It has been confirmed by the SOA that the requirements of NRS 116.31088 “Meetings regarding civil actions; requirements for commencing or ratifying certain civil actions ….”, will apply to the SOA’s Rockery Wall civil action process (see previous post of February 5th entitled “Rockery Wall Defect Litigation”).
This NRS 116.31088 statute (paraphrased) requires the following:
- That the SOA provide notification of and conduct an owner meeting to discuss the proposed civil action,
- That the proposed civil action be ratified via majority owner vote or written agreement.
- That prior to ratification, the Association provide a written statement to owners that includes a cost estimate for the civil action, including attorney fees, and an explanation of the benefits and/or adverse consequences of the civil action.
- That once settled, a disclosure of the terms and conditions of the settlement at the next BOD meeting.
In consideration of the above, the SOA BOD intends to schedule a meeting for late February and the sending out of ballots for owner approval.
For those interested in a complete reading of NRS 116.31088, go to the “References” tab and click on the “NRS 116 Common-Interest Ownership Uniform Act” link. This will take you to the NRS 116 website wherein you can access all of its provisions.