NRS 116.31187

Prohibition against certain personnel contracting with association or accepting commission, personal profit or compensation from association; exceptions.

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Statutory text

�� 1. Except as otherwise provided in this section, a member of an executive board or an officer of an association shall not: �� (a) On or after October 1, 2003, enter into a contract or renew a contract with the association to provide financing, goods or services to the association; or �� (b) Otherwise accept any commission, personal profit or compensation of any kind from the association for providing financing, goods or services to the association. �� 2. The provisions of this section do not prohibit a declarant, an affiliate of a declarant or an officer, employee or agent of a declarant or an affiliate of a declarant from: �� (a) Receiving any commission, personal profit or compensation from the association, the declarant or an affiliate of the declarant for any financing, goods or services furnished to the association; �� (b) Entering into contracts with the association, the declarant or affiliate of the declarant; or �� (c) Serving as a member of the executive board or as an officer of the association.

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Prohibition against certain personnel contracting with association or accepting commission, personal profit or compensation from association; exceptions.

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