Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 48 - COMMON INTEREST COMMUNITY BOARD › Chapter 30 - CONDOMINIUM REGULATIONS › Part III - Application for Registration › Section 18VAC48-30-110 - Review of application for registration

Current through Register Vol. 40, No. 24, July 15, 2024
A. Upon receipt of an application for
				  registration, the board shall issue the notice of filing required by subsection
				  A of §
										55.1-1978
				  of the Code of Virginia.
B. Upon
				  the review of the application for registration, if the requirements of
				  §§
										55.1-1975
				  and
				  55.1-1977
				  of the Code of Virginia have not been met, the board shall notify the applicant
				  as required by subsection C of §
										55.1-1978
				  of the Code of Virginia.
C. A
				  request for an extension of the 60-day application review period described in
				  §
										55.1-1978
				  of the Code of Virginia shall be in writing and shall be delivered to the board
				  prior to the expiration of the period being extended. The request shall be for
				  an extension of definite duration. The board may grant in writing a request for
				  an extension of the application review period, and it may limit the extension
				  to a period not longer than is reasonably necessary to permit correction of the
				  application. An additional extension of the application review period may be
				  obtained, subject to the conditions applicable to the initial request. A
				  request for an extension of the application review period shall be deemed a
				  consent to delay within the meaning of subsection A of §
										55.1-1978
				  of the Code of Virginia.
D. If the
				  requirements for registration are not met within the application review period
				  or a valid extension thereof, the board shall, upon the expiration of such
				  period, enter an order rejecting the registration as required by subsection C
				  of §
										55.1-1978
				  of the Code of Virginia.
E. An
				  applicant may submit a written request for an informal conference in accordance
				  with §
										2.2-4019
				  of the Code of Virginia at any time between receipt of a notification pursuant
				  to subsection B of this section and the effective date of the order of
				  rejection entered pursuant to subsection D of this section. A request for such
				  proceeding shall be deemed a consent to delay within the meaning of subsection
				  A of §
										55.1-1978
				  of the Code of Virginia.
F. The
				  board shall receive and act upon corrections to the application for
				  registration at any time prior to the effective date of an order rejecting the
				  registration. If the board determines after review of the corrections that the
				  requirements for registration have not been met, the board may proceed with an
				  informal conference in accordance with §
										2.2-4019
				  of the Code of Virginia to allow reconsideration of whether the requirements
				  for registration are met. If the board does not opt to proceed with an informal
				  conference, the applicant may submit a written request for an informal
				  conference in accordance with §
										2.2-4019
				  of the Code of Virginia to reconsider whether the requirements for registration
				  are met. If the board does not proceed with an informal conference and no
				  request for an informal conference is received from the applicant, an amended
				  order of rejection stating the factual basis for the rejection shall be issued.
				  A new 20-day period for the order of rejection to become effective shall
				  commence.
G. At such time as the
				  board affirmatively determines that the requirements of §§
										55.1-1975
				  and
				  55.1-1977
				  of the Code of Virginia have been met, the board shall enter an order
				  registering the condominium and shall designate the form, content, and
				  effective date of the public offering statement, substituted public offering
				  statement, or prospectus to be used.
Statutory Authority: §
												54.1-2349
						of the Code of Virginia.