2010 Nevada Code
TITLE 10 PROPERTY RIGHTS AND TRANSACTIONS
Chapter 116 Common-Interest Ownership (Uniform Act)
NRS 116.31153 Signatures required for withdrawals of certain association funds; exceptions.
NRS 116.31153 Signatures required for withdrawals of certain association funds; exceptions.
1. Money in the reserve account of an association required by paragraph (b) of subsection 2 of NRS 116.3115 may not be withdrawn without the signatures of at least two members of the executive board or the signatures of at least one member of the executive board and one officer of the association who is not a member of the executive board.
2. Except as otherwise provided in subsection 3, money in the operating account of an association may not be withdrawn without the signatures of at least one member of the executive board or one officer of the association and a member of the executive board, an officer of the association or the community manager.
3. Money in the operating account of an association may be withdrawn without the signatures required pursuant to subsection 2 to:
(a) Transfer money to the reserve account of the association at regular intervals; or
(b) Make automatic payments for utilities.
(Added to NRS by 1999, 2995; A 2009, 2927)
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