reglab/housing_qa huggingface dataset:
VA Code § 55.1-2174 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 21 - Virginia Real Estate Cooperative Act|§ 55.1-2174. General powers and duties of the Common Interest Community Board

A. The Common Interest Community Board may adopt, amend, and repeal regulations and issue orders consistent with and in furtherance of the objectives of this chapter, but the Common Interest Community Board shall not intervene in the internal activities of an association except to the extent necessary to prevent or cure violations of this chapter. The Common Interest Community Board may prescribe forms and procedures for submitting information to the Common Interest Community Board.B. If it appears that any person has engaged, is engaging, or is about to engage in any act or practice in violation of this chapter or any of the Common Interest Community Board's regulations or orders, the Common Interest Community Board without prior administrative proceedings may bring an action in the appropriate court to enjoin that act or practice or for other appropriate relief. The Common Interest Community Board is not required to post a bond or prove that no adequate remedy at law exists.C. The Common Interest Community Board may intervene in any action involving the powers or responsibilities of a declarant in connection with any cooperative for which an application for registration is on file.D. The Common Interest Community Board may accept grants-in-aid from any governmental source and may contract with agencies charged with similar functions in this or other jurisdictions in furtherance of the objectives of this chapter.E. The Common Interest Community Board may cooperate with agencies performing similar functions in this and other jurisdictions to develop uniform filing procedures and forms, uniform disclosure standards, and uniform administrative practices and may develop information that may be useful in the discharge of the agency's duties.F. In issuing any cease and desist order or order rejecting or revoking registration of a cooperative, the Common Interest Community Board shall state the basis for the adverse determination and the underlying facts.G. The Common Interest Community Board, in its sound discretion, may require bonding, escrow of portions of sales proceeds, or other safeguards it may prescribe by its regulations to guarantee completion of all improvements labeled "MUST BE BUILT" pursuant to § 55.1-2171.1982, c. 277, § 55-502; 2019, c. 712.
VA Code § 55.1-2175 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 21 - Virginia Real Estate Cooperative Act|§ 55.1-2175. Registration required

A declarant shall not offer or dispose of a cooperative interest intended for residential use unless the cooperative and the cooperative interest are registered with the Common Interest Community Board. A cooperative consisting of no more than three units that is not subject to development rights is exempt from the requirements of this section.1982, c. 277, § 55-497; 2019, c. 712.
VA Code § 55.1-2177 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 21 - Virginia Real Estate Cooperative Act|§ 55.1-2177. Receipt of application; order or registration

A. The Common Interest Community Board shall acknowledge receipt of an application for registration within five business days after receiving it. Within 60 days after receiving the application, the Common Interest Community Board shall determine whether:1. The application and the proposed public offering statement satisfy the requirements of this chapter and the Common Interest Community Board's regulations;2. The declaration and bylaws comply with this chapter; and3. It is likely that the improvements the declarant has undertaken to make can be completed as represented.B. If the Common Interest Community Board makes a favorable determination, it shall issue promptly an order registering the cooperative. Otherwise, unless the declarant has consented in writing to a delay, the Common Interest Community Board shall issue promptly an order rejecting registration.1982, c. 277, § 55-499; 2019, c. 712.
VA Code § 55.1-2178 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 21 - Virginia Real Estate Cooperative Act|§ 55.1-2178. Cease and desist order

If the Common Interest Community Board determines, after notice and hearing, that any person has disseminated or caused to be disseminated orally or in writing any false or misleading promotional materials in connection with a cooperative or that any person has otherwise violated any provision of this chapter or the Common Interest Community Board's regulations or orders, the Common Interest Community Board may issue an order to cease and desist from that conduct or to take such affirmative action as may be appropriate to the Common Interest Community Board.1982, c. 277, § 55-500; 2019, cc. 467, 712.
VA Code § 55.1-2179 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 21 - Virginia Real Estate Cooperative Act|§ 55.1-2179. Revocation of registration

