Chapter119A Time Shares  


GENERAL PROVISIONS
NAC 119A.005. Definitions.
NAC 119A.010. “Advertisement” defined.
NAC 119A.015. “Blanket encumbrance” defined.
NAC 119A.020. “Branch office” defined.
NAC 119A.025. “Commission” defined.
NAC 119A.030. “Declaration” defined.
NAC 119A.035. “Director” defined.
NAC 119A.040. “Employment” defined.
NAC 119A.045. “Principal place of business” defined.
NAC 119A.047. “Project instrument” defined.
NAC 119A.050. “Promotional meeting” defined.
NAC 119A.060. “Published material” defined.
NAC 119A.065. “Salesperson” defined.
NAC 119A.070. “Time-share plan” defined.
NAC 119A.073. Check or draft returned for lack of payment.
LICENSING
NAC 119A.075. Sales agent: Application.
NAC 119A.077. Sales agent: Fee for investigation of background of applicant.
NAC 119A.078. Sales agent: Examination required; fee for examination.
NAC 119A.080. Sales agent: Minimum age.
NAC 119A.081. Provisional license: Prerequisites; issuance.
NAC 119A.082. Provisional license: Expiration; termination of employment; denial of application.
NAC 119A.083. Provisional licensee: Restrictions; supervision; commissions.
NAC 119A.085. Sales agent: Grounds for denial of application.
NAC 119A.090. Sales agent: Notice of denial of application; hearing to contest denial.
NAC 119A.095. Sales agent: Invalidation of license.
NAC 119A.100. Branch offices.
NAC 119A.105. Project broker or developer: Commingling of certain money prohibited; maintenance, inspection and audit of records.
NAC 119A.110. Change of status.
NAC 119A.112. Sales agent: Application to transfer license to new location.
NAC 119A.115. Project broker: Explanation of termination of sales agent.
NAC 119A.120. Sales agent: Failure to renew and reinstatement of license.
NAC 119A.125. Project broker: Effect of failure to renew or cancellation, revocation or suspension of license.
NAC 119A.130. Project broker: Duties, refund and transfer of employees upon termination of license.
NAC 119A.135. Failure of sales agent to surrender license: Affidavit showing loss, destruction or theft.
NAC 119A.140. Change of address or employment.
NAC 119A.147. Referral of complaints.
NAC 119A.150. Sales agent: Procedure for revocation or suspension of license.
NAC 119A.160. Hearing: Time and place; record; fees for witnesses; subpoena; participation by Administrator.
NAC 119A.170. Hearing: Procedure.
NAC 119A.175. Rehearing: Procedure.
NAC 119A.180. Hearing: Continuance.
NAC 119A.185. Sales agent: Payment of fees.
TIME-SHARE PERMITS
NAC 119A.190. Procedure for filing for permit or approval.
NAC 119A.195. Preliminary permit.
NAC 119A.200. Application for permit to sell time shares.
NAC 119A.205. Public offering statement.
NAC 119A.210. Material change in plan.
NAC 119A.215. Informal meetings.
NAC 119A.220. Trusts.
NAC 119A.225. Agreement by developer to subsidize costs.
NAC 119A.230. Subordination of interest by holders of certain liens.
STANDARDS AND DUTIES
NAC 119A.240. General obligations.
NAC 119A.245. Project brokers.
NAC 119A.250. Signing contracts; compliance with real estate laws; relationships between licensees.
NAC 119A.255. Contracts and other documents used in sale of project.
NAC 119A.256. Required statement in contract or other instrument used in sale of sampler program.
NAC 119A.258. Escrow accounts for purchasers.
NAC 119A.260. Time-share representatives.
NAC 119A.265. Responsibility of developer and project broker.
NAC 119A.270. Fraudulent or misleading sales techniques or tactics.
NAC 119A.275. Prompt delivery of offers, acceptances and counteroffers.
NAC 119A.280. Sales prohibited if title unmerchantable.
NAC 119A.285. Disclosure of interest.
NAC 119A.290. Complaints.
ADVERTISING
NAC 119A.295. Requirements for advertisement: Submission by developer or agent; changes in item; identification of name of developer; press release.
NAC 119A.300. Fees.
NAC 119A.305. General standards.
NAC 119A.310. Price; predevelopment sale; discount; future price; increase in value.
NAC 119A.315. Easements; improvements; assessment for improvement; taxes.
NAC 119A.320. Reference to community or geographical area.
NAC 119A.325. Potential use of time share.
NAC 119A.330. Reference to facilities away from project.
NAC 119A.335. Use of maps, pictures and sketches.
NAC 119A.340. Misleading use of reprints, testimonials, symbols or names.
NAC 119A.345. Required disclosures.
NAC 119A.350. Reference to right of exchange, resale or repurchase.
NAC 119A.355. Use of certain terms.
PROMOTIONAL MEETINGS AND PROMOTIONS
NAC 119A.360. Approval of promotional meeting.
NAC 119A.365. Standards for sales techniques and tactics.
NAC 119A.370. Sweepstakes, vacation or other gift certificate.
EDUCATION
NAC 119A.375. Evidence of 14 hours of required instruction.
NAC 119A.380. Qualifications for instructors.
NAC 119A.385. Approval of course in continuing education.
NAC 119A.390. Reapproval of courses; withdrawal or denial of approval.
NAC 119A.395. Continuing education: Standards for renewal of license.
NAC 119A.400. Continuing education: Standards for courses.
MANAGEMENT OF TIME-SHARE PROJECT
NAC 119A.450. Form for registration as manager.
NAC 119A.460. Disclosure statement for certain managers.
NAC 119A.470. Qualifications of person to conduct reserve study; consultants.