Restriction on and statements by members of executive boards and officers of associations

NAC 116.480 Restriction on and statements by members of executive boards and officers of associations. ( NRS 116.31185 , 116.615 ) 1. No member of an executive board or officer of an association shall receive, in the aggregate, any gift, incentive, gratuity, reward or other item of value pursuant to subsection 2 of NRS 116.31185 in any calendar year which exceeds the sum of $100. 2. On or before the annual distribution to each unit’s owner of the budgets of the association pursuant to subsection 1 of NRS 116.31151 , each member of an executive board and officer of an association shall deliver to the executive board for inclusion in the annual distribution of the budgets a statement of any gifts, incentives, gratuities, rewards or other items of value which exceed $15 received pursuant to subsection 2 of NRS 116.31185 . (Added to NAC by Comm’n for Common-Interest Communities by R205-05, eff. 9-18-2006)