Nevada § 119A.720 - Participation in plan or scheme to transfer time share to person without ability to pay assessments and taxes constitutes false, misleading or deceptive act or practice; rebuttable presumption of violation; exception for certain acts by association or manager

§ 119A.720. Participation in plan or scheme to transfer time share to person without ability to pay assessments and taxes constitutes false, misleading or deceptive act or practice; rebuttable presumption of violation; exception for certain acts by association or manager

1. Except as otherwise provided in subsection 3, any person other than a person described

in paragraph (a) of subsection 3 of NRS 119A.4771 or a developer or an association that is offering time shares in a time-share plan

which is registered by such a developer or an association or which is exempt from

registration in this State, who knowingly participates, for consideration or with

the expectation of consideration, in any plan or scheme, a purpose of which is to

transfer a previously sold time share to a transferee who does not have the ability,

means or intent to pay all assessments and taxes for that time share commits a false,

misleading or deceptive act or practice for the purposes of NRS 207.170 , 207.171 , 598.0915 to 598.0925 , inclusive, and chapters 598A and 599A of NRS. 2. The failure of a transferee to pay assessments or taxes that come due after the

acquisition of a previously sold time share by a person who acquires the time share

for commercial purposes creates a rebuttable presumption of a violation of this section. 3. An association or manager does not violate the provisions of this section by performing

such administrative acts and collecting such fees or expenses as are customary or

required by law or a time-share instrument during the transfer.