NRS 116B.020
“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 the 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 116B.020 — “Affiliate of a declarant” defined., https://www.­leg.­state.­nv.­us/NRS/NRS-116B.­html#NRS116BSec020.

116B.005
Short title. 116B.010
Definitions. 116B.015
“Administrator” defined. 116B.020
“Affiliate of a declarant” defined. 116B.025
“Allocated interests” defined. 116B.030
“Association” and “unit-owners’ association” defined. 116B.035
“Commission” defined. 116B.040
“Common elements” defined. 116B.045
“Common expenses” defined. 116B.050
“Community manager” defined. 116B.055
“Complaint” defined. 116B.060
“Condominium hotel” defined. 116B.065
“Converted building” defined. 116B.070
“Dealer” defined. 116B.075
“Declarant” defined. 116B.080
“Declaration” defined. 116B.085
“Developmental rights” defined. 116B.090
“Dispose” and “disposition” defined. 116B.095
“Division” defined. 116B.100
“Executive board” defined. 116B.105
“Financial statement” defined. 116B.110
“Governing documents” defined. 116B.115
“Hearing panel” defined. 116B.120
“Hotel unit” defined. 116B.125
“Hotel unit owner” defined. 116B.130
“Identifying number” defined. 116B.135
“Leasehold condominium hotel” defined. 116B.140
“Liability for common expenses” defined. 116B.145
“Liability for shared expenses” defined. 116B.150
“Limited common element” defined. 116B.155
“Major component of the common elements” defined. 116B.160
“Major component of the hotel unit” defined. 116B.165
“Major component of the shared components” defined. 116B.170
“Offering” defined. 116B.175
“Ombudsman” defined. 116B.180
“Party to the complaint” defined. 116B.185
“Person” defined. 116B.190
“Purchaser” defined. 116B.195
“Real estate” defined. 116B.200
“Residential unit” defined. 116B.205
“Residential unit owner” defined. 116B.210
“Security interest” defined. 116B.215
“Shared components” defined. 116B.220
“Shared expenses” defined. 116B.225
“Special declarant’s rights” defined. 116B.230
“Time share” defined. 116B.235
“Unit” defined. 116B.240
“Unit’s owner” defined. 116B.245
Provisions of chapter may not be varied by agreement, waived or evaded 116B.250
Applicability of local ordinances, regulations and building codes. 116B.255
Eminent domain. 116B.260
Supplemental general principles of law applicable. 116B.265
Provisions of chapter prevail over conflicting provisions governing certain business entities generally. 116B.270
Construction against implicit repeal. 116B.275
Unconscionable agreement or term of contract. 116B.280
Obligation of good faith. 116B.285
Remedies to be liberally administered. 116B.287
Relation to Electronic Signatures in Global and National Commerce Act.
Last Updated

Jun. 24, 2021

§ 116B.020’s source at nv​.us