;

(2) When he or she will receive it;

(3) His or her obligations, if any;

(4) All other material conditions or limitations; and

(5) The actual value of the gift or benefit.

3. When the developer, real estate licensee or other agent meets with a recipient, he or she shall clearly identify himself or herself and his or her status of employment with regard to the time-share plan.

4. The Administrator will schedule an informal meeting to attempt to resolve a question regarding an advertisement or a document as provided in NAC 119A.215.

Added to NAC by Real Estate Div., eff. 12-3-84; A 10-23-87; 2-28-90; A by R130-16A, eff. 11/13/2017; A by R130-16AP, eff. 8/30/2018

NRS 119A.190

Disclaimer: These regulations may not be the most recent version. Nevada may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.