Nevada Revised Statutes 111.865 – Private transfer fee obligations prohibited
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1. Except as otherwise provided in NRS 111.870:
Terms Used In Nevada Revised Statutes 111.865
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
(a) A person shall not, on or after May 20, 2011, create or record a private transfer fee obligation in this State; and
(b) A private transfer fee obligation that is created or recorded in this State on or after May 20, 2011, is void and unenforceable.
2. The provisions of subsection 1 do not validate or make enforceable any private transfer fee obligation that was created or recorded in this State before May 20, 2011.