1. If the declaration provides that any of the powers described in NRS 116.3102 are to be exercised by or may be delegated to a profit or nonprofit corporation that exercises those or other powers on behalf of one or more common-interest communities or for the benefit of the units owners of one or more common-interest communities, or on behalf of a common-interest community and a time-share plan created pursuant to chapter 119A of NRS, all provisions of this chapter applicable to unit-owners associations apply to any such corporation, except as modified by this section. 2. Unless it is acting in the capacity of an association described in NRS 116.3101 , a master association may exercise the powers set forth in paragraph (b) of subsection 1 of NRS 116.3102 only to the extent expressly permitted in: (a) The declarations of common-interest communities which are part of the master association or expressly described in the delegations of power from those common-interest communities to the master association; or (b) The declaration of the common-interest community which is a part of the master association and the time-share instrument creating the time-share plan governed by the master association. 3. If the declaration of any common-interest community provides that the executive board may delegate certain powers to a master association, the members of the executive board have no liability for the acts or omissions of the master association with respect to those powers following delegation. 4. The rights and responsibilities of units owners with respect to the unit-owners association set forth in NRS 116.3103 , 116.31032 , 116.31034 , 116.31036 , 116.3108 , 116.31085 , 116.3109 , 116.311 , 116.31105 and 116.3112 apply in the conduct of the affairs of a master association only to persons who elect the board of a master association, whether or not those persons are otherwise units owners within the meaning of this chapter. 5. Even if a master association is also an association described in NRS 116.3101 , the certificate of incorporation or other instrument creating the master association and the declaration of each common-interest community, the powers of which are assigned by the declaration or delegated to the master association, may provide that the executive board of the master association must be elected after the period of the declarants control in any of the following ways: (a) All units owners of all common-interest communities subject to the master association may elect all members of the master associations executive board. (b) All members of the executive boards of all common-interest communities subject to the master association may elect all members of the master associations executive board. (c) All units owners of each common-interest community subject to the master association may elect specified members of the master associations executive board. (d) All members of the executive board of each common-interest community subject to the master association may elect specified members of the master associations executive board.
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