2006 Code of Virginia § 55-530 - Powers of the Board; community association liaison

55-530. Powers of the Board; community association liaison.

A. The Board shall administer the provisions of this chapter pursuant to thepowers conferred by 54.1-2105.1 and this chapter.

B. A community association liaison shall be appointed in accordance with 54.1-303 who shall administer the requirements of this chapter and serve asan information resource on issues relating to the governance, administrationand operation of common interest communities, including the laws andregulations relating thereto. Such information may include nonbindinginterpretations of laws or regulations governing common interest communitiesand referrals to public and private agencies offering alternative disputeresolution services, with a goal of reducing and resolving conflicts amongassociations and their members. The compensation for the communityassociation liaison designated pursuant to this chapter shall be paid fromthe Fund; provided that no more than sixty percent of the moneys collectedannually in the Fund shall be used for such purpose.

C. The Board shall use at least forty percent of the moneys collectedannually in the Fund created by this chapter for financing or promoting thefollowing:

1. Information and research in the field of common interest communitymanagement and operation;

2. Expeditious and inexpensive procedures for resolving common interestcommunity disputes;

3. Seminars and educational programs designed to address topics of concern tocommunity associations; and

4. Other programs deemed necessary and proper to accomplish the purpose ofthis chapter.

D. The Board shall establish accounting procedures whereby forty percent ofthe net revenues collected in any fiscal year shall be expended in accordancewith subsection C in the calendar year that begins during that fiscal year.

E. The Board shall issue a certificate of filing to each association whichhas properly filed in accordance with this title. The certificate shallinclude the date of registration and a unique registration number assigned bythe Board.

F. The Board may prescribe regulations which shall be adopted, amended orrepealed in accordance with the Administrative Process Act ( 2.2-4000 etseq.) to accomplish the purpose of this chapter.

(1993, c. 958; 1997, c. 222; 1998, c. 463; 2001, c. 816.)