Section 116.151 - Escrow of deposits: Money deemed to be held in this StateFor purposes of NRS 116.411, money deposited in an escrow account in connection with the purchase or reservation of a unit from a person required to deliver a public offering statement pursuant to subsection 3 of NRS 116.4102 is deemed to be held in this State if the escrow holder:
1. Is authorized to do business in this State;2. Has appointed a resident agent pursuant to subsection 1 of NRS 14.020; and3. Has consented to the jurisdiction of the courts of this State by:(a) Maintaining a physical address in this State; or(b) Executing written consent to such jurisdiction over any lawsuit or claim, whether brought by or against the declarant or purchaser, relating to or arising from the sale of a unit or the related escrow agreement.Nev. Admin. Code § 116.151
Added to NAC by Comm'n for Common-Interest Communities & Condo. Hotels by R145-06, eff. 4-17-2008