There is a newer version of the Code of Virginia
2016 Code of Virginia
Title 55 - Property and Conveyances
Chapter 24 - Virginia Real Estate Cooperative Act
Article 1. General Provisions
- § 55-424. Title
- § 55-425. Applicability
- § 55-426. Definitions
- § 55-427. Variation by agreement
- § 55-428. Property classification of cooperative interests; taxation
- § 55-429. Applicability of local ordinances, regulations and building codes; county and municipal authority
- § 55-430. Eminent domain
- § 55-431. General principles of law applicable
- § 55-432. Construction against implicit repeal
- § 55-433. Uniformity of application and construction
- § 55-434. Unconscionable agreement or term of contract
- § 55-435. Obligation of good faith
- § 55-436. Remedies to be liberally administered
- § 55-437. Repealed
Article 2. Creation, Alteration and Termination of Cooperatives
- § 55-438. Creation of cooperative ownership
- § 55-439. Unit boundaries
- § 55-440. Construction and validity of declaration and bylaws
- § 55-441. Description of units
- § 55-442. Contents of declaration
- § 55-443. Leasehold cooperatives
- § 55-444. Allocation of ownership interests, votes and common expense liabilities
- § 55-445. Limited common elements
- § 55-446. Exercise of development rights
- § 55-447. Alterations of units
- § 55-448. Relocation of boundaries between adjoining units
- § 55-449. Subdivision of units
- § 55-450. Easement for encroachments
- § 55-451. Use for sales purposes
- § 55-452. Easement rights
- § 55-453. Amendment of declaration
- § 55-454. Termination of cooperative ownership
- § 55-455. Rights of secured lenders
- § 55-456. Master associations
- § 55-457. Merger or consolidation of cooperatives
Article 3. Management of Cooperatives
- § 55-458. Organization of the association
- § 55-459. Powers of the association
- § 55-460. Executive board members and officers
- § 55-461. Transfer of special declarant rights
- § 55-462. Termination of contracts and leases of declarant
- § 55-463. Bylaws
- § 55-464. Upkeep of cooperative
- § 55-464.1. Common elements; notice of pesticide application
- § 55-465. Meetings
- § 55-466. Quorums
- § 55-467. Voting; proxies
- § 55-468. Tort and contract liability
- § 55-469. Conveyance or encumbrance of the cooperative
- § 55-470. Insurance
- § 55-471. Assessments for common expenses
- § 55-471.1. Reserves for capital components
- § 55-472. Remedies for nonpayment of assessments
- § 55-473. Other liens affecting the cooperative
- § 55-473.1. Limitation of assumption of debt and encumbrances
- § 55-474. Association records
- § 55-475. Association as trustee
Article 4. Protection of Cooperative Purchasers
- § 55-476. Applicability; waiver
- § 55-477. Liability for public offering statement; requirements
- § 55-478. Public offering statement; general provisions
- § 55-479. Public offering statement; cooperatives subject to development rights
- § 55-480. Public offering statement; time shares
- § 55-481. Public offering statement; cooperatives containing conversion building
- § 55-482. Public offering statement; cooperative securities
- § 55-483. Purchaser's right to cancel
- § 55-484. Resales of cooperative interests
- § 55-485. Escrow of deposits
- § 55-486. Release of liens
- § 55-487. Conversion buildings
- § 55-488. Express warranties of quality
- § 55-489. Implied warranties of quality
- § 55-490. Exclusion or modification of implied warranties of quality
- § 55-491. Statute of limitations for warranties
- § 55-492. Effect of violation on rights of action; attorney's fees; arbitration of disputes
- § 55-493. Labeling of promotional material
- § 55-494. Declarant's obligation to complete and restore
- § 55-495. Substantial completion of units
Article 5. Administration and Registration of Cooperatives
- § 55-496. Administrative agency
- § 55-497. Registration required
- § 55-498. Application for registration; approval of uncompleted unit
- § 55-499. Receipt of application; order or registration
- § 55-500. Cease and desist order
- § 55-501. Revocation of registration
- § 55-502. General powers and duties of agency
- § 55-503. Investigative powers of agency
- § 55-504. Annual report and amendments
- § 55-504.1. Annual report by associations
- § 55-505. Agency regulation of public offering statement
- § 55-506. Penalties
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