Nevada AB129 revises bidding procedures for homeowners' association projects, requiring at least three bids for certain projects.
Nevada AB129 revises provisions governing bidding procedures for a homeowners' association. It mandates that associations solicit at least three bids for projects costing 3% or more of the annual budget in communities with fewer than 1,000 units, or 1% or more in larger communities. Exceptions apply if delays could cause property damage or injury. The association must award contracts to the lowest responsive bidder. The bill also defines "association project" to include maintenance, repair, replacement, restoration, and professional services.
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