2006 Code of Virginia § 55-514 - Authority to levy special assessments

55-514. Authority to levy special assessments.

A. In addition to all other assessments which are authorized in thedeclaration, the board of directors of an association shall have the power tolevy a special assessment against its members if the purpose in so doing isfound by the board to be in the best interests of the association and theproceeds of the assessment are used primarily for the maintenance and upkeepof the common area and such other areas of association responsibilityexpressly provided for in the declaration, including capital expenditures. Amajority of votes cast, in person or by proxy, at a meeting of the membershipconvened in accordance with the provisions of the association's bylaws withinsixty days of promulgation of the notice of the assessment shall rescind orreduce the special assessment. No director or officer of the associationshall be liable for failure to perform his fiduciary duty if a specialassessment for the funds necessary for the director or officer to perform hisfiduciary duty is rescinded by the owners pursuant to this section, and theassociation shall indemnify such director or officer against any damageresulting from any claimed breach of fiduciary duty arising therefrom.

B. The failure of a member to pay the special assessment allowed bysubsection A shall entitle the association to the lien provided by 55-516as well as any other rights afforded a creditor under law.

C. The failure of a member to pay the special assessment allowed bysubsection A will provide the association with the right to deny the memberaccess to any or all of the common areas. Notwithstanding the immediatelypreceding sentence, direct access to the member's lot over any road withinthe development which is a common area shall not be denied the member.

(1989, c. 679; 1991, c. 667; 1992, c. 450; 1998, cc. 32, 751.)