reglab/statecodes huggingface dataset:
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VI - Time-Share Program Post-Registration Provisions › Section 18VAC48-45-410 - Board review of annual report for a time-share program registration

Current through Register Vol. 40, No. 24, July 15, 2024
A. During review of
				  the annual report, the board may make inquiries or request additional
				  documentation to amplify or clarify the information provided.
B. If the board does not accept the annual
				  report and the annual report filing is not completed within 60 days of a
				  request by the board for additional information, the board may take further
				  action pursuant to §§
										55.1-2247
				  and
				  55.1-2252 of the Code
				  of Virginia for failing to file an annual report as required by §
										55.1-2242
				  of the Code of Virginia.
C. If the
				  board does not perform the required review of the annual report within 30 days
				  of receipt by the board, the annual report shall be deemed to comply with
				  §
										55.1-2242
				  of the Code of Virginia.
Statutory Authority: §§
												54.1-2349
						and
						55.1-2247
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VI - Time-Share Program Post-Registration Provisions › Section 18VAC48-45-420 - Return of bond or letter of credit to ensure completion of promised units and common elements to developer

Current through Register Vol. 40, No. 24, July 15, 2024
A bond or letter of credit on file with the board pursuant
					 to subsection B of §
										55.1-2234
					 of the Code of Virginia may be returned to the developer upon written request.
					 Such request shall include a statement from the developer that indicates the
					 units and common elements for which the bond or letter of credit was submitted
					 have been completed. If the submitted statement is not sufficient to confirm
					 completion, the board may request additional documentation.
Statutory Authority: §§
												54.1-2349
						and
						55.1-2247
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VI - Time-Share Program Post-Registration Provisions › Section 18VAC48-45-430 - Return of bond or letter of credit filed in lieu of escrowing deposits

Current through Register Vol. 40, No. 24, July 15, 2024
A. An individual
				  bond or individual letter of credit on file with the board in accordance with
				  §
										55.1-2220
				  of the Code of Virginia may be returned to the developer upon written request.
				  Such request shall include a statement from the developer that indicates (i)
				  the purchaser's cancellation period has expired, (ii) the purchaser's default
				  under a purchase contract for the time-share estate entitling the developer to
				  retain the deposit, or (iii) the purchaser's deposit was refunded.
B. Upon issuance of an order of termination
				  of the time-share program registration pursuant to
				  18VAC48-45-450,
				  a blanket bond or blanket letter of credit on file with the board in accordance
				  with §
										55.1-2220
				  of the Code of Virginia will be returned to the developer.
Statutory Authority: §§
												54.1-2349
						and
						55.1-2247
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VI - Time-Share Program Post-Registration Provisions › Section 18VAC48-45-440 - Maintenance of bond or letter of credit

Current through Register Vol. 40, No. 24, July 15, 2024
A. The developer shall report the extension,
				  cancellation, amendment, expiration, termination, or any other change of any
				  bond or letter of credit submitted in accordance with §
										55.1-2220
				  and subsection B of §
										55.1-2234
				  of the Code of Virginia within five days of the change.
B. The board at any time may request
				  verification from the developer of the status of a bond or letter of credit on
				  file with the board. Such verification shall comply with the provisions of
				  subdivision B 6 of
				  18VAC48-45-400.
C. Failure to report a change in the bond or
				  letter of credit in accordance with this section shall result in further action
				  by the board pursuant to the Virginia Real Estate Time-Share Act.
Statutory Authority: §§
												54.1-2349
						and
						55.1-2247
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VI - Time-Share Program Post-Registration Provisions › Section 18VAC48-45-450 - Termination of time-share program registration

Current through Register Vol. 40, No. 24, July 15, 2024
A. The time-share program registration shall
				  be terminated upon receipt of documentation of one of the following:
1. In accordance with subsection A of §
											55.1-2243
				  of the Code of Virginia, an annual report for a time-share estate program filed
				  pursuant to §
											55.1-2242
				  of the Code of Virginia indicates that the developer has transferred title to
				  the time-share owners' association and that no further development rights
				  exist.
2. In accordance with
				  subsection B of §
											55.1-2243
				  of the Code of Virginia, written notification is received from the developer
				  attesting that no further development of the program is anticipated and that
				  the developer has ceased sales of time-shares in the
				  program.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VI - Time-Share Program Post-Registration Provisions › Section 18VAC48-45-460 - Administrative termination of time-share program registration

