NRS 119A.304
Developer to file amended statement of record if material change to time-share plan

  • effectiveness
  • correction of deficiencies
  • amendment to time-share instrument required to be filed with Division
  • approval of amendment by Division.

1.

If there is a material change to the time-share plan, the developer shall file an amended statement of record, and such amended statement of record is effective on the 60th day after the filing or, in the event that units are added to the time-share plan which are in a component site which has not previously been registered with the Division, on the 120th day after the filing, unless the Administrator:

(a)

Issues a denial of the amended statement of record pursuant to NRS 119A.654 in a notice of deficiency describing the reasons for the denial in sufficient detail to allow the developer to correct the deficiencies in the amended statement of record; or

(b)

Approves the amended statement of record on an earlier date.

2.

The developer may submit evidence that the deficiencies in the amended statement of record described in the notice of deficiency issued pursuant to paragraph (a) of subsection 1 have been corrected within 90 days after the developer receives the notice of deficiency or within such extended time period as approved by the Division in writing.

3.

The Administrator shall, within 30 days after receiving evidence that the deficiencies in the amended statement of record are corrected, approve the amended statement of record or issue a denial of the amended statement of record pursuant to NRS 119A.654 in a notice of deficiency describing the reasons for denial. If the Division fails to take any of the actions described in this subsection within the 30-day period, the amended statement of record shall be deemed approved by the Division.

4.

If the developer fails to correct all the deficiencies in the amended statement of record after receipt of a second notice of deficiency pursuant to subsection 3, the Administrator may deny the amended statement of record and require the developer to pay a filing fee equal to one-half of the filing fee for an amendment to a statement of record as set forth in subsection 1 of NRS 119A.360.

5.

Any amendment proposed by the developer to the provisions of a time-share instrument must be filed with the Division. Unless the Division notifies the developer of its disapproval within 15 days after the developer files the proposed amendment to the time-share instrument, the amendment shall be deemed to be approved by the Division.

Source: Section 119A.304 — Developer to file amended statement of record if material change to time-share plan; effectiveness; correction of deficiencies; amendment to time-share instrument required to be filed with Division; approval of amendment by Division., https://www.­leg.­state.­nv.­us/NRS/NRS-119A.­html#NRS119ASec304.

119A.210
Sales agents: Qualifications 119A.212
Sales agents: Application for renewal of license to include information relating to state business license 119A.220
Sales agents: Association with project broker. 119A.230
Sales agents: Disciplinary actions. 119A.233
Provisional sales agents: Qualifications 119A.235
Provisional sales agents: Expiration of licenses 119A.237
Provisional sales agents: Restrictions 119A.240
Representatives: Qualifications for registration. 119A.250
Representatives: Expiration, renewal, reinstatement and transfer of registration. 119A.255
Representatives: Application for renewal of registration to include information relating to state business license 119A.260
Representatives: Prohibited acts 119A.263
Payment of child support: Statement by applicant for sales agent’s license or registration as representative or manager 119A.266
Suspension of sales agent’s license or registration as representative or manager for failure to pay child support or comply with certain subpoenas or warrants 119A.268
Branch offices. 119A.270
Developers: Prohibited acts. 119A.280
Developers: Order to cease 119A.285
Developers: Inapplicability of certain provisions to offer or disposition of certain time shares. 119A.290
Preliminary permits. 119A.300
Requirements for issuance of initial permit. 119A.302
Abbreviated registration: Requirements 119A.304
Developer to file amended statement of record if material change to time-share plan 119A.305
Terms and conditions of supporting documents: Description in public offering statement 119A.307
Filing of public offering statement 119A.310
Grounds for denial of permit 119A.320
Period for action on application. 119A.330
Hearing on denial of application, amendment to statement of record or renewal of permit 119A.340
Issuance of permit before completion of project. 119A.350
Investigation of applicants 119A.355
Renewal of permit. 119A.357
Requirement to notify Division in writing of certain convictions. 119A.358
Creation and maintenance of website through which licenses, permits or registrations may be renewed 119A.360
Fees. 119A.365
Disciplinary action for failure to pay money to Division.
Last Updated

Feb. 5, 2021

§ 119A.304’s source at nv​.us