2006 Code of Virginia § 55-79.78 - Officers

55-79.78. Officers.

A. If the condominium instruments provide that any officer or officers mustbe unit owners, then any such officer who disposes of all of his units in feeshall be deemed to have disqualified himself from continuing in office unlessthe condominium instruments otherwise provide, or unless he acquires orcontracts to acquire another unit in the condominium under terms giving him aright of occupancy thereto effective on or before the termination of hisright of occupancy under such disposition or dispositions.

B. If the condominium instruments provide that any officer or officers mustbe unit owners, then notwithstanding the provisions of subsection (a) of 55-79.50, the term "unit owner" in such context shall, unless thecondominium instruments otherwise provide, be deemed to include, withoutlimitation, any director, officer, partner in, or trustee of any person whichis, either alone or in conjunction with another person or persons, a unitowner. Any officer who would not be eligible to serve as such were he not adirector, officer, partner in, or trustee of such a person, shall be deemedto have disqualified himself from continuing in office if he ceases to haveany such affiliation with that person, or if that person would itself havebeen deemed to have disqualified itself from continuing in such office undersubsection A were it a natural person holding such office.

(1974, c. 416; 1991, c. 497; 2002, c. 520.)