2001 REGULAR SESSION (71st)                                                                             A SB261 370

Amendment No. 370

 

 

 

 

     Amend the bill as a whole by adding a new section designated sec. 42.5, following sec. 42, to read as follows:

     “Sec. 42.5. NRS 119A.250 is hereby amended to read as follows:

     119A.250  1.  [All registrations] The registration of a representative issued pursuant to this chapter [expire] expires 1 year after [their] its issuance.

     2.  Each representative who submits the statement required pursuant to NRS 119A.263 and meets the requirements for renewal adopted by the division may renew his registration upon the payment of the annual renewal fee before the expiration of his registration.

     3.  If a representative fails to pay the annual renewal fee before the expiration of his registration, the registration may be reinstated upon the submission of the statement and payment of the reinstatement fee in addition to the annual renewal fee. A registration may be reinstated under this subsection only if the statement is submitted and the fees are paid within 1 year after the registration expires.

     4.  A representative issued a registration shall not change his association to another developer or change his location with the same developer unless he has obtained from the division a transfer of his registration for its unexpired term. An application to the division for the transfer of his registration for the unexpired term must be accompanied by the fee specified in NRS 119A.360 for the transfer of registration.”.

     Amend sec. 44, page 15, line 43, by deleting “[representative]” and inserting “representative or”.

     Amend sec. 44, page 16, line 4, by deleting “[representative]” and inserting “representative or”.

     Amend the bill as a whole by adding a new section designated sec. 44.5, following sec. 44, to read as follows:

     “Sec. 44.5. NRS 119A.263 is hereby amended to read as follows:

SECOND PARALLEL SECTION

     119A.263  1.  An applicant for the issuance or renewal of a sales agent’s license or registration as a [representative or] manager shall submit to the administrator the statement prescribed by the welfare division of the department of human resources pursuant to NRS 425.520. The statement must be completed and signed by the applicant.

     2.  The administrator shall include the statement required pursuant to subsection 1 in:

     (a) The application or any other forms that must be submitted for the issuance or renewal of the license or registration; or

     (b) A separate form prescribed by the administrator.

     3.  A sales agent’s license or registration as a [representative or] manager may not be issued or renewed by the administrator if the applicant:

     (a) Fails to complete or submit the statement required pursuant to subsection 1; or

     (b) Indicates on the statement submitted pursuant to subsection 1 that he is subject to a court order for the support of a child and is not in compliance with the order or a plan approved by the district attorney or other public agency enforcing the order for the repayment of the amount owed pursuant to the order.

     4.  If an applicant indicates on the statement submitted pursuant to subsection 1 that he is subject to a court order for the support of a child and is not in compliance with the order or a plan approved by the district attorney or other public agency enforcing the order for the repayment of the amount owed pursuant to the order, the administrator shall advise the applicant to contact the district attorney or other public agency enforcing the order to determine the actions that the applicant may take to satisfy the arrearage.”.

     Amend sec. 45, page 16, line 26, by deleting “[representative,]” and inserting:

“representative [,] or”.

     Amend sec. 45, page 16, line 35, by deleting “[representative]” and inserting “representative or”.

     Amend the bill as a whole by adding a new section designated sec. 45.5, following sec. 45, to read as follows:

     “Sec. 45.5. NRS 119A.266 is hereby amended to read as follows:

SECOND PARALLEL SECTION

     119A.266  1.  If the administrator receives a copy of a court order issued pursuant to NRS 425.540 that provides for the suspension of all professional, occupational and recreational licenses, certificates and permits issued to a person who has been issued a sales agent’s license or has been registered as a [representative or] manager, the administrator shall deem the license or registration to be suspended at the end of the 30th day after the date on which the court order was issued unless the administrator receives a letter issued to the holder of the license or registration by the district attorney or other public agency pursuant to NRS 425.550 stating that the holder of the license or registration has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560.

     2.  The administrator shall reinstate a sales agent’s license or the registration of a [representative or] manager that has been suspended by a district court pursuant to NRS 425.540 if the administrator receives a letter issued by the district attorney or other public agency pursuant to NRS 425.550 to the person whose license or registration was suspended stating that the person whose license or registration was suspended has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560.”.

