1. A meeting of the executive board must be held at least once a year.
2. Except in an emergency or unless the bylaws of an association require a longer period of notice, the secretary or other officer specified in the bylaws of the association shall, not less than 30 days before the date of a meeting of the executive board, cause notice of the meeting to be given to the units’ owners. Such notice must be:
(a) Given to the units’ owners in the manner set forth in NRS 116B.513; or
(b) Published in a newsletter or other similar publication that is circulated to each unit’s owner.
3. In an emergency, the secretary or other officer specified in the bylaws of the association shall, if practicable, cause notice of the meeting to be sent prepaid by United States mail to the mailing address of each unit within the condominium hotel. If delivery of the notice in this manner is impracticable, the notice must be hand-delivered to each unit within the condominium hotel or posted in a prominent place or places within the common elements of the association.
4. The notice of a meeting of the executive board must state the time and place of the meeting and include a copy of the agenda for the meeting or the date on which and the locations where copies of the agenda may be conveniently obtained by the units’ owners. The notice must include notification of the right of a unit’s owner to:
(a) Have a copy of the minutes or a summary of the minutes of the meeting provided to the unit’s owner upon request and, if required by the executive board, upon payment to the association of the cost of providing the copy to the unit’s owner.
(b) Speak to the association or executive board, unless the executive board is meeting in executive session.
5. The agenda of the meeting of the executive board must comply with the provisions of subsection 4 of NRS 116B.520. The period required to be devoted to comments by the units’ owners and discussion of those comments must be scheduled for the beginning of each meeting. In an emergency, the executive board may take action on an item which is not listed on the agenda as an item on which action may be taken.
6. At least once every year, unless the declaration or bylaws of the association impose more stringent standards, the executive board shall review, at a minimum, the following financial information at one of its meetings:
(a) A current year-to-date financial statement of the association;
(b) A current year-to-date schedule of revenues and expenses for the operating account and the reserve account, compared to the budget for those accounts;
(c) A current reconciliation of the operating account of the association;
(d) A current reconciliation of the reserve account of the association;
(e) The latest account statements prepared by the financial institutions in which the accounts of the association are maintained; and
(f) The current status of any civil action or claim submitted to arbitration or mediation in which the association is a party.
7. The secretary or other officer specified in the bylaws shall cause minutes to be recorded or otherwise taken at each meeting of the executive board. Not more than 30 days after each such meeting, the secretary or other officer specified in the bylaws shall cause the minutes or a summary of the minutes of the meetings to be made available to the units’ owners. A copy of the minutes or a summary of the minutes must be provided to any unit’s owner upon request and, if required by the executive board, upon payment to the association of the cost of providing the copy to the unit’s owner.
8. Except as otherwise provided in subsection 9 and NRS 116B.530, the minutes of each meeting of the executive board must include:
(a) The date, time and place of the meeting;
(b) The names of those members of the executive board who were present and of those members who were absent at the meeting;
(c) The substance of all matters proposed, discussed or decided at the meeting;
(d) A record of each member’s vote on any matter decided by vote at the meeting; and
(e) The substance of remarks made by any unit’s owner who addresses the executive board at the meeting if the unit’s owner requests that the minutes reflect his or her remarks or, if the unit’s owner has prepared written remarks, a copy of his or her prepared remarks if the unit’s owner submits a copy for inclusion.
9. The executive board may establish reasonable limitations on materials, remarks or other information to be included in the minutes of its meetings.
10. The association shall maintain the minutes of each meeting of the executive board until the condominium hotel is terminated.
11. A unit’s owner may record on audiotape or any other means of sound reproduction a meeting of the executive board, unless the executive board is meeting in executive session, if the unit’s owner, before recording the meeting, provides notice of his or her intent to record the meeting to the members of the executive board and the other units’ owners who are in attendance at the meeting.
