NAC116.480. Restriction on and statements by members of executive boards and officers of associations.

     1. No member of an executive board or officer of an association shall receive, in the aggregate, any gift, incentive, gratuity, reward or other item of value pursuant to subsection 2 of NRS 116.31185 in any calendar year which exceeds the sum of $100.

     2. On or before the annual distribution to each unit’s owner of the budgets of the association pursuant to subsection 1 of NRS 116.31151, each member of an executive board and officer of an association shall deliver to the executive board for inclusion in the annual distribution of the budgets a statement of any gifts, incentives, gratuities, rewards or other items of value which exceed $15 received pursuant to subsection 2 of NRS 116.31185.

     (Added to NAC by Comm’n for Common-Interest Communities by R205-05, eff. 9-18-2006)