Nevada § 119A.4771 - Registration and licensing of person listing, advertising, transferring, assisting in transferring, soliciting or promoting sale of more than 12 previously sold time shares in 12-month period on behalf of owner other than developer; exception

§ 119A.4771. Registration and licensing of person listing, advertising, transferring, assisting in transferring, soliciting or promoting sale of more than 12 previously sold time shares in 12-month period on behalf of owner other than developer; exception

1. A person who, on behalf of an owner other than a developer and for compensation,

undertakes to list, advertise, transfer, assist in transferring or promote for resale,

or solicit prospective purchasers of, more than 12 time shares in any 12-month period

that were previously sold must: (a) Be licensed as a real estate broker pursuant to the provisions of chapter 645 of NRS ; (b) Register as a time-share resale broker with the Division by completing a form

for registration provided by the Division; and (c) Pay any applicable fees. 2. A time-share resale broker shall renew his or her registration with the Division

annually on a form provided by the Division and pay any applicable fees. 3. Unless the method of resales of time shares is made to evade the provisions of

this chapter, a person is not required to register pursuant to this section or to

be licensed under chapter 645 of NRS as a time-share resale broker if the person: (a) Is a purchaser who acquires time shares for his or her own use and occupancy and

who later offers to resell 12 or fewer of those time shares in any one calendar year; (b) Is a project broker who resells or offers to resell a time share in a project

as an agent for a developer who holds a permit for the project; or (c) Is an owner, operator or publisher of a newspaper, periodical or Internet website,

unless the owner, operator or publisher, alone or in combination with its affiliate,

parent, subsidiary or agent, derives more than 10 percent of its gross revenue from

providing advance fee listings. For the purposes of this paragraph, the calculation of gross revenue derived from

providing advance fee listings includes the revenue of any affiliate, parent, agent

and subsidiary of the owner, operator or publisher of the newspaper, periodical or

Internet website. As used in this paragraph, “advance fee listings” has the meaning ascribed to it

in NRS 645.004 .