HOASupport
LATEST UPDATES ON LEGAL & LEGISLATIVE ISSUES FOR NEVADA COMMON INTEREST COMMUNITIES & PROFESSIONALS ...
A Community Association Solutions (CASolutions) Website
For Those Involved in the Management and Support of Common Interest Communities
Additional Links to Statute references to
RESERVES and RESERVE STUDIES
NAC116 - Nevada Administrative Code
... Relating to Reserves and Reserve Studies.
NAC116-405.8e - "Consult with appropriate professionals as necessary before making any major decision affecting the association or the common elements, including, without limitation, consulting with a reserve study specialist"
NAC116-415 - "Contents of budget to maintain reserves"
NAC116-425 - "Contents of study - Types of Funding, Types of Studies, Adequate Funding Defined."
NAC116-427 - "Commencement of period for conducting reserve study"
NAC116-430 - "Required disclosures"
NAC116-435 - "Dissemination of summary of results"
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Updates are ongoing.
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Watch for Sara's Blasts!
In Nevada, there is a lot of legislation that affects Common Interest Communities (CICs) and as you know, much of it isn't necessarily friendly to CIC Owners. Please continue to monitor Sara's blasts for
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2023 will be a new legislative year. Keep watch for new legislation.