Under existing law, a unit-owner's association has a lien on a unit for certain amounts due to the association and may foreclose its lien through a nonjudicial foreclosure sale after the association has satisfied certain conditions, including, without limitation: (1) mailing a notice of delinquent assessment to the unit's owner or his or her successor in interest, which includes certain information; and (2) executing and recording a notice of default and election to sell not less than 30 days after mailing or delivering the notice of delinquent assessment. (NRS 116.3116-116.31168) Existing law also provides that an association, a member of the executive board or an officer, employee, unit's owner or community manager of an association, or any employee, agent or affiliate of a community manager, is not required to be a licensed debt collection agency or to contract with a licensed debt collection agency to collect amounts due to the association before the association records a notice of default and election to sell. (NRS 116.3116) This bill provides instead that an association, a member of the executive board or an officer, employee, unit's owner or community manager of an association, or any employee, agent or affiliate of a community manager, is not required to be a licensed debt collection agency or to contract with a licensed debt collection agency to collect amounts due to the association before the association mails a notice of delinquent assessment to the unit's owner or his or her successor in interest.

Statutes affected:
As Introduced: 116.3116
Reprint 1: 116.3116
BDR: 116.3116