NRS 116.310395
Delivery to association of converted building reserve deficit.

1.

At the time of each close of escrow of a unit in a converted building, the declarant shall deliver to the association the amount of the converted building reserve deficit allocated to that unit.

2.

The allocation to a unit of the amount of any converted building reserve deficit must be made in the same manner as assessments are allocated to that unit.

3.

As used in this section, “converted building reserve deficit” means the amount necessary to replace the major components of the common elements needing replacement within 10 years after the date of the first close of escrow of a unit.

Source: Section 116.310395 — Delivery to association of converted building reserve deficit., https://www.­leg.­state.­nv.­us/NRS/NRS-116.­html#NRS116Sec310395.

116.3101
Organization of unit-owners’ association. 116.3102
Powers of unit-owners’ association 116.3103
Power of executive board to act on behalf of association 116.3104
Transfer of special declarant’s right. 116.3105
Termination of contracts and leases of declarant. 116.3106
Bylaws. 116.3107
Upkeep of common-interest community. 116.31031
Power of executive board to impose fines and other sanctions for violations of governing documents 116.31032
Period of declarant’s control of association 116.31034
Election of members of executive board and officers of association 116.31035
Publications containing mention of candidate or ballot question: Requirements 116.31036
Removal of member of executive board. 116.31037
Indemnification and defense of member of executive board. 116.31038
Delivery to association of property held or controlled by declarant. 116.31039
Delivery to association of additional common elements constructed by declarant or successor declarant. 116.31043
Liabilities and obligations of person who succeeds to special declarant’s rights. 116.31046
Successor not subject to certain claims against or other obligations of transferor of special declarant’s right. 116.31065
Rules. 116.31068
Notice to units’ owners. 116.31073
Maintenance, repair, restoration and replacement of security walls. 116.310305
Power of executive board to impose construction penalties for failure of unit’s owner to adhere to certain schedules relating to design, construction, occupancy or use of unit or improvement. 116.310312
Power of executive board to enter grounds of unit to conduct certain maintenance or remove or abate public nuisance or to enter grounds or interior of unit to abate water or sewage leak or take other action 116.310313
Collection of past due obligation 116.310315
Accounting for fines imposed by association. 116.310395
Delivery to association of converted building reserve deficit.
Last Updated

Jun. 24, 2021

§ 116.310395’s source at nv​.us