NRS 116.31039

Delivery to association of additional common elements constructed by declarant or successor declarant.

No plain-English summary yet for this section. Read the statutory text below or open the official source.

Statutory text

�� 1. If a common-interest community is developed in separate phases and any declarant or successor declarant is constructing any common elements that will be added to the association�s common elements after the date on which the units� owners other than the declarant may elect a majority of the members of the executive board, the declarant or successor declarant who is constructing such additional common elements is responsible for: �� (a) Paying all expenses related to the additional common elements which are incurred before the conveyance of the additional common elements to the association; and �� (b) Except as otherwise provided in NRS 116.31038 , delivering to the association that declarant�s share of the amount specified in the study of the reserves completed pursuant to subsection 2. �� 2. Before conveying the additional common elements to the association, the declarant or successor declarant who constructed the additional common elements shall deliver to the association a study of the reserves for the additional common elements which satisfies the requirements of NRS 116.31152 . �� 3. As used in this section, �successor declarant� includes, without limitation, any successor declarant who does not control the association established by the initial declarant.

Synced from the Florida Legislature’s official site. Verify the current version before citing.

Does your association comply?

Run your governing documents through the compliance scan. It checks them against the rules that apply in your state.

Run the compliance scan

Put this statute to work

Free tools for Nevada boards and owners. No account needed.

Governing Document AnalyzerUpload your CC&Rs, declaration, or bylaws for an instant scan of clauses your state statute or federal law may have already overridden.

Free account

A free account adds bookmarks, PDF export, uploaded governing documents, and side-by-side search with Florida statutes.

Bookmark statute sections you cite in meetings
Upload CC&Rs and bylaws with the same section finder
Ask questions in the Common Area forum

Common Elements is the platform for the community association industry, centered on the associations themselves: the record of each association, the people and professionals who live in, run, manage, and serve them, and the tools, data, and education they use to work together. It complements the management and accounting software you already use; it does not replace it.

Delivery to association of additional common elements constructed by declarant or successor declarant.

Statutory text

Does your association comply?

Put this statute to work

Community discussion

Watch this statute

Your governing documents

Statutory text

Does your association comply?

Put this statute to work

Save your place and go deeper

Community discussion

Watch this statute

Your governing documents