Assembly Amendment to Senate Bill No. 121 First Reprint (BDR 10-610)
Proposed by: Committee on Judiciary
Amendment Box:
Amends: Summary: Title: Preamble: Joint Sponsorship:
ASSEMBLY ACTION
Initial and Date | SENATE ACTION Initial and DateAdopted Lost | Adopted Lost
Concurred In Not | Concurred In Not
Receded Not | Receded Not
Amend the bill as a whole by deleting sections 1 through 3, renumbering sections 4 through 6 as sections 2 through 4 and adding a new section designated section 1, following the enacting clause, to read as follows:
"Section 1. Chapter 113 of NRS is hereby amended by adding thereto a new section to read as follows:
1. Except as otherwise provided in subsection 3, in a county whose population is 400,000 or more, a seller may not sign a sales agreement with the initial purchaser of a residence unless the seller, at least 24 hours before the time of the signing, provides the initial purchaser with a disclosure document that contains:
(a) A copy of the most recent gaming enterprise district map that has been made available for public inspection pursuant to NRS 463.309 by the city or town in which the residence is located or, if the residence is not located in a city or town, by the county in which the residence is located; and
(b) The location of the gaming enterprise district that is nearest to the residence, regardless of the jurisdiction in which the nearest gaming enterprise district is located.
The seller shall retain a copy of the disclosure document that has been signed by the initial purchaser acknowledging the time and date of receipt by the initial purchaser of the original document.2. The information contained in the disclosure document required by subsection 1 must:
(a) Be updated not less than once every 4 months;
(b) Advise the initial purchaser that gaming enterprise districts are subject to change; and
(c) Provide the initial purchaser with instructions on how to obtain more current information.
3. The initial purchaser of a residence may waive the 24-hour period required by subsection 1 if the seller provides the initial purchaser with the information required by subsections 1 and 2 and the initial purchaser signs a written waiver. The seller shall retain a copy of the written waiver that has been signed by the initial purchaser acknowledging the time and date of receipt by the initial purchaser of the original document.
4. As used in this section, "seller" has the meaning ascribed to it in NRS 113.070.
".Amend sec. 4, page 4, by deleting lines 1 through 6 and inserting:
"6. As used in this section, "seller" means a person who sells or attempts to sell any land or tract of land in this state which is divided or proposed to be divided over any period into two or more lots, parcels, units or interests, including, but not limited to, undivided interests, which are offered, known, designated or advertised as a common unit by a common name or as a part of a common promotional plan of advertising and sale.".