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Current as of January 01, 2021 | Updated by FindLaw Staff
1. Except as otherwise provided in this section, a member of an executive board or an officer of an association shall not:
(a) On or after October 1, 2003, enter into a contract or renew a contract with the association to provide financing, goods or services to the association; or
(b) Otherwise accept any commission, personal profit or compensation of any kind from the association for providing financing, goods or services to the association.
2. The provisions of this section do not prohibit a declarant, an affiliate of a declarant or an officer, employee or agent of a declarant or an affiliate of a declarant from:
(a) Receiving any commission, personal profit or compensation from the association, the declarant or an affiliate of the declarant for any financing, goods or services furnished to the association;
(b) Entering into contracts with the association, the declarant or affiliate of the declarant; or
(c) Serving as a member of the executive board or as an officer of the association.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 10. Property Rights and Transactions § 116.31187. Prohibition against certain personnel contracting with association or accepting commission, personal profit or compensation from association; exceptions - last updated January 01, 2021 | https://codes.findlaw.com/nv/title-10-property-rights-and-transactions/nv-rev-st-116-31187/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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