119B.300 - Formation of association of members; incorporation; proxies. - Nevada Statutes

119B.300  Formation of association of members; incorporation; proxies.

      1.  The developer may form an association of the members. The association may be incorporated.

      2.  The state of incorporation may be:

      (a) This state;

      (b) The state in which the campground is located; or

      (c) Any state where the developer has obtained a permit to sell memberships.

      3.  If an association is incorporated, the articles of incorporation or the bylaws must provide for the transfer by the developer to the owners of the control of the association within 120 days after 80 percent of the memberships have been sold.

      4.  Except as provided in NRS 78.355, any proxy which is executed by an owner to an association is valid for an indefinite period if the owner may revoke his or her proxy, by written notice to the association, to vote at a particular meeting.

      (Added to NRS by 1985, 1663)