Current through Register Vol. 40, No. 24, July 15, 2024
A. In accordance with subsection C of §
										55.1-2243
				  of the Code of Virginia, the board may administratively terminate the
				  registration of a time-share program. Prior to the administrative termination
				  of the registration, the board shall send written notice of its intent to
				  terminate the registration to all known parties associated with the time-share
				  program, including the registered agent, developer's attorney, and principals
				  of the developer. Such written notice shall be given to the parties by mail or
				  otherwise if acknowledged by them in writing.
B. The board shall issue an order of
				  termination for the time-share program registration if (i) a response is not
				  received within 30 days after sending the written notice, or (ii) the response
				  received does not indicate termination of the registration is inappropriate in
				  accordance with the Virginia Real Estate Time-Share Act and this
				  chapter.
C. Nothing contained in
				  this section shall prevent the board from taking further action as allowed by
				  law including issuance of a temporary cease and desist order, issuance of a
				  cease and desist order, revocation of registration, and bringing action in the
				  appropriate circuit court to enjoin the acts or practices and to enforce
				  compliance.
Statutory Authority: §§
												54.1-2349
						and
						55.1-2247
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VI - Time-Share Program Post-Registration Provisions › Section 18VAC48-45-470 - Reporting of other changes to the time-share program

Current through Register Vol. 40, No. 24, July 15, 2024
Any other change made or known by the developer that may
					 affect the accuracy or completeness of the time-share program registration file
					 shall be reported promptly to the board. Such change may include the name of
					 the developer, name of the time-share program, or any other changes in
					 information submitted in accordance with §
										55.1-2239
					 of the Code of Virginia. The board may request additional information as
					 necessary to ensure compliance with the Virginia Real Estate Time-Share Act and
					 this chapter.
Statutory Authority: §§
												54.1-2349
						and
						55.1-2247
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VII - Alternative Purchase Registration › Section 18VAC48-45-480 - Registration of alternative purchase required

Current through Register Vol. 40, No. 24, July 15, 2024
As required by §
										55.1-2246
					 of the Code of Virginia, a developer shall register an alternative purchase as
					 defined by §
										55.1-2200 of the Code
					 of Virginia.
Statutory Authority: §§
												54.1-2349
						and
						55.1-2247
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VII - Alternative Purchase Registration › Section 18VAC48-45-490 - Application for registration of an alternative purchase

Current through Register Vol. 40, No. 24, July 15, 2024
Application for registration of alternative purchase shall
					 be filed with the board on an application form furnished by the board and shall
					 contain all of the documents and information required by §
										55.1-2246
					 of the Code of Virginia.
Statutory Authority: §§
												54.1-2349
						and
						55.1-2247
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VII - Alternative Purchase Registration › Section 18VAC48-45-500 - Reserved

Current through Register Vol. 40, No. 24, July 15, 2024
Statutory Authority: §§ 54.1-2349 and 55-396
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VII - Alternative Purchase Registration › Section 18VAC48-45-510 - Review of application for registration of an alternative purchase

Current through Register Vol. 40, No. 24, July 15, 2024
At such time as the board affirmatively determines that
					 the requirements of this chapter have been met, the board shall register the
					 alternative purchase. The registration period of the alternative purchase shall
					 expire the last day of the month one year from the date of
					 issuance.
Statutory Authority: §§ 54.1-2349 and 55-396
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VII - Alternative Purchase Registration › Section 18VAC48-45-520 - Minimum alternative purchase post-registration reporting requirements

Current through Register Vol. 40, No. 24, July 15, 2024
A. Subsequent to
				  the issuance of a registration for an alternative purchase by the board, the
				  developer offering the alternative purchase shall do the following:
1. File the annual report required pursuant
				  to 18VAC48-45-540.
2. Upon the
				  occurrence of any material change in the information contained in the
				  registration file, the developer of a registered alternative purchase shall
				  file the material change with the board within 30 days of the effective date of
				  the material change.
3. Submit
				  appropriate documentation to the board once the registration is eligible for
				  termination.
4. Submit to the board
				  any other document or information, which may include information or documents
				  that have been amended or may not have existed previously, that affects the
				  accuracy, completeness, or representation of any information or document filed
				  with the application for registration.
5. Submit to the board any document or
				  information to make the registration file accurate and complete and to ensure
				  compliance with the Virginia Real Estate Time-Share Act and this
				  chapter.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VII - Alternative Purchase Registration › Section 18VAC48-45-530 - Reserved