     Amend the bill as a whole by adding a new section designated sec. 50.5, following sec. 50, to read as follows:

     “Sec. 50.5. NRS 119A.360 is hereby amended to read as follows:

FIRST PARALLEL SECTION

     119A.360  1.  The division shall collect the following fees at such times and upon such conditions as it may provide by regulation:

 

Application fee for preliminary permit to sell time shares.................................................... $250

Application fee for registration of representative.................................................................... 65

For renewal of registration of representative......................................................................... 65

Application fee for transfer of registration of representative to different
     developer or location...................................................................................................... 20

For reinstatement of registration of representative................................................................. 25

For each permit to sell time shares, per subdivision............................................................. 500

For each amendment to a public offering statement after the issuance
     of the report.................................................................................................................. 100

For renewal of a permit...................................................................................................... 500

 

     2.  Each developer shall pay an additional fee for each time share he sells in a time-share [project] plan over 50 pursuant to the following schedule:

 

                                                                                                                          Amount to be

          Number of time shares                                                                          paid per time share

 

                51-250..................................................................................................... $5.00

              251-500....................................................................................................... 4.00

              501-750....................................................................................................... 3.00

            751-1500....................................................................................................... 2.50

           over 1500....................................................................................................... 1.00

 

     3.  Except for the fees relating to the registration of a representative, the administrator may reduce the fees established by this section if the reduction is equitable in relation to the costs of carrying out the provisions of this chapter.”.

     Amend sec. 51, page 19, line 15, by deleting “[project] plan” and inserting “plan”.

     Amend sec. 53, page 20, line 39, after “administrator,” by inserting:

“that:

     (a) Are”.

     Amend sec. 53, page 20, line 44, by deleting “sale; or” and inserting:

“sale; and

     (b) Provide that any person whose interest in the project could defeat the rights or interests of any purchaser under the time-share instrument or contract of sale takes title to the project subject to the rights of the purchasers; or”.

     Amend sec. 63, page 23, line 49, after “developer.” by inserting:

“Upon the request of the association, the manager shall disclose to the association annual revenue received by the manager from the manager’s affiliation with the time-share plan or the project, or both.”.

     Amend sec. 64, page 24, by deleting lines 25 and 26 and inserting:
     “119A.540  1.  The association or , if there is no association, the developer shall adopt an annual budget for revenues, expenditures and”.

     Amend sec. 64, page 24, by deleting lines 31 and 32 and inserting:

     “2.  The administrator may require that the association [,] or , if there is no association, the developer provide, at the association’s or the developer’s”.

     Amend sec. 64, page 24, line 37, after “received” by inserting:

“by or on behalf of the association”.

     Amend sec. 74, page 30, line 25, by deleting “[Representative] Manager” and inserting “Representative , manager”.

     Amend the bill as a whole by adding a new section designated sec. 74.5, following sec. 74, to read as follows:

     “Sec. 74.5. NRS 119A.680 is hereby amended to read as follows:

SECOND PARALLEL SECTION

     119A.680  1.  It is unlawful for any person to engage in the business of, act in the capacity of, advertise or assume to act as a:

     (a) Project broker or sales agent within the State of Nevada without first obtaining a license from the division pursuant to chapter 645 of NRS or NRS 119A.210.

     (b) [Representative, manager] Manager or time-share resale broker within the State of Nevada without first registering with the division.

     2.  Any person who violates subsection 1 is guilty of a gross misdemeanor.”.

     Amend sec. 79, page 32, by deleting line 15 and inserting:

     “Sec. 79.  1.  NRS 119A.165, 119A.370 and 119A.4773 are hereby repealed.

     2.  NRS 119A.240 and 119A.250”.

     Amend sec. 82, page 32, by deleting lines 24 and 25 and inserting:

     “Sec. 82. 1.  This section and sections 1 to 44, inclusive, 45, 46 to 50.5, inclusive, 52 to 74, inclusive, 75, 76, subsection 1 of section 79, 80 and 81 of this act become effective on October 1, 2001.

     2.  Sections 44.5, 45.5, 51, 74.5, 78 and subsection 2 of section 79 of this act become effective on July 1, 2002.”.

     Amend sec. 82, page 32, line 26, by deleting “2.” and inserting “3.”.