2015 Nevada Revised Statutes
Chapter 116B - Condominium Hotel Act
NRS 116B.570 - Insurance: Policies.

NV Rev Stat § 116B.570 (2015) What's This?

Insurance policies carried pursuant to this chapter must provide to the extent reasonably available that:

1. Each unit’s owner is an insured person under the policy with respect to liability arising out of his or her interest in the common elements or membership in the association;

2. The insurer waives its right to subrogation under the policy against any unit’s owner or member of his or her household;

3. No act or omission by any unit’s owner, unless acting within the scope of his or her authority on behalf of the association, will void the policy or be a condition to recovery under the policy; and

4. If, at the time of a loss under the policy, there is other insurance in the name of a unit’s owner covering the same risk covered by the policy, the association’s policy or the hotel unit owners’ policy, as applicable, provides primary insurance.

(Added to NRS by 2007, 2233)

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