Current through Register Vol. 40, No. 24, July 15, 2024
Statutory Authority: §§ 54.1-2349 and 55-396
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VII - Alternative Purchase Registration › Section 18VAC48-45-540 - Annual report required for alternative purchase registration

Current through Register Vol. 40, No. 24, July 15, 2024
A. Prior to the
				  expiration of the registration, the developer shall file an annual report in a
				  form approved by the board for the registered alternative purchase affiliated
				  with such time-share program registration. Such alternative purchase annual
				  report shall be accompanied by the fee specified in
				  18VAC48-45-70.
B. The annual report shall contain, but may
				  not be limited to, the following:
1. Current
				  contact information for the developer.
2. Information concerning the current status
				  of the alternative purchase.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VII - Alternative Purchase Registration › Section 18VAC48-45-550 - Reserved

Current through Register Vol. 40, No. 24, July 15, 2024
Statutory Authority: §§ 54.1-2349 and 55-396
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VII - Alternative Purchase Registration › Section 18VAC48-45-560 - Termination of registration for an alternative purchase

Current through Register Vol. 40, No. 24, July 15, 2024
A. The alternative purchase registration
				  shall be terminated upon receipt of written notification from the developer
				  attesting that the developer has ceased sales and requests termination of the
				  alternative purchase. Should the developer later choose to offer alternative
				  purchases for which the registration has been terminated in accordance with
				  this subsection, prior to offering an alternative purchase, the developer must
				  submit a new application for registration of the alternative purchase, meet all
				  requirements in effect at the time of application, and obtain an alternative
				  purchase registration from the board.
B. Upon receipt and review of the
				  notification pursuant to subsection A of this section, the board shall
				  terminate the alternative purchase registration. The board may request
				  additional information as necessary during the review of the submitted
				  notification to ensure that the alternative purchase registration is eligible
				  for termination.
C. An alternative
				  purchase registration shall be automatically terminated for failure to file an
				  acceptable annual report within one year after the expiration of the
				  registration.
Statutory Authority: §§ 54.1-2349 and 55-396
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VII - Alternative Purchase Registration › Section 18VAC48-45-570 - Reporting of other changes to the alternative purchase

Current through Register Vol. 40, No. 24, July 15, 2024
In accordance with subsection B of §
										55.1-2246
					 of the Code of Virginia, any material change made or known by the developer
					 that may affect the accuracy or completeness of the alternative purchase
					 registration file shall be filed with the board within 30 days of the effective
					 date of the change. The board may request additional information as necessary
					 to ensure compliance with the Virginia Real Estate Time-Share Act and this
					 chapter.
Statutory Authority: §§
												54.1-2349
						and
						55.1-2247
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VIII - Exchange Program Registration › Section 18VAC48-45-580 - Registration of exchange program required

Current through Register Vol. 40, No. 24, July 15, 2024
As required by §
										55.1-2219 of
					 the Code of Virginia, an exchange company that offers an exchange program in
					 the Commonwealth shall register the exchange program with the
					 board.
Statutory Authority: §§
												54.1-2349
						and
						55.1-2247
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VIII - Exchange Program Registration › Section 18VAC48-45-590 - Minimum requirements for registration of an exchange program

Current through Register Vol. 40, No. 24, July 15, 2024
An application for registration of an exchange program
					 shall include the following:
1. An
				  application submitted in accordance with 18VAC48-45-50;
2. Current contact information for the
				  exchange company;
3. A disclosure
				  document that complies with §
										55.1-2219 of
				  the Code of Virginia; and
4. A
				  report independently audited by a certified public accountant or accounting
				  firm in accordance with the standards of the Accounting Standards Board of the
				  American Institute of Certified Public Accountants. The report shall provide
				  the following for the preceding calendar year:
a. The number of owners enrolled in the
				  exchange program. Such numbers shall disclose the relationship between the
				  exchange company and owners as being either fee paying or gratuitous in
				  nature;
b. The number of time-share
				  properties, accommodations or facilities eligible to participate in the
				  exchange program;
c. The percentage
				  of confirmed exchanges, which shall be the number of exchanges confirmed by the
				  exchange company divided by the number of exchanges properly applied for,
				  together with a complete and accurate statement of the criteria used to
				  determine whether an exchange request was properly applied for;
d. The number of time-shares for which the
				  exchange company has an outstanding obligation to provide an exchange to an
				  owner who relinquished a time-share during the year in exchange for a
				  time-share in any future year; and
e. The number of exchanges confirmed by the
				  exchange company during the year.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VIII - Exchange Program Registration › Section 18VAC48-45-600 - Minimum exchange program post-registration reporting requirements

