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2010 SESSION

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SB 419 Property Owners' Association Act; control of association by declarant.

Introduced by: Jill Holtzman Vogel | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

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.


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