2006 Code of Virginia § 55-79.92 - Notice of filing and registration

55-79.92. Notice of filing and registration.

A. Upon receipt of the application for registration, the agency shall, withinfive business days, issue a notice of filing to the applicant. In the case ofreceipt of an application for a condominium that is a conversion condominium,the agency shall, within five business days, also issue a notice of filing tothe chief administrative officer of the county or city in which the proposedcondominium is located, which notice shall include the name and address ofthe applicant and the name and address or location of the proposedcondominium. Within sixty days from the date of the notice of filing, theagency shall enter an order registering the condominium or rejecting theregistration. If no order of rejection is entered within sixty days from thedate of notice of filing, the condominium shall be deemed registered unlessthe applicant has consented in writing to a delay.

B. If the agency affirmatively determines, upon inquiry and examination, thatthe requirements of 55-79.89 and 55-79.91 have been met, it shall enter anorder registering the condominium and shall designate the form of the publicoffering statement.

C. If the agency determines upon inquiry and examination that any of therequirements of 55-79.89 and 55-79.91 have not been met, the agency shallnotify the applicant that the application for registration must be correctedin the particulars specified within twenty days. If the requirements are notmet within the time allowed the agency shall enter an order rejecting theregistration which shall include the findings of fact upon which the order isbased. The order rejecting the registration shall not become effective fortwenty days after issuance of the order. During this twenty-day period theapplicant may petition for reconsideration and shall be entitled to a hearingor correct the particulars specified in the agency's notice. Such order ofrejection shall not take effect, in any event, until such time as thehearing, once requested, is given to the applicant.

(1974, c. 416; 1985, c. 107; 1988, c. 15; 2006, c. 726.)