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2011 SESSION

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SB 1253 Virginia 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 allow for declarant control of an association and its board of directors until 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. 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. In addition, the bill prohibits, unless the declaration expressly provides otherwise, a declarant from amending the declaration to extend the period of declarant control including the power to appoint and remove some or all of the members of the board of directors or to exercise powers and responsibilities otherwise assigned to the board of directors or association unless the amendment is agreed to by 100 percent of the votes of the association.


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