Nevada § 119A.420 - Deposits to be placed in escrow account; surety bond in lieu of escrow account
Full text of Nevada Nevada Revised Statutes § 119A.420 — Deposits to be placed in escrow account; surety bond in lieu of escrow account, with citation guidance and answers to common questions.
§ 119A.420. Deposits to be placed in escrow account; surety bond in lieu of escrow account
All money, negotiable instruments or other deposits pertaining to the sale of a time
share which are received from a purchaser must be placed in an escrow account established
to the satisfaction of the Division and held until such time as the right to cancel
the contract of sale pursuant to NRS 119A.410 has expired and the purchaser has failed to cancel the contract of sale. In lieu of placing such deposits in an escrow account, the developer or project
broker may establish to the satisfaction of the Division that a surety bond has been
posted for the benefit of purchasers in the project in the amount of: 1. Twenty-five thousand dollars; or 2. The highest monthly total amount of deposits received by a project broker, whichever is greater.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 119A.420
What does Nevada Revised Statutes § 119A.420 cover?
Section 119A.420 ("Deposits to be placed in escrow account; surety bond in lieu of escrow account") 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.420?
A common citation format is "Nevada Revised Statutes § 119A.420" (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.420 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.