2006 Code of Virginia § 55-510 - Access to association records; meetings of the board of directors
55-510. Access to association records; meetings of the board of directors.
A. The association shall keep detailed records of receipts and expendituresaffecting the operation and administration of the association. All financialbooks and records shall be kept in accordance with generally acceptedaccounting practices.
B. Subject to the provisions of subsection C, all books and records kept byor on behalf of the association, including, but not limited to, theassociation's membership list and addresses, which shall not be used forpurposes of pecuniary gain or commercial solicitation, and aggregate salaryinformation of employees of the association, shall be available forexamination and copying by a member in good standing or his authorized agentso long as the request is for a proper purpose related to his membership inthe association. This right of examination shall exist without reference tothe duration of membership and may be exercised (i) only during reasonablebusiness hours or at a mutually convenient time and location and (ii) uponfive days' written notice reasonably identifying the purpose for the requestand the specific books and records of the association requested.
C. Books and records kept by or on behalf of an association may be withheldfrom inspection and copying to the extent that they concern:
1. Personnel matters relating to specific, identified persons or a person'smedical records;
2. Contracts, leases, and other commercial transactions to purchase orprovide goods or services, currently in or under negotiation;
3. Pending or probable litigation. Probable litigation means those instanceswhere there has been a specific threat of litigation from a party or thelegal counsel of a party;
4. Matters involving state or local administrative or other formalproceedings before a government tribunal for enforcement of the associationdocuments or rules and regulations promulgated pursuant to 55-513;
5. Communications with legal counsel which relates to subdivisions 1 through4 or which is protected by the attorney-client privilege or the attorney workproduct doctrine;
6. Disclosure of information in violation of law;
7. Meeting minutes or other confidential records of an executive session ofthe board of directors held in accordance with subsection C of 55-510.1;
8. Documentation, correspondence or management or board reports compiled foror on behalf of the association or the board by its agents or committees forconsideration by the board in executive session; or
9. Individual unit owner or member files, other than those of the requestinglot owner, including any individual lot owner's or member's files kept by oron behalf of the association.
D. Prior to providing copies of any books and records to a member in goodstanding under this section, the association may impose and collect a charge,reflecting the reasonable costs of materials and labor, not to exceed theactual costs thereof.
E. Meetings of the association shall be held in accordance with theprovisions of the bylaws at least once each year after the formation of theassociation. The bylaws shall specify an officer or his agent who shall, atleast 14 days in advance of any annual or regularly scheduled meeting, and atleast seven days in advance of any other meeting, send to each member noticeof the time, place, and purposes of such meeting. Notice shall be sent byUnited States mail to all members at the address of their respective lots andto such other addresses as any of them may have designated to such officer orhis agent; or notice may be hand delivered by the officer or his agent,provided the officer or his agent certifies in writing that notice wasdelivered to the member. Except as provided in subdivision C 7, draft minutesof the board of directors shall be open for inspection and copying (i) within60 days from the conclusion of the meeting to which such minutes appertain or(ii) when such minutes are distributed to board members as part of an agendapackage for the next meeting of the board of directors, whichever occursfirst.
(1989, c. 679; 1991, c. 667; 1992, cc. 69, 71; 1993, cc. 365, 827; 1999, cc.594, 654, 1029; 2000, cc. 905, 1008; 2001, c. 419; 2003, c. 442; 2004, c.193.)
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