Current through Register Vol. 40, No. 24, July 15, 2024
A. Subsequent to
				  the issuance of a registration for an exchange program by the board, the
				  exchange company shall:
1. File an annual
				  report in accordance with subsection E of §
											55.1-2219 of
				  the Code of Virginia and this chapter.
2. Upon the occurrence of a material change
				  to the disclosure document, the exchange company shall file an amended
				  disclosure document in accordance with the provisions of §
											55.1-2219 of
				  the Code of Virginia and this chapter. These amendments shall be filed with the
				  board within 20 business days after the occurrence of the material
				  change.
3. Upon the occurrence of
				  any material change in the information contained in the registration file, the
				  exchange company shall immediately report such material changes to the
				  board.
4. Submit appropriate
				  documentation to the board once the registration is eligible for
				  termination.
5. Submit to the board
				  any other document or information, which may include information or documents
				  that have been amended or may not have existed previously, that affects the
				  accuracy, completeness, or representation of any information or document filed
				  with the application for registration.
6. Submit to the board any document or
				  information to make the registration file accurate and complete to ensure
				  compliance with the Virginia Real Estate Time-Share Act and this
				  chapter.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VIII - Exchange Program Registration › Section 18VAC48-45-610 - Annual report required for an exchange program registration

Current through Register Vol. 40, No. 24, July 15, 2024
A. An exchange
				  company shall file an annual report to update the material contained in the
				  exchange program registration file by July 1 of each year the registration is
				  effective and shall be accompanied by the fee specified in
				  18VAC48-45-70.
B. The annual report
				  shall contain, but may not be limited to, the following:
1. Current contact information for the
				  exchange company;
2. Information
				  concerning the current status of the exchange program; and
3. A report that contains the information in
				  subdivision 4 of
				  18VAC48-45-590
				  and submitted in compliance with subdivision A 17 of §
											55.1-2219 of
				  the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VIII - Exchange Program Registration › Section 18VAC48-45-620 - Board review of annual report for exchange program registration

Current through Register Vol. 40, No. 24, July 15, 2024
A. During review of
				  the annual report, the board may make inquiries or request additional
				  documentation to amplify or clarify the information provided.
B. If the board does not accept the annual
				  report and the annual report filing is not completed within 60 days of a
				  request by the board for additional information, the board may take further
				  action pursuant to §§
										55.1-2247,
				  and
				  55.1-2252 of the Code
				  of Virginia for failing to file an annual report as required by subsection E of
				  §
										55.1-2219 of
				  the Code of Virginia.
C. If the
				  board does not perform the required review of the annual report within 30 days
				  of receipt by the board, the annual report shall be deemed to comply with
				  subsection E of §
										55.1-2219 of
				  the Code of Virginia.
Statutory Authority: §
												54.1-2349
						and
						55.1-2247
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VIII - Exchange Program Registration › Section 18VAC48-45-630 - Termination of an exchange program registration

Current through Register Vol. 40, No. 24, July 15, 2024
A. The exchange program registration shall be
				  terminated upon receipt of written notification from the exchange company
				  indicating that the exchange program is no longer being offered in the
				  Commonwealth. Should the exchange company later choose to offer the exchange
				  program for which the registration has been terminated in accordance with this
				  subsection, prior to offering the exchange program, the exchange company must
				  submit a new application for registration of the exchange program, meet all
				  requirements in effect at the time of application, and be issued an order of
				  registration for the exchange program by the board.
B. Upon receipt and review of the
				  notification pursuant to subsection A of this section, the board shall issue an
				  order of termination for the exchange program registration. The board may
				  request additional information as necessary during the review of the submitted
				  notification to ensure that the exchange program registration is eligible for
				  termination.
Statutory Authority: §§ 54.1-2349 and 55-396
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part VIII - Exchange Program Registration › Section 18VAC48-45-640 - Reporting of other changes to an exchange program

