Nevada Revised Statutes Title 10. Property Rights and Transactions § 119B.300. Formation of association of members; incorporation; proxies

1. The developer may form an association of the members. The association may be incorporated.

2. The state of incorporation may be:

3. If an association is incorporated, the articles of incorporation or the bylaws must provide for the transfer by the developer to the owners of the control of the association within 120 days after 80 percent of the memberships have been sold.

4. Except as provided in NRS 78.355, any proxy which is executed by an owner to an association is valid for an indefinite period if the owner may revoke his or her proxy, by written notice to the association, to vote at a particular meeting.