Section 119A.240 - General obligations1. The project broker shall share with the developer the responsibility for all activities involving advertising, sales, solicitations and the inducement of persons to purchase time shares.2. If a developer wishes to use more than one location to conduct sales activities, the project broker shall establish and maintain appropriate branch offices.3. A location devoted exclusively to attempting to induce persons to attend a sales presentation for a time-share plan which is not located at the regular place of business of the developer, project broker or sales agent is not a branch office.4. A project broker is responsible for the activities of each sales agent, salesperson, broker-salesperson and registered representative.5. At the discretion of the Administrator, the records of a developer and project broker may be inspected and audited by the Division and, in accordance with subsection 6, must be made available to the Division at the location of the records, if they are located in Nevada, or at the Division's office in Las Vegas, if they are located outside of Nevada.6. A developer must produce the records within 10 days after receiving the Division's request. Failure to provide the Division with the records will result in suspension of the developer's sales activities until the records requested are produced.Nev. Admin. Code § 119A.240
Added to NAC by Real Estate Div., eff. 12-3-84; A by R130-16A, eff. 11/13/2017; A by R130-16AP, eff. 8/30/2018