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1998 SESSION
HB 1105 Real Estate Time-Share Act.
Introduced by: James F. Almand | all patrons ... notes | add to my profiles
SUMMARY:
Virginia Real Estate Time-Share Act. Adds and clarifies certain definitions, especially "material change." The bill also (i) changes the term "amenities" to "common elements;" (ii) removes the requirement that time-share associations be incorporated under the Virginia Nonstock Corporation Act; (iii) removes the ability of a time-share purchase to have a recordable statement of any unpaid regulator or special assessments levied against the time-share; (iv) limits attendance at board meetings to those members eligible to vote and in good standing in the association; (v) removes the requirement that the developer, during the developer control period, prepare and distribute the annual report, and instead makes the association responsible for this; (vi) relieves the developer of the obligation to maintain general liability insurance and places that responsibility on the association; and (vii) exempts any product registered with the Real Estate Board from the Virginia Home Solicitation Sales Act and the Prizes and Gifts Act.
FULL TEXT
- 01/26/98 House: Presented & ordered printed 981548112 pdf
- 02/12/98 House: Committee substitute printed 981574112-H1 pdf
- 03/06/98 House: Bill text as passed House and Senate (HB1105ER) pdf
- 04/21/98 Governor: Acts of Assembly Chapter text (CHAP0460) pdf
HISTORY
- 01/26/98 House: Presented & ordered printed 981548112
- 01/26/98 House: Referred to Committee on General Laws
- 01/28/98 House: Assigned to General Laws sub-committee: 1
- 02/12/98 House: Committee substitute printed 981574112-H1
- 02/12/98 House: Reported from General Laws with sub. (26-Y 0-N)
- 02/12/98 House: Read first time
- 02/13/98 House: Passed by for the day
- 02/14/98 House: Read second time
- 02/14/98 House: Committee substitute agreed to 981574112-H1
- 02/14/98 House: Engrossed by House - com. sub. 981574112-H1
- 02/15/98 House: Read third time and passed House (Block Vote) (99-Y 0-N)
- 02/15/98 House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
- 02/15/98 House: Communicated to Senate
- 02/16/98 Senate: Constitutional reading dispensed
- 02/16/98 Senate: Referred to Committee on General Laws
- 02/25/98 Senate: Reported from General Laws (15-Y 0-N)
- 02/26/98 Senate: Const. reading disp., passed by for the day (39-Y 0-N)
- 02/26/98 Senate: VOTE: CONST. RDG. DISPENSED R (39-Y 0-N)
- 02/27/98 Senate: Read third time
- 02/27/98 Senate: Passed Senate (39-Y 0-N)
- 02/27/98 Senate: VOTE: PASSAGE R (39-Y 0-N)
- 03/06/98 House: Bill text as passed House and Senate (HB1105ER)
- 03/12/98 House: Enrolled
- 03/13/98 House: Signed by Speaker
- 03/14/98 Senate: Signed by President
- 04/14/98 Governor: Approved by Governor-Chapter 460 (effective 7/1/98)
- 04/21/98 Governor: Acts of Assembly Chapter text (CHAP0460)