Section 616B.525 - Application for certificationIn addition to the requirements of NRS 616B.350, an association's application for certification must include:
1. A statement of the amount of the association's money that the initial third-party administrator of the association will control in the 12 months that follow the date of the application.2. A statement of the amount of the association's money that the association's administrator will control in the 12 months that follow the date of the application.3. The plan required by NRS 616B.416 for payment of annual assessments by members of the association. The plan may specify that a portion of the assessment, in an amount approved by the Commissioner, will be charged against each member before certification to pay expenses that arise in the certification process. The portion of the assessment that is charged before certification must be credited against the total annual assessment owed by the member.Nev. Admin. Code § 616B.525
Added to NAC by Comm'r of Insurance, eff. 3-22-96NRS 616B.350, 616B.446, 679B.130