2006 Code of Virginia § 55-515.1 - Amendment to declaration and bylaws; consent of mortgagee

55-515.1. Amendment to declaration and bylaws; consent of mortgagee.

A. In the event that any provision in the declaration requires the writtenconsent of a mortgagee in order to amend the bylaws or the declaration, theassociation shall be deemed to have received the written consent of amortgagee if the association sends the text of the proposed amendment bycertified mail, return receipt requested, or by regular mail with proof ofmailing to the mortgagee at the address supplied by such mortgagee in awritten request to the association to receive notice of proposed amendmentsto the declaration and receives no written objection to the adoption of theamendment from the mortgagee within 60 days of the date that the notice ofamendment is sent by the association, unless the declaration expresslyprovides otherwise. If the mortgagee has not supplied an address to theassociation, the association shall be deemed to have received the writtenconsent of a mortgagee if the association sends the text of the proposedamendment by certified mail, return receipt requested, to the mortgagee atthe address filed in the land records or with the local tax assessor'soffice, and receives no written objection to the adoption of the amendmentfrom the mortgagee within 60 days of the date that the notice of amendment issent by the association, unless the declaration expressly provides otherwise.

B. Subsection A shall not apply to amendments which alter the priority of thelien of the mortgagee or which materially impair or affect a lot ascollateral or the right of the mortgagee to foreclose on a lot as collateral.

C. Where the declaration is silent on the need for mortgagee consent, nomortgagee consent shall be required if the amendment to the declaration doesnot specifically affect mortgagee rights.

D. A declaration may be amended by a two-thirds vote of the owners. Thissubsection may be applied to an association subject to a declaration recordedprior to July 1, 1999, if the declaration is silent on how it may be amendedor upon the amendment of that declaration in accordance with its requirements.

E. An action to challenge the validity of an amendment adopted by theassociation may not be brought more than one year after the amendment iseffective.

F. Agreement of the required majority of lot owners to any amendment of thedeclaration shall be evidenced by their execution of the amendment, orratifications thereof, and the same shall become effective when a copy of theamendment is recorded together with a certification, signed by the principalofficer of the association or by such other officer or officers as thedeclaration may specify, that the requisite majority of the lot owners signedthe amendment or ratifications thereof.

(1997, c. 887; 1998, c. 32; 1999, c. 805; 2003, cc. 59, 74.)