Any person who receives fees from a purchaser of a condominium for the maintenance of the project shall:
1. Immediately deposit the money in a separate custodial account maintained by the person with some bank, credit union or recognized depositary in this State.
2. Keep records of all such money deposited therein.
(Added to NRS by 1965, 1219; A 1999, 1457)
Structure Nevada Revised Statutes
NRS 117.020 - Applicability; recordation, amendment and revocation of plan of project.
NRS 117.030 - Conveyance of unit: Presumption of conveyance of entire condominium.
NRS 117.040 - Incidents of grant.
NRS 117.050 - Partition of project.
NRS 117.060 - Declaration of restrictions.
NRS 117.065 - Maintenance fees: Custodial accounts; records.
NRS 117.075 - Assessment liens: Exercise of power of sale.
NRS 117.090 - Common personalty.
NRS 117.100 - Liberal construction of deed, declaration or plan for project.
NRS 117.103 - Rules against perpetuities and unreasonable restraints on alienation.