VIRGINIA LAW PORTAL

• Code of Virginia
• Virginia Administrative Code
• Constitution of Virginia
• Charters
• Authorities
• Compacts
• Uncodified Acts
• RIS Users (account required)

SEARCHABLE DATABASES

• Bills & Resolutions
  session legislation
• Bill Summaries
  session summaries
• Reports to the General Assembly
  House and Senate documents
• Legislative Liaisons
  State agency contacts

ACROSS SESSIONS

• Subject Index: Since 1995
• Bills & Resolutions: Since 1994
• Summaries: Since 1994

Developed and maintained by the Division of Legislative Automated Systems.

2018 SESSION

• | print version

SB 706 Common interest communities; reserves for capital components, budget.

Introduced by: Scott A. Surovell | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Common interest communities; reserves for capital components; budget. Requires the budget for a common interest community to include a statement detailing the amount of any shortage or excess of total cash reserves, as indicated by the five-year cash reserves study, and the amount of such shortage or excess per capita for each member of the association. The bill also provides that the failure of any member of the governing body or officer of the association to comply with provisions relating to reserves for capital components shall constitute prima facie evidence of a breach of fiduciary duty on the part of the board member or officer.

FULL TEXT

• 01/10/18  Senate: Prefiled and ordered printed; offered 01/10/18 18104654D  pdf | impact statement

HISTORY

• 01/10/18  Senate: Prefiled and ordered printed; offered 01/10/18 18104654D
• 01/10/18  Senate: Referred to Committee on General Laws and Technology
• 01/22/18  Senate: Passed by indefinitely in General Laws and Technology with letter (10-Y 0-N)