NRS 116.007
“Affiliate of a declarant” defined.

“Affiliate of a declarant” means any person who controls, is controlled by or is under common control with a declarant. For purposes of this section:

1.

A person controls a declarant if the person:

(a)

Is a general partner, officer, director or employer of the declarant;

(b)

Directly or indirectly or acting in concert with one or more other persons, or through one or more subsidiaries, owns, controls, holds with power to vote or holds proxies representing, more than 20 percent of the voting interest in the declarant;

(c)

Controls in any manner the election of a majority of the directors of the declarant; or

(d)

Has contributed more than 20 percent of the capital of the declarant.

2.

A person is controlled by a declarant if the declarant:

(a)

Is a general partner, officer, director or employer of the person;

(b)

Directly or indirectly or acting in concert with one or more other persons, or through one or more subsidiaries, owns, controls, holds with power to vote or holds proxies representing, more than 20 percent of the voting interest in the person;

(c)

Controls in any manner the election of a majority of the directors of the person; or

(d)

Has contributed more than 20 percent of the capital of the person.

3.

Control does not exist if the powers described in this section are held solely as security for an obligation and are not exercised.

Source: Section 116.007 — “Affiliate of a declarant” defined., https://www.­leg.­state.­nv.­us/NRS/NRS-116.­html#NRS116Sec007.

116.001
Short title. 116.003
Definitions. 116.005
“Administrator” defined. 116.007
“Affiliate of a declarant” defined. 116.009
“Allocated interests” defined. 116.011
“Association” and “unit-owners’ association” defined. 116.013
“Certificate” defined. 116.015
“Commission” defined. 116.017
“Common elements” defined. 116.019
“Common expenses” defined. 116.021
“Common-interest community” defined. 116.023
“Community manager” defined. 116.025
“Complaint” defined. 116.027
“Condominium” defined. 116.029
“Converted building” defined. 116.031
“Cooperative” defined. 116.033
“Dealer” defined. 116.035
“Declarant” defined. 116.037
“Declaration” defined. 116.039
“Developmental rights” defined. 116.041
“Dispose” and “disposition” defined. 116.043
“Division” defined. 116.045
“Executive board” defined. 116.047
“Financial statement” defined. 116.049
“Governing documents” defined. 116.051
“Hearing panel” defined. 116.053
“Identifying number” defined. 116.055
“Leasehold common-interest community” defined. 116.057
“Liability for common expenses” defined. 116.059
“Limited common element” defined. 116.061
“Management of a common-interest community” defined. 116.063
“Master association” defined. 116.064
“Nonresidential condominium” defined. 116.065
“Offering” defined. 116.067
“Ombudsman” defined. 116.069
“Party to the complaint” defined. 116.073
“Person” defined. 116.075
“Planned community” defined. 116.077
“Proprietary lease” defined. 116.079
“Purchaser” defined. 116.081
“Real estate” defined. 116.083
“Residential use” defined. 116.085
“Respondent” defined. 116.087
“Security interest” defined. 116.089
“Special declarant’s rights” defined. 116.091
“Time share” defined. 116.093
“Unit” defined. 116.095
“Unit’s owner” defined. 116.0605
“Major component of the common elements” defined. 116.1104
Provisions of chapter may not be varied by agreement, waived or evaded 116.1105
Categorization of property in certain common-interest communities. 116.1106
Applicability of local ordinances, regulations and building codes. 116.1107
Eminent domain. 116.1108
Supplemental general principles of law applicable. 116.1109
Construction against implicit repeal 116.1112
Unconscionable agreement or term of contract. 116.1113
Obligation of good faith. 116.1114
Remedies to be liberally administered. 116.1118
Relation to Electronic Signatures in Global and National Commerce Act. 116.11045
Provisions of chapter do not invalidate or modify tariffs, rules and standards of public utility 116.11085
Provisions of chapter prevail over conflicting provisions governing certain business entities generally.
Last Updated

Jun. 24, 2021

§ 116.007’s source at nv​.us