Current through Register Vol. 40, No. 24, July 15, 2024
Any other change made or known by the exchange company
					 that may affect the accuracy or completeness of the exchange program
					 registration file shall be promptly reported to the board. The board may
					 request additional information as necessary to ensure compliance with the
					 Virginia Real Estate Time-Share Act and this chapter.
Statutory Authority: §§ 54.1-2349 and 55-396
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part IX - Time-Share Reseller Registration › Section 18VAC48-45-650 - Registration of time-share reseller required

Current through Register Vol. 40, No. 24, July 15, 2024
In accordance with §
										55.1-2244
					 of the Code of Virginia, a reseller shall not offer or provide any resale
					 service without holding a current time-share reseller registration issued by
					 the board.
Statutory Authority: §§
												54.1-2349
						and
						55.1-2247
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part IX - Time-Share Reseller Registration › Section 18VAC48-45-660 - Exemptions from time-share reseller registration

Current through Register Vol. 40, No. 24, July 15, 2024
Time-share reseller registration shall not apply to the
					 following:
1. A person that solely or
				  with affiliates engages in a resale service with respect to an aggregate of no
				  more than 12 resale time-shares per calendar year;
2. A person that owns or acquires more than
				  12 resale time-shares and subsequently transfers all such resale time-shares to
				  a single purchaser in a single transaction;
3. The owner, owner's agents, and employees
				  of a regularly published newspaper, magazine, or other periodical publication
				  of general circulation; broadcast station; website; or billboard, to the extent
				  their activities are limited to solicitation and publication of advertisements
				  and the transmission of responses to the persons who place the advertisements.
				  Any person that would otherwise be exempt from this chapter pursuant to this
				  section shall not be exempt if the person (i) solicits the placement of the
				  advertisement by representing that the advertisement will generate cash, a
				  certain price, or a similar type of representation for the time-share owner's
				  resale time-share, (ii) makes a recommendation as to the sales price for which
				  to advertise the resale time-share, (iii) makes representations to the person
				  placing the advertisement regarding the success rate for selling resale
				  time-shares advertised with such person, or (iv) makes misrepresentations as
				  described in this chapter;
4. Sale
				  by a developer or a party acting on its behalf of a resale time-share under a
				  current registration of the time-share program in which the resale time-share
				  is included;
5. Sale by an
				  association, managing entity, or a party acting on its behalf of a resale
				  time-share owned by the association provided the sale is in compliance with
				  subsection C of §
										55.1-2228;
				  or
6. Attorneys, title agents,
				  title companies, or escrow companies providing closing services in connection
				  with the transfer of a resale time-share.
Statutory Authority: §§
												54.1-2349
						and
						55.1-2247
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part IX - Time-Share Reseller Registration › Section 18VAC48-45-670 - Requirements for registration as a time-share reseller

Current through Register Vol. 40, No. 24, July 15, 2024
A. Individuals or firms that provide any
				  time-share resale services shall submit an application on a form prescribed by
				  the board and shall meet the requirements of this section, including:
1. The information contained in §
											55.1-2244
				  of the Code of Virginia.
2. The
				  application fee specified in
				  18VAC48-45-70.
3. All contact information applicable to the
				  time-share reseller and the lead dealer.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part IX - Time-Share Reseller Registration › Section 18VAC48-45-680 - Exhibits required for registration as a time-share reseller

Current through Register Vol. 40, No. 24, July 15, 2024
A. The following
				  documents shall be included as exhibits to the application for registration.
				  All exhibits shall be labeled as indicated and submitted in a format acceptable
				  to the board.
1. Exhibit A: A copy of the
				  certificate of incorporation or certificate of authority to transact business
				  in Virginia issued by the Virginia State Corporation Commission, or any other
				  entity formation documents, together with any trade or fictitious name
				  certificate.
2. Exhibit B: A copy
				  of the resale purchase contract.
3.
				  Exhibit C: A copy of the resale transfer contract.
4. Exhibit D: A copy of disclosures required
				  by §
											55.1-2228
				  of the Code of Virginia.
5. Exhibit
				  E: A narrative description of the marketing or advertising
				  plan.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part IX - Time-Share Reseller Registration › Section 18VAC48-45-690 - Renewal and reinstatement of a time-share reseller registration

