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2013 SESSION
13100753DBe it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding in Title 55 a chapter numbered 23.1, consisting of a section numbered 55-423.1, as follows:
§ 55-423.1. Definitions; required disclosure by developer.
A. As used in this chapter, unless the context requires a different meaning:
"Developer-owned country club" means a club with a clubhouse and grounds, offering various social activities and generally having facilities for tennis, golf, swimming, or other sports, that is owned by the developer of the real estate where the country club is located. "Country club" does not include any member-owned facilities.
"Member" means a person who pays dues and fees to belong to a country club.
B. For any refundable deposit paid by a member for the use of a country club that is not held in an account segregated from other accounts of the owner of the country club, the owner shall provide each member with an annual statement of the status of his refundable deposits and, if any such deposit has been used by the owner, the purpose for which the deposit was used.