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. Except as otherwise provided in this
section, the declaration may provide for a period of declarant�s control of the
association, during which a declarant, or persons designated by a declarant,
may appoint and remove the officers of the association and members of the
executive board. A declarant may voluntarily surrender the right to appoint and
remove officers and members of the executive board before termination of that
period and, in that event, the declarant may require, for the duration of the
period of declarant�s control, that specified actions of the association or
executive board, as described in a recorded instrument executed by the declarant,
be approved by the declarant before they become effective. Regardless of the
period provided in the declaration, a period of declarant�s control terminates
no later than the earliest of:
����� (a) For a common-interest community with less
than 1,000 units, 60 days after conveyance of 75 percent of the units that may
be created to units� owners other than a declarant;
����� (b) For a common-interest community with 1,000
units or more, 60 days after conveyance of 90 percent of the units that may be
created to units� owners other than a declarant;
����� (c) If the association exercises powers over a
common-interest community pursuant to this chapter and a time-share plan
pursuant to chapter 119A of NRS, 120 days
after conveyance of 80 percent of the units that may be created to units�
owners other than a declarant;
����� (d) Five years after all declarants have ceased
to offer units for sale in the ordinary course of business;
����� (e) Five years after any right to add new units
was last exercised; or
����� (f) The day the declarant, after giving notice to
units� owners, records an instrument voluntarily surrendering all rights to
control activities of the association.
����� 2. For a common-interest community with:
����� (a) Less than 1,000 units, not later than 60 days
after conveyance of 25 percent of the units that may be created to units�
owners other than a declarant, at least one member and not less than 25 percent
of the members of the executive board must be elected by units� owners other
than the declarant.
����� (b) One thousand units or more, not later than 60
days after conveyance of 15 percent of the units that may be created to units�
owners other than a declarant, at least one member and not less than 25 percent
of the members of the executive board must be elected by units� owners other
than the declarant.
����� 3. Not later than 60 days after conveyance
of 50 percent of the units that may be created to units� owners other than a
declarant, not less than one-third of the members of the executive board must
be elected by units� owners other than the declarant.