12. As used in this section, "emergency" means any occurrence or combination of occurrences that:
(a) Could not have been reasonably foreseen;
(b) Affects the health, welfare and safety of the units’ owners or residents of the condominium hotel;
(c) Requires the immediate attention of, and possible action by, the executive board; and
(d) Makes it impracticable to comply with the provisions of subsection 2 or 5.
(Added to NRS by 2007, 2226; A 2015, 1231)
Structure Nevada Revised Statutes
Chapter 116B - Condominium Hotel Act
NRS 116B.015 - "Administrator" defined.
NRS 116B.020 - "Affiliate of a declarant" defined.
NRS 116B.025 - "Allocated interests" defined.
NRS 116B.030 - "Association" and "unit-owners’ association" defined.
NRS 116B.035 - "Commission" defined.
NRS 116B.040 - "Common elements" defined.
NRS 116B.045 - "Common expenses" defined.
NRS 116B.050 - "Community manager" defined.
NRS 116B.055 - "Complaint" defined.
NRS 116B.060 - "Condominium hotel" defined.
NRS 116B.065 - "Converted building" defined.
NRS 116B.070 - "Dealer" defined.
NRS 116B.075 - "Declarant" defined.
NRS 116B.080 - "Declaration" defined.
NRS 116B.085 - "Developmental rights" defined.
NRS 116B.090 - "Dispose" and "disposition" defined.
NRS 116B.095 - "Division" defined.
NRS 116B.100 - "Executive board" defined.
NRS 116B.105 - "Financial statement" defined.
NRS 116B.110 - "Governing documents" defined.
NRS 116B.115 - "Hearing panel" defined.
NRS 116B.120 - "Hotel unit" defined.
NRS 116B.125 - "Hotel unit owner" defined.
NRS 116B.130 - "Identifying number" defined.
NRS 116B.135 - "Leasehold condominium hotel" defined.
NRS 116B.140 - "Liability for common expenses" defined.
NRS 116B.145 - "Liability for shared expenses" defined.
NRS 116B.150 - "Limited common element" defined.
NRS 116B.155 - "Major component of the common elements" defined.
NRS 116B.160 - "Major component of the hotel unit" defined.
NRS 116B.165 - "Major component of the shared components" defined.
NRS 116B.170 - "Offering" defined.
NRS 116B.175 - "Ombudsman" defined.
NRS 116B.180 - "Party to the complaint" defined.
NRS 116B.185 - "Person" defined.
NRS 116B.190 - "Purchaser" defined.
NRS 116B.195 - "Real estate" defined.
NRS 116B.200 - "Residential unit" defined.
NRS 116B.205 - "Residential unit owner" defined.
NRS 116B.210 - "Security interest" defined.
NRS 116B.215 - "Shared components" defined.
NRS 116B.220 - "Shared expenses" defined.
NRS 116B.225 - "Special declarant’s rights" defined.
NRS 116B.230 - "Time share" defined.
NRS 116B.235 - "Unit" defined.
NRS 116B.240 - "Unit’s owner" defined.
NRS 116B.245 - Provisions of chapter may not be varied by agreement, waived or evaded; exceptions.
NRS 116B.250 - Applicability of local ordinances, regulations and building codes.
NRS 116B.255 - Eminent domain.
NRS 116B.260 - Supplemental general principles of law applicable.
NRS 116B.270 - Construction against implicit repeal.
NRS 116B.275 - Unconscionable agreement or term of contract.
NRS 116B.280 - Obligation of good faith.
NRS 116B.285 - Remedies to be liberally administered.
NRS 116B.287 - Relation to Electronic Signatures in Global and National Commerce Act.
NRS 116B.300 - Notice of changes to governing documents.
NRS 116B.305 - Creation of condominium hotels.
NRS 116B.310 - Hotel unit boundaries.
NRS 116B.315 - Control of hotel units; use of shared components.
NRS 116B.320 - Construction and validity of declaration and bylaws.
NRS 116B.325 - Description of units.
NRS 116B.330 - Contents of declaration.
NRS 116B.335 - Leasehold condominium hotels.
