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2024 SESSION

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24102884D
HOUSE BILL NO. 723 Offered January 10, 2024 Prefiled January 9, 2024 A BILL to amend and reenact § 13.1-866 of the Code of Virginia, relating to Virginia Nonstock Corporation Act; notice of board of directors' meetings. ---------- Patrons-- Webert, Convirs-Fowler and Lovejoy ---------- Referred to Committee on Labor and Commerce ----------

Be it enacted by the General Assembly of Virginia:

1. That § 13.1-866 of the Code of Virginia is amended and reenacted as follows:

§ 13.1-866. Notice of board of directors' meetings.

A. Unless the articles of incorporation or bylaws provide otherwise, regular meetings of the board of directors may be held without notice of the date, time, place, or purpose of the meeting.

B. Special meetings of the board of directors shall be held upon such notice as is prescribed in the articles of incorporation or bylaws, or when not inconsistent with the articles of incorporation or bylaws, by resolution of the board of directors. The notice need not describe the purpose of the special meeting unless required by the articles of incorporation or bylaws.All meetings of the board of directors, including any subcommittee or other committee of the board of directors, where the business of the association is discussed or transacted shall be open to all members of record. Notice of the time, date, and place of each meeting of the board of directors or of any subcommittee or other committee of the board of directors shall be published where it is reasonably calculated to be available to a majority of the lot owners.