NRS 119A.180
Classification of interest of purchaser.

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1.

A purchaser shall not be deemed to hold an investment contract, nor shall his or her purchase be considered risk capital, because income derived from the project and any personal property available for use by the purchaser in conjunction therewith reduces the assessment for time-share expenses, if the income inures directly to the benefit of the association and not to his or her direct benefit.

2.

An interest in a time share is not a security under the provisions of chapter 90 of NRS.

Source: Section 119A.180 — Classification of interest of purchaser., https://www.­leg.­state.­nv.­us/NRS/NRS-119A.­html#NRS119ASec180.

119A.010
Definitions. 119A.020
“Administrator” defined. 119A.030
“Affiliate of the developer” defined. 119A.031
“Affiliate of the manager” defined. 119A.032
“Association” defined. 119A.033
“Blanket encumbrance” defined. 119A.034
“Board” defined. 119A.035
“Branch office” defined. 119A.036
“Common area” defined. 119A.038
“Component site” defined. 119A.040
“Developer” defined. 119A.041
“Developer’s reserved rights” defined. 119A.050
“Division” defined. 119A.052
“Limited common area” defined. 119A.054
“Manager” defined. 119A.055
“Material change” defined. 119A.056
“Owner” defined. 119A.058
“Permanent identifying number” defined. 119A.060
“Permit” defined. 119A.070
“Person” defined. 119A.080
“Project” defined. 119A.090
“Project broker” defined. 119A.100
“Public offering statement” defined. 119A.110
“Purchaser” defined. 119A.120
“Representative” defined. 119A.130
“Sales agent” defined. 119A.133
“Sales and marketing entity” defined. 119A.137
“Statement of record” defined. 119A.140
“Time share” defined. 119A.150
“Time-share instrument” defined. 119A.152
“Time-share plan” defined. 119A.153
“Time-share resale” defined. 119A.156
“Time-share resale broker” defined. 119A.160
“Unit” defined. 119A.172
Applicability of provisions relating to real estate brokers and sales agents to certain owners who refer prospective purchasers to developer or association or to employee or agent of developer or association. 119A.174
Applicability of local ordinances, regulations and building codes. 119A.180
Classification of interest of purchaser. 119A.190
Regulations 119A.195
Authority for Division to conduct business electronically 119A.200
Limitation on licensing by local governments.
Last Updated

Feb. 5, 2021

§ 119A.180’s source at nv​.us