NAC119A.270. Fraudulent or misleading sales techniques or tactics.

In determining whether a licensee has engaged in a fraudulent or misleading sales technique or tactic, the Commission or hearing officer shall consider whether the licensee has, in connection with the act complained of:

     1. Demonstrated an acceptable level of professional conduct to protect the public against fraud, misrepresentation or unethical practices in the promotion and sale of time shares.

     2. Endeavored to ascertain all the pertinent facts concerning the project with which he or she is dealing.

     3. Made a representation that is outside of his or her field of experience or competence without the assistance of a qualified authority, unless the fact of the lack of experience or competence is fully disclosed to his or her client.

     4. Adequately documented any required disclosure of his or her interest in the project with which he or she is dealing.

     5. Kept himself or herself informed of the current laws and regulations governing the promotion and sale of time shares and related fields in which he or she attempts to provide guidance.

     6. Breached his or her obligation of absolute fidelity to his or her principal’s interest or his or her obligation to deal fairly with all parties to a transaction.

     7. Obtained each change in the terms of the contract for sale and related documents in writing and determined that each change is signed or initialed by the parties concerned.

     8. Understood and properly applied relevant federal and state law relating to protection of potential purchasers.

     9. Demonstrated an acceptable level of professional conduct in seeking to provide all material facts of common or express concern to the parties to the transaction.

     10. Violated any of the provisions of this chapter or chapter 119A of NRS.

     11. Employed oppressive sales tactics or methods as described in this chapter.

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