NAC119A.370. Sweepstakes, vacation or other gift certificate.

     1. Before a developer advertises or promotes a project with a program which includes the use of a sweepstakes, vacation or other form of a gift certificate, the developer must:

     (a) Provide copies of the vacation or gift certificates and any other published materials to be used in the program;

     (b) Provide the names of the companies with which he or she has contracted to provide the goods or services offered;

     (c) Provide evidence satisfactory to the Division that he or she has firm commitments with the suppliers of goods or services which will be used as part of the program;

     (d) If required by the Administrator, provide proof of financial assurance that he or she can and will honor his or her commitments to the recipients and the suppliers; and

     (e) Comply with the provisions of NRS 598.131 to 598.139, inclusive.

     2. A sweepstakes, vacation or other form of a gift certificate must conform to the standards for advertising that are set forth in this chapter and must:

     (a) Contain a fixed date for the expiration of rights afforded recipients; and

     (b) Disclose the nature of the gift or other benefit. The disclosure must include a description of:

          (1) What the prospective purchaser will actually receive;

          (2) When he or she will receive it;

          (3) His or her obligations, if any;

          (4) All other material conditions or limitations;

          (5) The actual value of the gift or benefit; and

          (6) If the offering constitutes a chance to win a gift or other benefit, the probability of winning conspicuously stated in plain language.

     3. Any change in the expiration date or in the identity of a supplier of goods or services used in the program is a material change in the written plan, and notice of the change must be given to the Division for its written approval before the change becomes effective.

     4. When the developer, real estate licensee or other agent meets with a recipient he or she shall clearly identify himself or herself and his or her status of employment with regard to the project.

     5. The Administrator will schedule an informal meeting to attempt to resolve a question regarding an advertisement or a document as provided in NAC 119A.215.

     (Added to NAC by Real Estate Div., eff. 12-3-84; A 10-23-87; 2-28-90)