Statute 116b 725

1. Except as otherwise provided in subsection 2, NRS 116B.725 to 116B.795, inclusive, apply to all condominium hotels. 2. Neither a public offering statement nor a certificate of resale need be prepared or delivered in the case of a: (a) Gratuitous disposition of a unit; (b) Disposition pursuant to court order; (c) Disposition by a government or governmental agency; (d) Disposition by foreclosure or deed in lieu of foreclosure; (e) Disposition to a dealer; (f) Disposition that may be cancelled at any time and for any reason by the purchaser without penalty; or (g) Disposition of a unit not used for residential use. (Added to NRS by 2007, 2248; A 2015, 1243)