share that was previously sold to a purchaser.

as a time share resale broker pursuant to the provisions of this chapter.

owner and a person who resells a time share must:

(a) Be in writing; and

(b) Contain a disclosure that sets forth:

(1) Whether any person other than the purchaser may use the time

share during the period before the time share is resold;

(2) Whether any person other than the purchaser may rent the use

of the time share during the period before the time share is resold;

(3) The name of any person who will receive any rents or profits

generated from the use of the time share during the period before the

time share is resold; and

(4) A detailed description of any relationship between the person

who resells the time share and any other person who receives any benefit

from the use of the time share.

2. A person who resells a time share shall provide a fully executed

copy of the written agreement described in subsection 1 to the owner on

the date that the owner signs the agreement.

3. A person who resells a time share shall make the disclosures

required pursuant to paragraph (b) of subsection 1 before accepting

anything of value from the owner.

share that is offered for resale, the person who is reselling the time share

shall disclose by a written document separate from the contract to

purchase a time share:

(a) The period during which the purchaser may use the time share

;

(b) A legal description of the interest in the time share;

(c) The earliest date that the prospective purchaser may use the time

share;

(d) The name, address and telephone number of the agent managing

the time-share project;

(e) The place where the documents of formation of the association

and documents governing the time-share project may be obtained;

(f) The amount of the annual assessment of the association of the

time share for the current fiscal year, if any;

(g) Whether all assessments against the time share are paid in full,

and the consequences of failure to pay any assessment;

(h) Whether participation in any program for the exchange of

occupancy rights among time-share owners or with the owners of time

shares in other time-share properties is mandatory; and

(i) Any other information required to be disclosed pursuant to the

regulations adopted by the administrator pursuant to subsection 2.

2. The administrator shall adopt regulations prescribing the form

and contents of the disclosure statement described in this section.

prospective purchasers of, promote or resell 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 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 who 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.

645.324, a time share resale broker who charges or collects an advance

fee shall place 80 percent of that fee into his trust account. If the time

share resale broker closes escrow on the time share resale, he shall be

deemed to have earned the advance fee. If the listing of the time share

expires before the time share resale broker closes escrow on the time

share resale, he must return the money held in the trust account to the

owner of the time share within 10 days after the date of the expiration of

the listing.

1. division.
2. 2. Each advertisement must contain the processing number assigned

1. to it by the division.

1. 3. Each application for the approval of advertising must include:

1. (a) The form and content of advertising to be used;

1. (b) The nature of the offer of gifts or other free benefits to be

1. extended; and

1. (c) The nature of promotional meetings involving any person or act

1. described in NRS 119A.300.

4. The division shall render a decision upon an application for the

approval of advertising or an offer for resale within 30 days after the date

the application is filed.