Section 119A.370 - Sweepstakes, vacation or other gift certificate1. Before a developer advertises or promotes a time-share plan with a program which includes the use of a sweepstakes, vacation or other form of a gift certificate, the developer must:(a) If required by the Administrator, provide proof of financial assurance that he or she can and will honor his or her commitments to the recipients and the suppliers; and(b) Comply with the provisions of NRS 598.131 to 598.139, inclusive.2. A sweepstakes, vacation or other form of a gift certificate must conform to the standards for advertising that are set forth in this chapter and must: (a) Contain a fixed date for the expiration of rights afforded recipients; and(b) Disclose the nature of the gift or other benefit. The disclosure must include a description of: (1) What the prospective purchaser will actually receive;(2) When he or she will receive it;(3) His or her obligations, if any;(4) All other material conditions or limitations; and(5) The actual value of the gift or benefit.3. When the developer, real estate licensee or other agent meets with a recipient, he or she shall clearly identify himself or herself and his or her status of employment with regard to the time-share plan.4. The Administrator will schedule an informal meeting to attempt to resolve a question regarding an advertisement or a document as provided in NAC 119A.215.Nev. Admin. Code § 119A.370
Added to NAC by Real Estate Div., eff. 12-3-84; A 10-23-87; 2-28-90; A by R130-16A, eff. 11/13/2017; A by R130-16AP, eff. 8/30/2018