NAC119.400. General requirements.

     1. All unapproved advertising of a subdivision and all previously approved advertising which has been modified in any way must be submitted to and approved by the Division before being used. A subdivision which is not exempted by chapter 119 of NRS or these regulations may not be advertised for sale until the advertising is approved in writing by the Division. The Division will render a decision on the advertising within 60 days from the date it is submitted to the Division in final form.

     2. Advertising must be submitted by the developer or his or her employee or agent. If an employee or agent of the developer is to submit the advertising, the developer must notify the Division in writing that the employee has the authority to submit advertising and to agree to changes which may be required. The Division will not deal directly with an advertiser who is not so authorized by the developer.

     3. When the Division approves an item of advertising, an approval number will be issued. The approval number and the developer’s name must appear on the approved item and must be visible or audible to the intended audience when it is published or circulated, unless the Division specifically provides otherwise.

     4. A bona fide press release is exempted from these regulations and need not be submitted to the Division for approval, and no advertising fee will be charged for it, if it:

     (a) Is intended for publication without payment of any consideration; and

     (b) Does not contain statements about:

          (1) The sales volume of the subdivision;

          (2) The financial status of the developer; or

          (3) The nature of the subdivision or its investment potential.

     [Dep’t of Commerce, Real Estate Div., § 41, eff. 7-16-80]—(NAC A 12-19-89)