{"data":{"id":"us-nv/nrs-116.2119","jurisdiction":"us-nv","citation":"NRS 116.2119","heading":"Rights of secured lenders.","body":"The declaration may require that all or a specified number or percentage of the lenders who hold security interests encumbering the units approve specified actions of the units’ owners or the association as a condition to the effectiveness of those actions, but no requirement for approval may operate to:\n1. Deny or delegate control over the general administrative affairs of the association by the units’ owners or the executive board;\n2. Prevent the association or the executive board from commencing, intervening in or settling any litigation or proceeding; or\n3. Prevent any trustee or the association from receiving and distributing any proceeds of insurance except pursuant to NRS 116.31133 and 116.31135.","path":["TITLE 10 — PROPERTY RIGHTS AND TRANSACTIONS","CHAPTER 116 - COMMON-INTEREST OWNERSHIP (UNIFORM ACT)","CREATION, ALTERATION AND TERMINATION OF COMMON-INTEREST COMMUNITIES"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-116.html#NRS116Sec2119","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:32Z","sha256":"a1a17fd848b98f20465021c3ec6a2b606146eba7af8949d45a7d2d7c17448b53","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-116.21188","next":"us-nv/nrs-116.212"},"notice":"GroundRules: Original legal text. Not legal advice."}