Nev. Admin. Code § 119.510

Current through October 11, 2024

Section 119.510 - Standards for promotional meetings

Promotional meetings must conform to the following standards:

1. All advertising in promotional meetings is subject to the standards of advertising set forth in these regulations;

2. No use may be made of shills or false or dummy buyers in promotional meetings to initiate sales or for any other purpose;

3. Oral statements made to prospective purchasers at promotional meetings must be completely consistent with written advertising or other material filed with and approved by the Division;

4. Any prospective purchaser who expresses a desire to leave a promotional meeting at any time during or after the sales presentation may not be impeded in any manner from departing or coerced or pressured to remain;

5. Investigators and other employees of the Division may attend any promotional meeting;

6. Excessively loud music must not be played during promotional meetings and division employees who are present at the meeting may request that music be turned down or off;

7. After the original salesperson makes initial contact with a prospective purchaser, the developer or broker may allow only one additional salesperson to take over and attempt a sale, except a speaker making a speech from a podium;

8. A division employee who is present at a sales presentation may not be identified, singled out or asked questions in such a way that potential purchasers might hear the question or the employee's remarks; and

9. If a broker or developer at any time before, during or after a promotional meeting uses any electronic surveillance, recording, eavesdropping or listening device, its use must be disclosed orally at the beginning of the meeting and also by means of a sign or placard prominently displayed in the meeting room, fully disclosing the use of the devices in the meeting.

Nev. Admin. Code § 119.510

Dep't of Commerce, Real Estate Div., § 56, eff. 7-16-80

NRS 119.240