Nevada Revised Statutes 116.310305 – Power of executive board to impose construction penalties for failure of unit’s owner to adhere to certain schedules relating to design, construction, occupancy or use of unit or improvement
1. A unit’s owner shall adhere to a schedule required by the association for:
Terms Used In Nevada Revised Statutes 116.310305
- Contract: A legal written agreement that becomes binding when signed.
(a) The completion of the design of a unit or the design of an improvement to a unit;
(b) The commencement of the construction of a unit or the construction of an improvement to a unit;
(c) The completion of the construction of a unit or the construction of an improvement to the unit; or
(d) The issuance of a permit which is necessary for the occupancy of a unit or for the use of an improvement to a unit.
2. The association may impose and enforce a construction penalty against a unit’s owner who fails to adhere to a schedule as required pursuant to subsection 1 if:
(a) The right to assess and collect a construction penalty is set forth in:
(1) The declaration;
(2) Another document related to the common-interest community that is recorded before the date on which the unit’s owner acquired title to the unit; or
(3) A contract between the unit’s owner and the association;
(b) The association has included notice of the maximum amount of the construction penalty and schedule as part of any public offering statement or resale package required by this chapter; and
(c) The unit’s owner receives notice of the alleged violation which informs the unit’s owner that he or she has a right to a hearing on the alleged violation.
3. For the purposes of this chapter, a construction penalty is not a fine.