A. The Common Interest Community Board, after providing notice stating the deficiency complained of and holding a hearing, may issue an order revoking the registration of a cooperative upon determination that a declarant or any officer or principal of a declarant has:1. Failed to comply with a cease and desist order issued by the Common Interest Community Board affecting that cooperative;2. Concealed, diverted, or disposed of any funds or assets of any person in a manner impairing rights of purchasers of cooperative interests in that cooperative;3. Failed to perform any stipulation or agreement made to induce the Common Interest Community Board to issue an order relating to that cooperative;4. Intentionally misrepresented or failed to disclose a material fact in the application for registration; or5. Failed to meet any of the conditions described in §§ 55.1-2176 and 55.1-2177 necessary to qualify for registration.B. Without the consent of the Common Interest Community Board, a declarant shall not convey, cause to be conveyed, or contract for the conveyance of any cooperative interest while an order revoking the registration of the cooperative is in effect.C. In appropriate cases, the Common Interest Community Board may issue a cease and desist order in lieu of an order of revocation.1982, c. 277, § 55-501; 2019, c. 712.
VA Code § 55.1-2180 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 21 - Virginia Real Estate Cooperative Act|§ 55.1-2180. Investigative powers of the Common Interest Community Board

A. The Common Interest Community Board may initiate public or private investigations within or outside the Commonwealth to determine whether any representation in any document or information filed with the Common Interest Community Board is false or misleading or whether any person has engaged, is engaging, or is about to engage in any unlawful act or practice.B. In the course of any investigation or hearing, the Common Interest Community Board may subpoena witnesses and documents, administer oaths and affirmations, and adduce evidence. If a person fails to comply with a subpoena or to answer questions propounded during the investigation or hearing, the Common Interest Community Board may apply to the appropriate court for a contempt order or for injunctive or other appropriate relief to secure compliance.1982, c. 277, § 55-503; 2019, c. 712.
VA Code § 55.1-2181 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 21 - Virginia Real Estate Cooperative Act|§ 55.1-2181. Annual report and amendments

A. A declarant, within 30 days after the anniversary date of the order of registration, shall file annually a report to bring up to date the material contained in the application for registration and the public offering statement. This provision does not relieve the declarant of the obligation to file amendments pursuant to subsection B.B. A declarant shall file promptly amendments to the public offering statement with the Common Interest Community Board.C. If an annual report reveals that a declarant owns or controls cooperative interests representing less than 25 percent of the voting power in the association and that a declarant has no power to increase the number of units in the cooperative or to cause a merger or confederation of the cooperative with other cooperatives, the Common Interest Community Board shall issue an order relieving the declarant of any further obligation to file annual reports. After such order is issued, so long as the declarant is offering any cooperative interests for sale, the Common Interest Community Board has jurisdiction over the declarant's activities but has no other authority to regulate the cooperative.1982, c. 277, § 55-504; 2019, c. 712.
VA Code § 55.1-2182 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 21 - Virginia Real Estate Cooperative Act|§ 55.1-2182. Annual report by associations

A. The association shall file an annual report in a form and at such time as prescribed by regulations of the Common Interest Community Board. The filing of the annual report required by this section shall commence upon the termination of any declarant control period reserved pursuant to § 55.1-2134. The annual report shall be accompanied by a fee in an amount established by the Common Interest Community Board, which shall be paid into the state treasury and credited to the Common Interest Community Management Information Fund established pursuant to § 54.1-2354.2.B. The agency may accept copies of forms submitted to other state agencies to satisfy the requirements of this section if such forms contain substantially the same information required by the Common Interest Community Board.1993, c. 958, § 55-504.1; 2008, cc. 851, 871; 2009, c. 557; 2012, cc. 481, 797; 2019, cc. 391, 712.
VA Code § 55.1-2183 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 21 - Virginia Real Estate Cooperative Act|§ 55.1-2183. Common Interest Community Board regulation of public offering statement

