Section 116.310305 - Power of executive board to impose construction penalties for failure of unit's owner to adhere to certain schedules relating to design, construction, occupancy or use of unit or improvement1. A unit's owner shall adhere to a schedule required by the association for: (a) The completion of the design of a unit or the design of an improvement to a unit;(b) The commencement of the construction of a unit or the construction of an improvement to a unit;(c) The completion of the construction of a unit or the construction of an improvement to the unit; or(d) The issuance of a permit which is necessary for the occupancy of a unit or for the use of an improvement to a unit.2. The association may impose and enforce a construction penalty against a unit's owner who fails to adhere to a schedule as required pursuant to subsection 1 if: (a) The right to assess and collect a construction penalty is set forth in:(2) Another document related to the common-interest community that is recorded before the date on which the unit's owner acquired title to the unit; or(3) A contract between the unit's owner and the association;(b) The association has included notice of the maximum amount of the construction penalty and schedule as part of any public offering statement or resale package required by this chapter; and(c) The unit's owner receives notice of the alleged violation which informs the unit's owner that he or she has a right to a hearing on the alleged violation.3. For the purposes of this chapter, a construction penalty is not a fine.Added to NRS by 2003, 2221, 2266; A 2011, 2430Added to NRS by 2003, 2221, 2266; A 2011, 2430, effective 1/1/2012