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2009 SESSION
SB 1366 Property Owners' Association Act; control of association by declarant.
Introduced by: George L. Barker | all patrons ... notes | add to my profiles
SUMMARY AS PASSED SENATE: (all summaries)
Virginia Property Owners' Association Act; control of association by declarant. Provides that a declaration may provide for declarant control of an association and its board of directors until (i) three months after 80 percent of all lots that the declarant has reserved the right to develop in all phases of development have been conveyed to a person other than a declarant or builder and (ii) the number of lots not yet developed is less than 200. The bill also provides that the declarant has the right to develop all additional lots in accordance with provisions in effect at the time of transfer of control and gives the declarant a seat on the board of the association until such time as all lots have been conveyed to a person other than a declarant or a builder. In addition, the bill requires all association funds collected during the period of declarant control to be maintained separately in the association's name unless held by a title company or common interest community manager. The bill prohibits the declarant from using association funds to defend any civil or criminal action, or administrative or arbitration proceeding that has been filed or initiated against the declarant.
FULL TEXT
- 01/14/09 Senate: Prefiled and ordered printed; offered 01/14/09 092339201 pdf
- 02/04/09 Senate: Committee substitute printed 092430201-S1 pdf
HISTORY
- 01/14/09 Senate: Prefiled and ordered printed; offered 01/14/09 092339201
- 01/14/09 Senate: Referred to Committee on General Laws and Technology
- 02/04/09 Senate: Reported from General Laws and Technology with substitute (9-Y 6-N)
- 02/04/09 Senate: Committee substitute printed 092430201-S1
- 02/06/09 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/09/09 Senate: Read second time
- 02/09/09 Senate: Reading of substitute waived
- 02/09/09 Senate: Committee substitute agreed to 092430201-S1
- 02/09/09 Senate: Engrossed by Senate - committee substitute SB1366S1
- 02/10/09 Senate: Read third time and passed Senate (27-Y 13-N)
- 02/13/09 House: Placed on Calendar
- 02/13/09 House: Read first time
- 02/13/09 House: Referred to Committee on General Laws
- 02/28/09 House: Left in General Laws