A. The Common Interest Community Board at any time may require a declarant to alter or supplement the form or substance of a public offering statement to assure adequate and accurate disclosure to prospective purchasers.B. The public offering statement shall not be used for any promotional purpose before registration and shall be used afterwards only if it is used in its entirety. No person shall advertise or represent that the Common Interest Community Board has approved or recommended the cooperative, the disclosure statement, or any of the documents contained in the application for registration.C. In the case of a cooperative situated wholly outside of the Commonwealth, no application for registration or proposed public offering statement filed with the Common Interest Community Board that has been approved by an agency in the state where the cooperative is located and substantially complies with the requirements of this chapter shall be rejected by the Common Interest Community Board on the grounds of noncompliance with any different or additional requirements imposed by this chapter or by the Common Interest Community Board's regulations. However, the Common Interest Community Board may require additional documents or information in particular cases to assure adequate and accurate disclosure to prospective purchasers.1982, c. 277, § 55-505; 2019, c. 712.
VA Code § 55.1-2184 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 21 - Virginia Real Estate Cooperative Act|§ 55.1-2184. Penalties

Any person who willfully violates § 55.1-2155, 55.1-2158, 55.1-2159, 55.1-2162, 55.1-2164, 55.1-2176, or 55.1-2181 or any regulation adopted under, or order issued pursuant to, § 55.1-2174, or any person who willfully in an application for registration makes any untrue statement of a material fact or omits to state a material fact, is guilty of a misdemeanor and may be (i) fined not less than $1,000 or double the amount of gain from the transaction, whichever is larger, but not more than $50,000 or (ii) imprisoned for not more than six months, or both, for each offense.1982, c. 277, § 55-506; 2019, c. 712.
VA Code § 55.1-2201 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 22 - Virginia Real Estate Time-Share Act|§ 55.1-2201. Applicability

A. This chapter shall have exclusive jurisdiction and shall apply to any product offering or disposition made within the Commonwealth after July 1, 1985, in a time-share project located within the Commonwealth. Sections 55.1-2200, 55.1-2201, 55.1-2202, 55.1-2203, 55.1-2204, 55.1-2206, 55.1-2210, 55.1-2211, 55.1-2213, 55.1-2215, 55.1-2216, 55.1-2220, 55.1-2227, 55.1-2229, 55.1-2230, 55.1-2232, 55.1-2233, 55.1-2237, and 55.1-2252 shall apply to a time-share project within the Commonwealth that was created prior to July 1, 1985.B. This chapter shall not affect rights or obligations created by preexisting provisions of any time-share instrument that transfers an estate or interest in real property.C. This chapter shall apply to any product offering or disposition in a time-share project located outside the Commonwealth and offered for sale in the Commonwealth with the exception that Articles 2 (§ 55.1-2207 et seq.), 3 (§ 55.1-2217 et seq.), and 4 (§ 55.1-2235 et seq.) shall apply only to the extent permitted by the laws of the situs.D. This chapter shall apply to any product offering or disposition in a time-share program, and offered for sale in the Commonwealth, created under a situs time-sharing law in which the time-share interests in the time-share program are either direct or indirect beneficial interests in a trust created pursuant to the situs time-sharing law or other applicable law of the situs.Code 1950, § 55-361; 1981, c. 462; 1983, c. 59; 1985, c. 517, § 55-361.1; 1986, c. 359; 1989, c. 637; 1991, c. 704; 1994, c. 580; 2019, c. 712; 2020, c. 1011.
VA Code § 55.1-2202 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 22 - Virginia Real Estate Time-Share Act|§ 55.1-2202. Administrative agency

The Common Interest Community Board shall administer this chapter.1985, c. 517, § 55-362.1; 2008, cc. 851, 871; 2019, c. 712.
VA Code § 55.1-2203 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 22 - Virginia Real Estate Time-Share Act|§ 55.1-2203. Status of time-share estates with respect to real property interests