Current through Register Vol. 40, No. 24, July 15, 2024
A. A time-share
				  reseller registration issued under this chapter shall expire one year from the
				  last day of the month in which it was issued. The fee specified in
				  18VAC48-45-70 shall be required for renewal.
B. Prior to the expiration date shown on the
				  registration, a registration shall be renewed upon payment of the fees
				  specified in 18VAC48-45-70.
C. The
				  board will send a renewal notice to the regulant at the last known address of
				  record. Failure to receive this notice shall not relieve the regulant of the
				  obligation to renew. If the regulant fails to receive the renewal notice, a
				  copy of the registration may be submitted with the required fees as an
				  application for renewal. By submitting a renewal fee, the regulant is
				  certifying continued compliance with this chapter, as applicable, and
				  certifying that all documents required for registration pursuant to
				  18VAC48-45-680
				  on file with the board reflect the most current version used by the
				  reseller.
D. If the requirements
				  for renewal of a registration as specified in this chapter are not completed
				  more than 30 days and within six months after the registration expiration date,
				  the reinstatement fee specified in 18VAC48-45-70 shall be required.
E. A registration may be reinstated for up to
				  six months following the expiration date. After six months, the registration
				  may not be reinstated under any circumstances, and the firm or individual must
				  meet all current entry requirements and apply as a new applicant.
F. The board may deny renewal or
				  reinstatement of registration for the same reasons as it may refuse initial
				  registration or discipline a registrant.
G. The date the renewal application and fee
				  are received in the office of the board shall determine whether a registration
				  shall be renewed without reinstatement, or shall be subject to reinstatement
				  application procedures.
H. A
				  registration that is reinstated shall be regarded as having been continuously
				  registered without interruption. Therefore, the registration holder shall
				  remain under the disciplinary authority of the board during the entire period
				  and shall be accountable for its activities during the period. Nothing in this
				  chapter shall divest the board of its authority to discipline a registration
				  holder for a violation of the law or regulation during the period of time for
				  which the regulant was registered.
I. Applicants for renewal shall continue to
				  meet all of the qualifications for registration set forth in
				  18VAC48-45-680.
Statutory Authority: §§
												54.1-2349
						and
						55.1-2247
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part IX - Time-Share Reseller Registration › Section 18VAC48-45-700 - Maintenance of time-share reseller registration

Current through Register Vol. 40, No. 24, July 15, 2024
Any material changes made or known by the time-share
					 reseller that may affect the accuracy or completeness of the time-share
					 reseller registration file shall be promptly reported to the board. The board
					 may request additional information as necessary to ensure compliance with the
					 Virginia Real Estate Time-Share Act and this chapter.
Statutory Authority: §§ 54.1-2349 and 55-396
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part IX - Time-Share Reseller Registration › Section 18VAC48-45-710 - Recordkeeping for a time-share reseller registration

Current through Register Vol. 40, No. 24, July 15, 2024
A time-share reseller registered by the board shall comply
					 with the recordkeeping provisions of §
										55.1-2245
					 of the Code of Virginia.
Statutory Authority: §§
												54.1-2349
						and
						55.1-2247
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part X - Board Authority and Standards of Conduct › Section 18VAC48-45-720 - Grounds for disciplinary action

Current through Register Vol. 40, No. 24, July 15, 2024
The board may revoke a registration that is not in
					 compliance with any provision of the regulations of the board or the Virginia
					 Real Estate Time-Share Act. Additional action may include issuance of a
					 temporary cease and desist order, issuance of a cease and desist order, and
					 bringing action in the appropriate circuit court to enjoin the acts or
					 practices and to enforce compliance.
Statutory Authority: §§ 54.1-2349 and 55-396
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part X - Board Authority and Standards of Conduct › Section 18VAC48-45-730 - Registration required

