AB324

Nevada AB324 revises insurance requirements for unit-owners' associations in common-interest communities.

Nevada AB324 modifies insurance requirements for unit-owners' associations in common-interest communities. It eliminates the mandatory inclusion of units divided by vertical boundaries in commercial general liability insurance policies. Instead, it allows associations to decide whether to include these units. The bill also maintains the requirement for property insurance on common elements and, in planned communities, on property that must become common elements.