Nevada § 119A.055 - “Material change” defined
Full text of Nevada Nevada Revised Statutes § 119A.055 — “Material change” defined, with citation guidance and answers to common questions.
§ 119A.055. “Material change” defined
1. “ Material change ” means a change in any information or document that is part of the statement of record
which renders the statement of record inaccurate, incomplete or misleading in such
a way as to adversely affect the rights or obligations of a purchaser. 2. The term does not include a change: (a) In the real estate tax assessment or rate, utility charges or deposits, maintenance
fees, association dues, assessments, special assessments or any recurring time-share
expense item, if the change is made known immediately to the prospective purchaser
by a written addendum to the public offering statement; (b) Which is an aspect or result of the orderly development of the time-share plan
in accordance with the time-share instrument, if the change is made known immediately
to the prospective purchaser by a written addendum to the public offering statement; (c) Which corrects spelling, grammar, omissions or other similar errors and which
does not affect the substance of the information or document; or (d) Which occurs in the issuance of the updated annual report or disclosure document
of an exchange company.
Frequently Asked Questions About Nevada § 119A.055
What does Nevada Revised Statutes § 119A.055 cover?
Section 119A.055 ("“Material change” defined") 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 § 119A.055?
A common citation format is "Nevada Revised Statutes § 119A.055" (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 § 119A.055 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.