Use of sweepstakes, vacation or other gift certificate.

1. Before a developer advertises or promotes a time-share plan with a program which includes the use of a sweepstakes, vacation or other form of a gift certificate, the developer must: (a) If required by the Administrator, provide proof of financial assurance that he or she can and will honor his or her commitments to the recipients and the suppliers; and (b) Comply with the provisions of NRS 598.131 to 598.139 , inclusive. 2. A sweepstakes, vacation or other form of a gift certificate must conform to the standards for advertising that are set forth in this chapter and must: (a) Contain a fixed date for the expiration of rights afforded recipients; and (b) Disclose the nature of the gift or other benefit. The disclosure must include a description of: (1) What the prospective purchaser will actually receive; (2) When he or she will receive it; (3) His or her obligations, if any; (4) All other material conditions or limitations; and (5) The actual value of the gift or benefit. 3. When the developer, real estate licensee or other agent meets with a recipient, he or she shall clearly identify himself or herself and his or her status of employment with regard to the time-share plan. 4. The Administrator will schedule an informal meeting to attempt to resolve a question regarding an advertisement or a document as provided in NAC 119A.215 .