Time Running Out for Associations to
Pay Fees to the Division
Has your association paid
all common-interest communities to register each year with the
Office of the Ombudsman, submitting a $3
fee per door in accordance with Nevada Revised Statute
116.31155. Registration and payment are due in the Ombudsman's
office by the last day of the month in which the association, or its
master association, incorporated with the Nevada Secretary of State.
authorizes the administrator of the Real Estate Division to impose
an administrative penalty against an association or master
association that fails to pay the fees it owes within the time
period established by the division. The
penalty for each violation is 10 percent of the total fees owed or
$500, whichever is less.
The Real Estate
Division has begun enforcement of registration as of Jan 1, 2008.
The first penalties will be assessed Feb.
In addition to
the penalty, the amount of the unpaid fees owed bears interest at a
rate set forth in NRS 99.040 from the date the fees are due until
the fees and all other costs are paid in full. Continued
failure to comply will result in the
association’s corporate filing being placed in default status
with the Secretary of State. Other consequences include referral to
a collection agency, and a possible hearing before an administrative
law judge or the Commission on Common-Interest Communities and
advised to review their financial records to determine whether or
not they are current in the required fees and registration.
DIVISION TO BEGIN ENFORCEMENT OF HOA REGISTRATION (2007)