119A.4771 - Registration and licensing of person listing, advertising, soliciting or promoting sale of 12 or more previously sold time shares on behalf of owner other than developer; exception.
119A.4771 Registration and licensing of person listing, advertising, soliciting or promoting sale of 12 or more previously sold time shares on behalf of owner other than developer; exception.
1. A person who, on behalf of an owner other than a developer, wishes to list, advertise or promote for resale, or solicit prospective purchasers of, 12 or more time shares that were previously sold must:
(a) Be licensed as a real estate broker pursuant to the provisions of chapter 645 of NRS; and
(b) Register as a time-share resale broker with the Division by completing a form for registration provided by the Division.
2. A time-share resale broker shall renew his or her registration with the Division annually on a form provided by the Division.
3. Unless the method of resales of time shares is made to evade the provisions of this chapter, a person is not required to register as a time-share resale broker if the person:
(a) Has acquired fewer than 12 time shares and later resells or offers to resell one or more of those time shares; or
(b) Is a project broker who resells or offers to resell a time share in a project as an agent for a developer who holds a permit for the project.
(Added to NRS by 1999, 2687; A 2001, 2507)