{"data":{"id":"us-nv/nrs-119a.300","jurisdiction":"us-nv","citation":"NRS 119A.300","heading":"Requirements for issuance of initial permit.","body":"Except as otherwise provided in NRS 119A.310, the Administrator shall issue an initial permit to sell time shares to each applicant who:\n1. Files by electronic means or in any other manner prescribed by the Administrator, a statement of record which includes:\n(a) The name and address of the project broker;\n(b) A copy of each time-share instrument that relates to the time-share plan;\n(c) A preliminary title report for the project issued within 30 days before submission of the application and copies of the documents listed as exceptions in the report;\n(d) Copies of any other documents which relate to the time-share plan or the project, including any contract, agreement or other document to be used to establish and maintain an association and to provide for the management of the time-share plan or the project, or both;\n(e) Copies of instructions for escrow, deeds, sales contracts and any other documents that will be used in the sale of the time shares;\n(f) A copy of any proposed trust agreement which establishes a trust for the time-share plan or the project, or both;\n(g) Documents which show the current assessments for property taxes on the project;\n(h) Documents which show compliance with local zoning laws;\n(i) If the units which are the subject of the time-share plan are in a condominium project, or other form of common-interest ownership of property, documents which show that use of the units is in compliance with the documents which created the common-interest ownership;\n(j) Copies of all documents which will be given to a purchaser who is interested in participating in a program for the exchange of occupancy rights among owners and copies of the documents which show acceptance of the time-share plan in such a program;\n(k) A copy of the budget or a projection of the operating expenses of the association, if applicable;\n(l) For a points-based time-share plan, a copy of the current point-value use directory and the rules and procedures for changes by the developer or the association to the manner in which point values may be used;\n(m) A financial statement of the developer; and\n(n) The public offering statement described in NRS 119A.307 in a form prescribed by regulation of the Division;\n2. Pays the fee for an initial permit provided for in NRS 119A.360; and\n3. Corrects any deficiencies in the application, including, without limitation, any deficiencies in the public offering statement.","path":["TITLE 10 — PROPERTY RIGHTS AND TRANSACTIONS","CHAPTER 119A - TIME SHARES","LICENSES AND PERMITS"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-119A.html#NRS119ASec300","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:32Z","sha256":"d18ddef2a753c900eb31a0bc6d89442dd136c15edef53b88856a877c573e4e3f","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-119a.290","next":"us-nv/nrs-119a.302"},"notice":"GroundRules: Original legal text. Not legal advice."}