NAC119A.240. General obligations.

     1. The project broker shall share with the developer the responsibility for all activities involving advertising, sales, solicitations and the inducement of persons to purchase time shares.

     2. If a developer wishes to use more than one location to conduct sales activities, the project broker shall establish and maintain appropriate branch offices.

     3. A location devoted exclusively to attempting to induce persons to attend a sales presentation for a time-share project which is not located at the developer’s, project broker’s or a sales agent’s regular place of business is not a branch office, although the project broker is responsible for the conduct of such an effort to induce attendance and must inform the Division in advance of his or her proposed establishment or relocation of such an effort.

     4. The project broker is responsible for the activities of each sales agent, salesperson, broker-salesperson and registered representative.

     5. A developer’s records may be inspected and audited by the Division and must be made available to the Division at the location of the records if they are located in Nevada or at the Division’s office in Carson City or Las Vegas, if outside of Nevada.

     6. A developer must produce the records within 10 days of his or her receipt of the Division’s request. Failure to provide the Division with the records will result in suspension of the developer’s sales activities until the records requested are produced.

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