Current through Register Vol. 40, No. 24, July 15, 2024
A. No
				  developer or agent of a developer shall offer a time-share prior to the
				  registration of the time-share program.
B. No developer or agent of a developer shall
				  offer an alternative purchase prior to the registration of the alternative
				  purchase by the developer.
C. No
				  exchange company or agent of an exchange company shall offer an exchange
				  program prior to the registration of the exchange program by the exchange
				  company.
D. No time-share reseller
				  or agent of a time-share reseller shall offer any resale services prior to the
				  registration of the time-share reseller.
Statutory Authority: §§
												54.1-2349
						and
						55.1-2247
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part X - Board Authority and Standards of Conduct › Section 18VAC48-45-740 - Time-share advertising standards

Current through Register Vol. 40, No. 24, July 15, 2024
A. No promise, assertion, representation, or
				  statement of fact or opinion in connection with a time-share marketing activity
				  shall be made that is false, inaccurate or misleading by reason of inclusion of
				  an untrue statement of a material fact or omission of a statement of a material
				  fact relative to the actual or intended characteristics, circumstances, or
				  features of a time-share program.
B. No promise, assertion, representation, or
				  statement of fact or opinion made in connection with a time-share marketing
				  activity shall indicate that a unit or common element will be built or placed
				  on the time-share unless proposed within the meaning of subsection A of
				  18VAC48-45-200.
C. No promise, assertion, representation, or
				  statement of fact or opinion made in connection with a time-share marketing
				  activity and relating to a time-share program not registered shall, by its
				  express terms, induce, solicit, or encourage a contract for sale or performing
				  some other act that would create or purport to create a legal or equitable
				  interest in the time-share, other than a security interest in or a nonbinding
				  reservation of the time-share, when to do so would circumvent the provisions of
				  the Virginia Real Estate Time-Share Act.
Statutory Authority: §§
												54.1-2349
						and
						55.1-2247
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part X - Board Authority and Standards of Conduct › Section 18VAC48-45-750 - Board oversight of public offering statement and exchange program disclosure document

Current through Register Vol. 40, No. 24, July 15, 2024
A. The
				  board at any time may require a developer to alter or amend the public offering
				  statement for a time-share or an exchange program disclosure document to assure
				  full and accurate disclosure to prospective purchasers and to ensure compliance
				  with the Virginia Real Estate Time-Share Act and this chapter.
B. The board does not approve or recommend
				  the time-share or exchange program, or disposition thereof. The board's
				  issuance of an effective date for a public offering statement or acceptance of
				  an exchange program disclosure document shall not be construed to (i)
				  constitute approval of the time-share or exchange program; (ii) represent that
				  the board asserts that either all facts or material changes or both concerning
				  the time-share or exchange program have been fully and accurately disclosed; or
				  (iii) indicate that the board has made judgment on the value or merits of the
				  time-share or exchange program.
Statutory Authority: §§ 54.1-2349 and 55-396
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Part X - Board Authority and Standards of Conduct › Section 18VAC48-45-760 - Response to inquiry and provision of records

Current through Register Vol. 40, No. 24, July 15, 2024
A. The developer, exchange company, or
				  reseller must respond within 15 days to a request by the board or any of its
				  agents regarding any complaint filed with the department. The board may extend
				  such timeframe upon a showing of extenuating circumstances prohibiting delivery
				  within such 15-day period.
B.
				  Unless otherwise specified by the board, the developer, exchange company, or
				  reseller shall produce to the board or any of its agents within 15 days of the
				  request any document, book, or record concerning any transaction in which the
				  developer, exchange company, or reseller was involved, or for which the
				  developer, exchange company, or reseller is required to maintain records, for
				  inspection and copying by the board or its agents. The board may extend such
				  timeframe upon a showing of extenuating circumstances prohibiting delivery
				  within such 15-day period.
C. A
				  developer, exchange company, or reseller shall not provide a false, misleading,
				  or incomplete response to the board or any agent of the board seeking
				  information in the investigation of a complaint filed with the board.
D. With the exception of the requirements of
				  subsections A and B of this section, a developer, exchange company, or reseller
				  must respond to an inquiry by the board or its agent within 21 days.
Statutory Authority: §§ 54.1-2349 and 55-396
						of the Code of Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 45 - TIME-SHARE REGULATIONS › Form - FORMS (18VAC48-45)

