Blank Nevada 609 PDF Template
The Nevada 609 form is a crucial document for homeowners' associations within the state, ensuring they adhere to specific regulations regarding reserve studies. Since October 1, 2000, associations have been required to conduct a reserve study at least once every five years, which includes a thorough site inspection of the common elements they manage. This form serves as a summary of that study, providing essential details such as the association's legal name, contact information, and the results of the most recent reserve study. It also requires associations to report on their financial status, including the balance of their reserve accounts and any anticipated assessments. By submitting the Nevada 609 form, associations fulfill their legal obligations while promoting transparency and accountability within their communities. This process not only helps maintain the integrity of the common areas but also ensures that adequate funds are available for future repairs and replacements, safeguarding the interests of all homeowners involved.
Nevada 609 Sample
STATE OF NEVADA
DEPARTMENT OF BUSINESS AND INDUSTRY - REAL ESTATE DIVISION
OFFICE OF THE OMBUDSMAN FOR
1179 Fairview Drive, Suite E * Carson City, NV
2501 East Sahara Avenue, Suite 202 * Las Vegas, NV
http://www.red.state.nv.us |
RESERVE STUDY SUMMARY FORM (NRS 116.31152)
All information must be provided
As of October 1, 2000, each association is required to have a reserve study conducted.
The Executive Board, at least once every 5 years, shall cause to be conducted a reserve study with a site inspection of the reserves required to repair, replace or restore the major components of the common elements and any other portion of the common- interest community that the association is obligated to maintain, repair, replace or restore. A summary of the reserve study must be submitted to the Nevada Real Estate Division no later than 45 days after the date the Executive Board adopts the results of each study.
Limited or no site inspection does not meet 5 year requirement per NRS 116.31152
IF A LIMITED OR NO SITE INSPECTION WAS PERFORMED DO NOT SUBMIT THIS FORM
PLEASE CONFIRM THE FOLLOWING:
Full Study: Physical inspection of common elements with representative sampling: (Required every 5 years)
Association’s Nevada Secretary of State (SOS) File number: _______________ SOS Original Filing Date (Mo./day/yr.): ___/___/___
(For SOS filing information, log onto http://nvsos.gov/sosentitysearch/CorpSearch.aspx)
Association’s legal name (Articles of Incorporation): ___________________________________________________________________
If association belongs to a master planned community, please provide master’s name: ______________________________________
Current billing information:
Mailing/billing address: ________________________________________________________________________________________
City: ___________________ State: ______ Zip: _____________ County the association is located in: _________________________
Management company name: (if applicable):_______________________________________________________________________
Address of Management Company: same as above _____________________________________________________________
City: ___________________ State: ______ Zip: _____________ Name of Community Manager: _____________________________
Email address for Community Manager: __________________________________ Custodian of Records: ______________________
DESCRIPTION OF ASSOCIATION PROPERTY |
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|
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• Is the association a (check one)? |
• If a planned community, what type(s) of units are included: |
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□ Condominium |
□ Cooperative |
□ Single Family Dwelling |
□ Condominium |
□ Condominium Hotel |
□ Planned Community |
□ Duplex □ Townhouse |
□ Manufactured Housing |
Approximate age of development: _______ |
Number of annexed units with a Certificate of Occupancy: ________ |
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Max. (total) # of units declarant has right to annex into assn. per the Covenant, Conditions & Restrictions (CC&Rs)? __________
RESERVE STUDY INFORMATION
Date of previous reserve study with site inspection: (Mo./day/yr.): ___/___/___
Date of most current reserve study with site inspection: (Mo./day/yr.):___/___/___
Adoption date of most recent full reserve study with site inspection: (Mo./day/yr.):___/___/___
Name of Reserve Specialist (person) who conducted study: __________________________________________ Registration #: ________
Reserve Study Specialist’s name and registration # can be located at www.red.state.nv.us, Quick Links, License Lookup
If the
Name of the individual conducting the reserve study: _______________________________________ Title (if applicable):________
For office use only
Date Received: |
Date Processed: |
Processed By: |
Revised 11/1/12 |
Page 1 of 2 |
Form 609 |
ADDITIONAL INFORMATION |
|
Are there major components in this reserve study that with site inspection that was not previously identified? Yes |
No |
If yes, explain and attach supporting documents, if appropriate. |
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_______________________________________________________________________________________________________________________
_______________________________________________________________________________________________________________________
FINANCIAL/FUNDING INFORMATION |
Accounting fiscal year end (Mo./day): ____/____ |
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Reconciliation of Reserve Fund Account: (NRS 116.31151) |
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Reserve account balance at beginning of current fiscal year: |
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$_____________________ |
Plus: Current year budgeted reserve transfer: |
+ |
$_____________________ |
Plus: Current year projected investment income: |
+ |
$_____________________ |
Plus: Anticipated reserve assessment, if any (**provide info below): |
+ |
$_____________________ |
Less: Current year projected major repairs and replacements: |
- |
$_____________________ |
Other reconciling items: (indicate + or – dollar amounts) |
+/- $_____________________ |
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Projected reserve account balance at the end of current fiscal year end: |
= |
$_____________________ |
Required reserve account balance at end of current fiscal year based upon this full study: |
$_____________________ |
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Is there a difference between the projected and required balances? If so, list the reason(s) for the difference:
__________________________________________________________________________________________________________
__________________________________________________________________________________________________________
How does the executive board propose resolving the difference?
___________________________________________________________________________________________________________
__________________________________________________________________________________________________________
__________________________________________________________________________________________________________
**Provide detailed information pertaining to any anticipated reserve assessments: ________________________________________
__________________________________________________________________________________________________________
__________________________________________________________________________________________________________
Are the reserve funds held in separate accounts? Yes No
If no, explain why not?
__________________________________________________________________________________________________________
RESERVE STUDY INFORMATION: |
|
|
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Total estimated current replacement costs of the major component inventory: |
$_____________________ |
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Funding plan selected: Full funding |
Threshold funding |
Baseline funding |
Other (explain): |
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
“I declare under penalty of perjury under the law of the State of Nevada that the foregoing, to the best of my knowledge and belief, is true and correct.”
Name of person completing this form (print) ___________________________________________ Title (if applicable): _____________
Person authorized to sign form: □ Board Member (title: ___________) □ Community Manager (License #___________) □ Declarant
Print name: ________________________________ Signature: __________________________________ Date signed: ____/____/____
Revised 11/1/12 |
Page 2 of 2 |
Form 609 |
File Attributes
| Fact Name | Details |
|---|---|
| Governing Law | The Nevada 609 form is governed by NRS 116.31152. |
| Purpose | This form is used to summarize the findings of a reserve study for common-interest communities. |
| Submission Deadline | A summary of the reserve study must be submitted within 45 days after the Executive Board adopts the results. |
| Inspection Requirement | A full reserve study requires a physical inspection of common elements every five years. |
| Limited Inspection | If a limited or no site inspection was conducted, the form should not be submitted. |
| Community Manager Information | Contact details for the community manager must be included in the form. |
| Reserve Fund Accounting | The form requires detailed accounting information regarding the reserve fund balance and projected expenses. |
| Declaration Statement | The individual completing the form must declare that the information provided is true and correct under penalty of perjury. |
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