119A.524 - Reserved rights of developer. - Nevada Statutes

119A.524  Reserved rights of developer.  A developer’s reserved rights may include, without limitation, the right to:

      1.  Add units or real estate to, and withdraw units or real estate from, a time-share plan.

      2.  Create units, a common area or a limited common area within the project.

      3.  Subdivide units or convert units into a common area.

      4.  Make and complete improvements to the project.

      5.  Maintain sales offices, management offices and signs for advertising the time-share plan, project and models.

      6.  Enter into a subsidy agreement with the association in lieu of paying the assessments allocated to the time shares owned by the developer.

      7.  Provide for the establishment of a master association, as defined in NRS 116.063.

      8.  Merge or consolidate a time-share plan with another time-share plan which has the same form of ownership.

      9.  Relocate boundaries between adjoining units in accordance with the provisions of this chapter.

      (Added to NRS by 2001, 2497)