NV SB339

Real Estate Division must investigate and audit HOA financial accounts when there is reasonable cause to believe records have not been properly maintained

Executive board candidates must undergo background investigations conducted by the Real Estate Division and submit certified copies to the association for distribution to unit owners

Executive board members must complete a mandatory training and orientation program within 6 months of election or appointment

Reserve studies must be conducted annually (changed from every 5 years) and reserves must be sufficient to fund projected fiscal year costs for repairs, replacements, and restorations

Damage claims for HOA law violations are exempt from mandatory mediation and must be filed as small claims in justice court, with no cap on the amount that can be recovered