Nevada Administrative Code (Last Updated: January 6, 2015)

NAC119A.195. Preliminary permit.

Latest version.

If a preliminary permit to sell time shares has been issued by the Administrator, the developer may accept a good faith deposit for a reservation if the document by which the reservation is taken provides for payment to the holder of the reservation of the total deposit plus interest earned, if any, within 15 days of written notice of cancellation of the reservation.

(Added to NAC by Real Estate Div., eff. 12-3-84; A 5-2-86)

                    
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