Section 624.520 - Contractor required to notify owner of rights related to account; written statement; administrative fine for noncompliance1. A residential contractor shall notify an owner with whom he or she contracts of the rights of the owner pursuant to NRS 624.400 to 624.560, inclusive, including, without limitation, providing a written statement explaining those rights in any agreement or contract for qualified services. The written statement must be in substantially the following form: RESIDENTIAL CONSTRUCTION RECOVERY FUND
Payment may be available from the Recovery Fund if you are damaged financially by a project performed on your residence pursuant to a contract, including construction, remodeling, repair or other improvements, and the damage resulted from certain specified violations of Nevada law by a contractor licensed in this State. To obtain information relating to the Recovery Fund and filing a claim for recovery from the Recovery Fund, you may contact the State Contractors' Board.
2. The Board may impose upon a contractor an administrative fine:(a) Of not more than $250 for the first violation of subsection 1; and(b) Of not more than $500 for a second or subsequent violation of subsection 1.3. The Board shall deposit any money received pursuant to this section in the account established pursuant to NRS 624.470.Added to NRS by 1999, 1970; A 2019, 38; 2021, 421Amended by 2021, Ch. 98,§5, eff. 5/26/2021.Amended by 2019, Ch. 7,§2, eff. 10/1/2019.Added to NRS by 1999, 1970