2006 Code of Virginia § 55-79.89 - Application for registration; fee

55-79.89. Application for registration; fee.

A. The application for registration of the condominium shall be filed asprescribed by the agency's regulations and shall contain the followingdocuments and information:

1. An irrevocable appointment of the agency to receive service of any lawfulprocess in any noncriminal proceeding arising under this chapter against theapplicant or his personal representative;

2. The states or jurisdictions in which an application for registration orsimilar document has been filed, and any adverse order, judgment, or decreeentered in connection with the condominium by the regulatory authorities ineach jurisdiction or by any court;

3. The applicant's name, address, and the form, date, and jurisdiction ororganization; and the address of each of its offices in this Commonwealth;

4. The name, address, and principal occupation for the past five years ofevery officer of the applicant or person occupying a similar status orperforming similar functions; the extent and nature of his interest in theapplicant or the condominium as of a specified date within thirty days of thefiling of the application;

5. A statement, in a form acceptable to the agency, of the condition of thetitle to the condominium project including encumbrances as of a specifieddate within thirty days of the date of application by a title opinion of alicensed attorney, not a salaried employee, officer or director of theapplicant or owner, or by other evidence of title acceptable to the agency;

6. Copies of the instruments which will be delivered to a purchaser toevidence his interest in the unit and of the contracts and other agreementswhich a purchaser will be required to agree to or sign;

7. Copies of any management agreements, employment contracts or othercontracts or agreements affecting the use, maintenance or access of all or apart of the condominium;

8. A statement of the zoning and other governmental regulations affecting theuse of the condominium, including the site plans and building permits andtheir status, and also of any existing tax and existing or proposed specialtaxes or assessments which affect the condominium;

9. A narrative description of the promotional plan for the disposition of theunits in the condominium;

10. Plats and plans of the condominium that comply with the provisions of 55-79.58 other than the certification requirements thereof, and which showall units and buildings containing units to be built anywhere within thesubmitted land other than within the boundaries of any convertible lands,except that the agency may establish by regulation or order requirements inlieu of the provisions of 55-79.58 for plats and plans of a condominiumlocated outside this Commonwealth;

11. The proposed public offering statement;

12. Any bonds required to be posted pursuant to the provisions of thischapter; and

13. Any other information, including any current financial statement, whichthe agency by its regulations requires for the protection of purchasers.

B. If the declarant registers additional units to be offered for dispositionin the same condominium he may consolidate the subsequent registration withany earlier registration offering units in the condominium for dispositionunder the same promotional plan.

C. The declarant shall immediately report any material changes in theinformation contained in an application for registration.

D. Each application shall be accompanied by a fee in an amount established bythe agency pursuant to 54.1-113. All fees shall be remitted by the agencyto the State Treasurer, and shall be placed to the credit of the special fundof the Real Estate Board, which fund is hereby established, and shall beexpended solely for compliance with the provisions of this chapter.

(1974, c. 416; 1975, c. 415; 1977, c. 428; 1988, c. 16.)