Nevada Administrative Code Chapter 119A - TIME SHARES
Here’s an overview of Nevada Administrative Code (NAC) Chapter 119A – Time Shares, which implements Nevada Revised Statutes (NRS) Chapter 119A governing timeshare regulation in the state:
📘 Scope & Structure
NAC Chapter 119A provides detailed regulations across several key areas of timeshare law:
General Provisions – definitions, applicability of real estate laws to timeshares, what qualifies as a timeshare, who is a developer, sales agent, association, etc. (law.justia.com, timeshareexittoday.com)
Licensing & Permits – requirements for developers, sales agents, representatives, resale brokers, managers (including registration, fees, continuing education, fingerprinting, disciplinary actions).
Sale of Time Shares – public offering statements, escrow, deposits, right of cancellation, deeds and trust provisions, conveyance before escrow, misrepresentation rules. (law.justia.com)
Resale of Time Shares – resale-broker licensing, advance-fee disclosure, buyer protections, resale agreements, and required disclosures. (law.justia.com)
Owner Rights & Management – owner rights, creation and operation of associations, developer control, budgets, reserve studies, assessments, liens, insurance requirements, transfers, and relocation rules.
Exchange Programs – rules governing occupancy exchange plans among owners (e.g., timeshare exchange clubs), disclosure requirements to purchasers, the Division, and associations.
Unlawful Acts & Enforcement – illegal acts like deceptive advertising, unauthorized practice, fraudulent schemes, plus processes for inspections, hearings, disciplinary actions, fines, license suspensions, appeals, confidentiality, and appointment of receivers.
🔹 Highlight: Public Offering Statements (NAC 119A.205)
Cover sheet requirement – Must state in red: “THE PROSPECTIVE PURCHASER SHOULD READ THIS REPORT BEFORE SIGNING ANY PAPER.” (law.cornell.edu)
Format & approval – Statements must be:
in editable electronic form with font ≥11 pt,
either signed by the Division Administrator or marked “DEEMED APPROVED FOR USE”,
containing original and amendment dates plus permit dates. (law.cornell.edu)
Delivery options – Must initially be offered on paper; if purchaser requests electronic copy, developer must provide a cover sheet, receipt form, cancellation notice, receipt of public offering statement, and an electronic media disclosure form explaining access requirements. (law.cornell.edu)
Record-keeping – Developers must keep a signed receipt and file a sample electronic media copy with the Division. (law.cornell.edu)
🔹 Key Protections Under NRS 119A (Implemented via NAC)
5‑day cancellation – Purchaser has until midnight of the fifth calendar day after signing to cancel; full refund must be issued within 15 days. (timeshareattorney.com)
Advance-fee rules for resales – Brokers must escrow 80% of any advance fee until sale occurs; otherwise, refund 80% if sale doesn't close. (timeshareattorney.com)
Resale broker licensing (NRS 119A.4771–4779) – Resales over 12 units per year require licensing, fee disclosures, contract requirements, and advertising filing. (law.justia.com)
✅ Summary
NAC 119A provides the administrative and procedural framework supporting NRS 119A, ensuring regulated and transparent practices in:
licensing of timeshare developers, agents, and managers,
public offering disclosures and cancellation rights,
escrow management and resale-broker controls,
owner-association governance,
enforcement against unlawful or unfair activities.
If you need the exact text of any section (e.g., cancellation procedures, advertising rules, or enforcement mechanisms) or want to explore a specific topic within the chapter, I can pull the full regulatory language or guide you to it.
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