There Is a Newer Version
of
this Statute
2020 Nevada Revised Statutes
Chapter 116 - Common-Interest Ownership (Uniform Act)
NRS 116.2119 - Rights of secured lenders.
Universal Citation:
NV Rev Stat § 116.2119 (2020)
Learn more
This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
The declaration may require that all or a specified number or percentage of the lenders who hold security interests encumbering the units approve specified actions of the units’ owners or the association as a condition to the effectiveness of those actions, but no requirement for approval may operate to:
1. Deny or delegate control over the general administrative affairs of the association by the units’ owners or the executive board;
2. Prevent the association or the executive board from commencing, intervening in or settling any litigation or proceeding; or
3. Prevent any trustee or the association from receiving and distributing any proceeds of insurance except pursuant to NRS 116.31133 and 116.31135.
(Added to NRS by 1991, 554)
Disclaimer: These codes may not be the most recent version. Nevada may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