A. A document transferring or encumbering a time-share estate shall not be rejected for recordation within the Commonwealth because of the nature or duration of that estate or interest, provided that the document complies with all other recordation requirements.B. Each time-share estate constitutes for purposes of title a separate estate or interest in a unit.C. For purposes of local real property taxation, each time-share unit, other than a unit operated for time-share use, shall be valued in the same manner as if such unit were owned by a single taxpayer. The total cumulative purchase price paid by the time-share owners for a unit shall not be utilized by the commissioner of revenue or other local assessing officer as a factor in determining the assessed value of such unit. A unit operated as a time-share use, however, may be assessed the same as other income-producing and investment property. The commissioner of revenue or other local assessing officer shall list in the land book a time-share unit in the name of the association.1981, c. 462, § 55-363; 1985, c. 517; 1994, c. 580; 2019, c. 712.
VA Code § 55.1-2204 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 22 - Virginia Real Estate Time-Share Act|§ 55.1-2204. Applicability of local ordinances, regulations, and building codes

A zoning, subdivision, or other ordinance or regulation shall not impose any requirement upon a time-share project that it would not otherwise impose upon a similar project under a different form of ownership.1981, c. 462, § 55-364; 2019, c. 712.
VA Code § 55.1-2205 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 22 - Virginia Real Estate Time-Share Act|§ 55.1-2205. Use of terms

A developer in its offering or disposition of a time-share may use interchangeably any term recognized in the industry, including "time-share," "time-share interest," "interval ownership," "interval ownership interest," "vacation ownership," "vacation ownership interest," and "product." A developer shall not use the term "incidental benefit" or "alternative purchase" except in the proper context.1994, c. 580, § 55-364.1; 2019, c. 712.
VA Code § 55.1-2206 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 22 - Virginia Real Estate Time-Share Act|§ 55.1-2206. Severability of provisions of time-share instruments

All provisions of the time-share instruments shall be deemed severable, and any unlawful provision of such instrument shall be void.Code 1950, § 55-365; 1981, c. 462; 1985, c. 517, § 55-365.1; 2019, c. 712.
VA Code § 55.1-2207 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 22 - Virginia Real Estate Time-Share Act|§ 55.1-2207. Time-sharing permitted

A time-share project shall be permitted on any land or improvement on such land lying within the Commonwealth unless prohibited by zoning then in effect or by the express language of any legally enforceable covenant, condition, or restriction, however denominated, contained in the governing documents of record for such land, including condominium instruments under the Condominium Act (§ 55.1-1900 et seq.), a time-share instrument under this chapter, a declaration under the Virginia Real Estate Cooperative Act (§ 55.1-2100 et seq.), or a master deed under the Horizontal Property Act (§ 55.1-2000 et seq.). This chapter shall not be construed to affect the validity of any provision of any time-share program or any expansion of such a program or time-share instrument recorded or in existence prior to July 1, 1981.1981, c. 462, § 55-366; 1994, c. 580; 1998, c. 460; 2019, c. 712.
VA Code § 55.1-2210 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 22 - Virginia Real Estate Time-Share Act|§ 55.1-2210. Developer control in time-share estate program

