NAC119A.245. Project brokers.

     1. Before a broker may accept the position as project broker, he or she must make a personal inspection of the project for which he or she is to be responsible.

     2. The project broker shall:

     (a) Obtain from each purchaser of a time share in the project a receipt for a copy of the public offering statement signed by the purchaser and selling agent;

     (b) Keep the receipt with a copy of any contract of sale or other sales agreement and other material in the files at his or her principal place of business;

     (c) Teach his or her salespersons, sales agents and registered representatives the contents of this chapter and chapter 119A of NRS and exercise strict supervision over their activities and over the operation of his or her business; and

     (d) Accept from the Division service of any notice, communication, correspondence or complaint on behalf of the developer or the project.

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