Nevada § 116.31187 - Prohibition against certain personnel contracting with association or accepting commission, personal profit or compensation from association; exceptions
Full text of Nevada Nevada Revised Statutes § 116.31187 — Prohibition against certain personnel contracting with association or accepting commission, personal profit or compensation from association; exceptions, with citation guidance and answers to common questions.
§ 116.31187. Prohibition against certain personnel contracting with association or accepting commission, personal profit or compensation from association; exceptions
1. Except as otherwise provided in this section, a member of an executive board or
an officer of an association shall not: (a) On or after October 1, 2003, enter into a contract or renew a contract with the
association to provide financing, goods or services to the association; or (b) Otherwise accept any commission, personal profit or compensation of any kind from
the association for providing financing, goods or services to the association. 2. The provisions of this section do not prohibit a declarant, an affiliate of a declarant
or an officer, employee or agent of a declarant or an affiliate of a declarant from: (a) Receiving any commission, personal profit or compensation from the association,
the declarant or an affiliate of the declarant for any financing, goods or services
furnished to the association; (b) Entering into contracts with the association, the declarant or affiliate of the
declarant; or (c) Serving as a member of the executive board or as an officer of the association.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 116.31187
What does Nevada Revised Statutes § 116.31187 cover?
Section 116.31187 ("Prohibition against certain personnel contracting with association or accepting commission, personal profit or compensation from association; exceptions") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 116.31187?
A common citation format is "Nevada Revised Statutes § 116.31187" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 116.31187 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.