1. A member of an executive board who stands to gain any personal profit or compensation of any kind from a matter before the executive board shall:
(a) Disclose the matter to the executive board; and
(b) Abstain from voting on any such matter.
2. A member of an executive board who has a member of his or her household or any person related to the member by blood, adoption or marriage within the third degree of consanguinity or affinity who stands to gain any personal profit or compensation of any kind from a matter before the executive board shall disclose the matter to the executive board before voting on any such matter.
3. For the purposes of this section:
(a) An employee of a declarant or an affiliate of a declarant who is a member of the executive board shall not, solely by reason of such employment or affiliation, be deemed to gain any personal profit or compensation.
(b) A member of an executive board shall not be deemed to gain any personal profit or compensation solely because the member of the executive board is the owner of a unit in the common-interest community.
(Added to NRS by 2009, 1099, 2908)
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