Verbatim from the public record. The law itself is a government work — always confirm the current version on the official source before you rely on it.
����� 1. A unit-owners� association must be
organized no later than the date the first unit in the common-interest
community is conveyed.
����� 2. The membership of the association at
all times consists exclusively of all units� owners or, following termination
of the common-interest community, of all owners of former units entitled to
distributions of proceeds under NRS
116.2118 , 116.21183 and 116.21185 , or their heirs, successors or
assigns.
����� 3. Except for a residential planned
community containing not more than 12 units, the association must have an
executive board.
����� 4. The association must:
����� (a) Be organized as a profit or nonprofit
corporation, association, limited-liability company, trust, partnership or any
other form of organization authorized by the law of this State;
����� (b) Include in its articles of incorporation,
articles of association, articles of organization, certificate of registration,
certificate of limited partnership, certificate of trust or other documents of
organization, or any amendment thereof, that the purpose of the corporation,
association, limited-liability company, trust or partnership is to operate as
an association pursuant to this chapter;
����� (c) Contain in its name the words
�common-interest community,� �community association,� �master association,�
�homeowners� association� or �unit-owners� association�; and
����� (d) Comply with the applicable provisions of chapters 78 , 81 ,
82 , 86 , 87 , 87A , 88 and 88A of
NRS when filing with the Secretary of State its articles of incorporation,
articles of association, articles of organization, certificate of registration,
certificate of limited partnership, certificate of trust or other documents of
organization, or any amendment thereof.