Nev. Admin. Code § 704.983 - Service charge: Deposit and use of money received; disposition of interest
1. If the landlord
of a mobile home park assesses and collects from his or her tenants a service
charge for gas or electric service pursuant to subsection 5 of
NRS
704.940, the landlord shall deposit the money
for each type of utility service in a separate interest-bearing account in a
financial institution which is insured by the Federal Government or in any
other type of separate account approved by the Commission upon a petition
requesting such approval which is filed by the landlord pursuant to NAC
703.540. The landlord shall:
(a) Retain for
at least 3 years each statement issued to the landlord by the institution for
each such account; and
(b) Keep the
money for the service charges in the separate account and expend it only for
the purposes set forth in
NRS
704.940.
2. Any interest earned on the money kept in
the separate account must be retained in that account and may be expended:
(a) In the manner statutorily authorized for
expenditure of the principal; and
(b) Only for expenses relating to the utility
service for which the money was collected.
Notes
NRS 703.025, 704.210, 704.940
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