Current through Register Vol. 40, No. 24, July 15, 2024
Time-Share
				  Registration/Amendment Application A492-0515REG-v7 (eff. 8/2023)
Time-Share
				  Program Annual Report A492-0515ANRPT-v6 (eff. 3/2021)
Time-Share
				  Building Status Form A492-0515BLDST-v2 (eff. 3/2021)
Time-Share
				  Bond/Letter of Credit Verification Form A492-0515BOND-v4 (eff.
				  3/2021)
Time-Share
				  Exchange Program Registration Application A492-0516REG-v3 (eff.
				  4/2020)
Time-Share
				  Exchange Program Annual Report A492-0516ANRPT-v2 (eff. 1/2020)
Alternative
				  Purchase Registration Application A492-0524REG-v4 (eff. 3/2021)
Alternative
				  Purchase Annual Report A492-0524ANRPT-v3 (eff. 3/2021)
Time-Share
				  Reseller Registration Application A492-0525REG-v4 (eff. 4/2020)
Time-Share
				  Reseller Lead Dealer Change Form A492-0525LDCHG-v2 (eff. 1/2020)
Statutory Authority: §§
											54.1-2349 and
					 55.1-2247 of the Code of
					 Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 50 - COMMON INTEREST COMMUNITY MANAGER REGULATIONS › Part II - Entry › Section 18VAC48-50-20 - Application procedures

Current through Register Vol. 40, No. 24, July 15, 2024
All applicants seeking licensure or certification shall
					 submit an application with the appropriate fee specified in
					 18VAC48-50-60. Application shall
					 be made on forms provided by the board or its agent.
By submitting the application to the department, the
					 applicant certifies that the applicant has read and understands the applicable
					 statutes and the board's regulations.
The receipt of an application and the deposit of fees by
					 the board does not indicate approval by the board.
The board may make further inquiries and investigations
					 with respect to the applicant's qualifications to confirm or amplify
					 information supplied. All applications shall be completed in accordance with
					 the instructions contained herein and on the application. Applications will not
					 be considered complete until all required documents are received by the
					 board.
An individual or firm will be notified within 30 days of
					 the board's receipt of an initial application if the application is incomplete.
					 An individual or firm that fails to complete the process within 12 months of
					 receipt of the application in the board's office must submit a new application
					 and fee.
Statutory Authority
§ 54.1-2349 of the Code of
						Virginia.
Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 50 - COMMON INTEREST COMMUNITY MANAGER REGULATIONS › Part II - Entry › Section 18VAC48-50-30 - Qualifications for licensure as a common interest community manager

Current through Register Vol. 40, No. 24, July 15, 2024
A. Firms that
				  provide common interest community management services shall submit an
				  application on a form prescribed by the board and shall meet the requirements
				  set forth in § 54.1-2346 of the Code of Virginia, as well as the
				  additional qualifications of this section.
B. Any firm offering management services as
				  defined in § 54.1-2345 of the Code of Virginia shall hold a license as a
				  common interest community manager. All names under which the common interest
				  community manager conducts business shall be disclosed on the application. The
				  name under which the firm conducts business and holds itself out to the public
				  (i.e., the trade or fictitious name) shall also be disclosed on the
				  application. Firms shall be organized as business entities under the laws of
				  the Commonwealth of Virginia or otherwise authorized to transact business in
				  Virginia. Firms shall register any trade or fictitious names with the State
				  Corporation Commission in accordance with Chapter 5 of Title 59.1 (§
				  59.1-69 et seq.) of the Code of Virginia before submitting an application to
				  the board.
C. The applicant for a
				  common interest community manager license shall disclose the firm's mailing
				  address, the firm's physical address, and the address of the office from which
				  the firm provides management services to Virginia common interest communities.
				  A post office box is only acceptable as a mailing address when a physical
				  address is also provided.
D. In
				  accordance with § 54.1-204 of the Code of Virginia, each applicant for a
				  common interest community manager license shall disclose the following
				  information about the firm, the responsible person, and any of the principals
				  of the firm:
1. All felony
				  convictions.
2. All misdemeanor
				  convictions, except marijuana convictions, in any jurisdiction that occurred
				  within three years of the date of application.
3. Any plea of nolo contendere or finding of
				  guilt regardless of adjudication or deferred adjudication shall be considered a
				  conviction for the purposes of this section. The record of conviction certified
				  or authenticated in such form as to be admissible in evidence under the laws of
				  the jurisdiction where convicted shall be admissible as prima facie evidence of
				  such guilt.