NRS 116B.340 - Allocation of allocated interests.
NRS 116B.345 - Limited common elements.
NRS 116B.355 - Exercise of developmental rights.
NRS 116B.360 - Alterations of units; access to units.
NRS 116B.365 - Monuments as boundaries.
NRS 116B.370 - Relocation of boundaries between adjoining units.
NRS 116B.375 - Subdivision of units.
NRS 116B.380 - Amendment of declaration.
NRS 116B.385 - Termination of condominium hotel.
NRS 116B.390 - Rights of creditors following termination.
NRS 116B.395 - Respective interests of units’ owners following termination.
NRS 116B.400 - Effect of foreclosure or enforcement of lien or encumbrance.
NRS 116B.405 - Rights of secured lenders.
NRS 116B.415 - Organization of unit-owners’ association.
NRS 116B.420 - Powers of unit-owners’ association.
NRS 116B.450 - Removal of member of executive board.
NRS 116B.455 - Delivery to association of property held or controlled by declarant; exceptions.
NRS 116B.465 - Delivery to association of converted shared component reserve deficit.
NRS 116B.470 - Delivery to association of converted common element reserve deficit.
NRS 116B.475 - Transfer of special declarant’s right.
NRS 116B.480 - Liabilities and obligations of person who succeeds to special declarant’s rights.
NRS 116B.495 - Rules of association.
NRS 116B.500 - Rules of hotel unit owner.
NRS 116B.510 - Complaint alleging violation by hotel unit owner; acknowledgment; response.
NRS 116B.513 - Notice to units’ owners.
NRS 116B.515 - Upkeep of condominium hotel.
NRS 116B.545 - Quorum; use of Robert’s Rules of Order Newly Revised.
NRS 116B.555 - Tort and contract liability.
NRS 116B.560 - Conveyance or encumbrance of common elements.
NRS 116B.565 - Insurance: General requirements.
NRS 116B.570 - Insurance: Policies.
NRS 116B.577 - Funds of association to be deposited or invested at certain financial institutions.
NRS 116B.580 - Preparation and presentation of financial statements.
NRS 116B.585 - Audit and review of financial statements.
NRS 116B.615 - Signatures required for withdrawals from reserve account of association.
NRS 116B.625 - Registration of associations with Ombudsman.
NRS 116B.630 - Liens against units for assessments.
NRS 116B.665 - Liens against association.
NRS 116B.690 - Retaliatory action prohibited.
NRS 116B.705 - Association as trustee.
NRS 116B.725 - Applicability; exceptions.
NRS 116B.730 - Liability for preparation and delivery of public offering statement.
NRS 116B.735 - Public offering statement: General provisions.
NRS 116B.740 - Public offering statement: Condominium hotels subject to developmental rights.
NRS 116B.745 - Public offering statement: Condominium hotel containing converted building.
NRS 116B.755 - Purchaser’s right to cancel.
NRS 116B.760 - Resales of units.
NRS 116B.765 - Required form of information statement.
NRS 116B.770 - Escrow of deposits; furnishing of bond in lieu of deposit.
NRS 116B.775 - Release of liens.
NRS 116B.780 - Exclusion or modification of warranties of quality.
NRS 116B.785 - Power of Commission to adopt regulations concerning additional disclosures.
NRS 116B.795 - Substantial completion of units.
NRS 116B.825 - Service of notice and other information upon Commission.
NRS 116B.835 - Issuance and enforcement of subpoenas.
NRS 116B.840 - Witnesses: Payment of fees and mileage.
NRS 116B.860 - Use of audio or video teleconference for hearings.
NRS 116B.865 - "Violation" defined.
NRS 116B.870 - Jurisdiction of Real Estate Division, Ombudsman, Commission and hearing panels.
NRS 116B.900 - Representation by attorney.
NRS 116B.905 - Decisions on complaints.
NRS 116B.915 - Remedial and disciplinary action: Audit of association; appointment of receiver.