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

NAC119A.220. Trusts.

Latest version.

If a trust is used to satisfy the requirements of subsection 2 of NRS 119A.430:

1. The trust must be established pursuant to an agreement approved by the Administrator; and

2. The trustee must be the party executing the sales contract as seller and is accountable for all unsold units and interests in the project.

(Added to NAC by Real Estate Div., eff. 12-3-84)

                    
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