2015 Nevada Revised Statutes
Chapter 116 - Common-Interest Ownership (Uniform Act)
NRS 116.2124 - Termination following catastrophe.

NV Rev Stat § 116.2124 (2015) What's This?

If substantially all the units in a common-interest community have been destroyed or are uninhabitable and the available methods for giving notice under NRS 116.3108 of a meeting of units’ owners to consider termination under NRS 116.2118 will not likely result in receipt of the notice, the executive board or any other person holding an interest in the common-interest community may commence an action in the district court of the county in which the common-interest community is located seeking to terminate the common-interest community. During the pendency of the action, the court may issue whatever orders it considers appropriate, including, without limitation, an order for the appointment of a receiver. After a hearing, the court may terminate the common-interest community or reduce its size and may issue any other order the court considers to be in the best interest of the units’ owners and persons holding an interest in the common-interest community.

(Added to NRS by 2011, 2414)

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