A. The time-share instrument for a time-share estate program shall provide for a developer control period. All costs associated with the control, management, and operation of the time-share estate project during the developer control period shall belong to the developer, except for time-share estate occupancy expenses that shall, if required by the developer in the time-share instrument, be allocated only to and paid by time-share estate owners other than the developer. Nothing shall preclude the developer, during the developer control period and at any time after the lapse of a purchaser's right of cancellation and without regard to the recordation of the deed, provided that the deed has been delivered to the purchaser or the purchaser's agent, from collecting an annual or specially assessed charge from each time-share estate owner for the payment of the time-share estate occupancy expenses by way of a maintenance fee. However, any such funds received and not spent, or any other funds received and allocated to the benefit of the association, shall be transferred to the association by the developer at the termination of the developer control period.B. Except to the extent that the purchase contract or time-share instrument expressly provides otherwise, fee simple title to the common elements shall be transferred to the time-share estate owners' association, free of charge, no later than at such time as the developer (i) transfers to purchasers legal or equitable ownership of at least 90 percent of the time-share estates, excluding any reacquisitions by the developer; (ii) is no longer the beneficiary on deeds of trust secured on at least 20 percent of the time-share estates; or (iii) has completed all of the promised common elements and facilities that the time-share estate project comprises, whichever occurs last. The developer may make such transfer when the period has ended for a phase or portion of the time-share estate project. The transfer required of the developer by this subsection shall not exonerate the developer from the responsibility of completion of the promised and incomplete common elements once the transfer occurs. Upon transfer of the time-share project or portion to the association, the developer control period for such project or portion of such project shall terminate.1981, c. 462, § 55-369; 1985, c. 517; 1989, c. 637; 1991, c. 704; 1993, c. 842; 1994, c. 580; 1998, c. 460; 2001, c. 543; 2008, c. 376; 2013, cc. 259, 327; 2019, c. 712.
VA Code § 55.1-2215 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 22 - Virginia Real Estate Time-Share Act|§ 55.1-2215. Partition

No action for partition of a unit may be maintained except as permitted by the time-share instrument or by subsection C of § 55.1-2216.1981, c. 462, § 55-372; 2019, c. 712.
VA Code § 55.1-2218 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 22 - Virginia Real Estate Time-Share Act|§ 55.1-2218. Certain advertising practices regulated

A. Any offering that includes a gift or prize shall disclose in such offering, with the same prominence as such offer:1. The retail value of each gift or prize;2. The approximate odds against any given person obtaining each gift or prize if all persons to whom the advertisement is disseminated do what is necessary to qualify for the award of the gift or prize;3. If the number of gifts or prizes to be awarded is limited, a statement of the number of gifts or prizes to be awarded or, in lieu of such statement, the nature of such limitation;4. All rules, terms, requirements, and conditions that shall be fulfilled before a prospective purchaser may claim any gift or prize, including whether the prospective purchaser is required to attend a sales presentation in order to receive the gift or prize;5. The date upon which the offer expires; and6. A statement to the effect that the offer is being made for the purpose of soliciting the purchase of a time-share, time-share interest, interval ownership, interval ownership interest, vacation ownership, vacation ownership interest, or product, as appropriate.B. Any gift or prize offered in connection with an offering shall be delivered to the prospective purchaser no later than the day the purchaser attends a sales presentation, if required, and if not, on the day the purchaser appears to claim it, whether or not he purchases a time-share. In the event that the supply of gifts or prizes is exhausted at the time required for delivery, the developer shall give the prospective purchaser a written, unconditional promise to deliver such gift or prize no later than 30 days from the date required for delivery. If such gift or prize is not obtainable, the developer shall deliver an item of equal or greater value.C. The offering or sale of any product registered with the Board is exempt from the Virginia Securities Act (§ 13.1-501 et seq.), Chapter 9 (§ 55.1-900 et seq.), the Virginia Condominium Act (§ 55.1-1900 et seq.), the Subdivided Land Sales Act (§ 55.1-2300 et seq.), the Virginia Home Solicitation Sales Act (§ 59.1-21.1 et seq.), the Prizes and Gifts Act (§ 59.1-415 et seq.), and the Virginia Travel Club Act (§ 59.1-445 et seq.).1983, c. 59, § 55-374.1; 1984, c. 333; 1985, c. 517; 1991, c. 704; 1994, c. 580; 1996, c. 372; 1998, c. 460; 2006, c. 653; 2008, cc. 851, 871; 2019, c. 712.