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SB 1008 Condominium and Property Owners' Association Acts; statement of unit and lot owner rights.
SUMMARY AS PASSED SENATE: (all summaries)
Condominium and Property Owners' Association Acts; statement of unit and lot owner rights. Provides that every unit owner under the Virginia Condominium Act and every lot owner under the Property Owners' Association Act who is a member in good standing of the unit owners' association or property owners' association has the right (i) of access to all books and records kept by or on behalf of the association, (ii) to cast a vote on any matter requiring a vote by the association's membership in proportion to the unit or lot owner's ownership interest, (iii) to have notice of any meeting of the executive organ or board of directors and to record and participate in such meeting, (iv) to have notice of any proceeding conducted against the unit or lot owner to enforce any rule or regulation of the association and the opportunity to be heard and represented by counsel at such proceeding, and (v) to serve on the executive organ or board of directors if duly elected.