A. The Common Interest Community Board may adopt, amend, and repeal regulations and issue orders consistent with and in furtherance of the objectives of this chapter, but the Common Interest Community Board shall not intervene in the internal activities of an association except to the extent necessary to prevent or cure violations of this chapter. The Common Interest Community Board may prescribe forms and procedures for submitting information to the Common Interest Community Board.
B. If it appears that any person has engaged, is engaging, or is about to engage in any act or practice in violation of this chapter or any of the Common Interest Community Board's regulations or orders, the Common Interest Community Board without prior administrative proceedings may bring an action in the appropriate court to enjoin that act or practice or for other appropriate relief. The Common Interest Community Board is not required to post a bond or prove that no adequate remedy at law exists.
C. The Common Interest Community Board may intervene in any action involving the powers or responsibilities of a declarant in connection with any cooperative for which an application for registration is on file.
D. The Common Interest Community Board may accept grants-in-aid from any governmental source and may contract with agencies charged with similar functions in this or other jurisdictions in furtherance of the objectives of this chapter.
E. The Common Interest Community Board may cooperate with agencies performing similar functions in this and other jurisdictions to develop uniform filing procedures and forms, uniform disclosure standards, and uniform administrative practices and may develop information that may be useful in the discharge of the agency's duties.
F. In issuing any cease and desist order or order rejecting or revoking registration of a cooperative, the Common Interest Community Board shall state the basis for the adverse determination and the underlying facts.
G. The Common Interest Community Board, in its sound discretion, may require bonding, escrow of portions of sales proceeds, or other safeguards it may prescribe by its regulations to guarantee completion of all improvements labeled "MUST BE BUILT" pursuant to § 55.1-2171.
1982, c. 277, § 55-502; 2019, c. 712.
Structure Code of Virginia
Title 55.1 - Property and Conveyances
Chapter 21 - Virginia Real Estate Cooperative Act
§ 55.1-2102. Variation by agreement
§ 55.1-2103. Property classification of cooperative interests; taxation
§ 55.1-2104. Applicability of local ordinances, regulations, and building codes; local authority
§ 55.1-2106. General principles of law applicable
§ 55.1-2107. Construction against implicit repeal
§ 55.1-2108. Uniformity of application and construction
§ 55.1-2109. Unconscionable agreement or term of contract
§ 55.1-2110. Obligation of good faith
§ 55.1-2111. Remedies to be liberally administered
§ 55.1-2112. Creation of cooperative ownership
§ 55.1-2114. Construction and validity of declaration and bylaws
§ 55.1-2115. Description of units
§ 55.1-2116. Contents of declaration
§ 55.1-2117. Leasehold cooperatives
§ 55.1-2118. Allocation of ownership interests, votes, and common expense liabilities
§ 55.1-2119. Limited common elements
§ 55.1-2120. Exercise of development rights
§ 55.1-2121. Alterations of units
§ 55.1-2122. Relocation of boundaries between adjoining units
§ 55.1-2123. Subdivision of units
§ 55.1-2124. Easement for encroachments
§ 55.1-2125. Use for sales purposes
§ 55.1-2127. Amendment of declaration
§ 55.1-2128. Termination of cooperative ownership
§ 55.1-2129. Rights of secured lenders
§ 55.1-2130. Master associations
§ 55.1-2131. Merger or consolidation of cooperatives
§ 55.1-2132. Organization of the association
§ 55.1-2133. Powers of the association
§ 55.1-2133.1. Installation of solar energy collection devices
§ 55.1-2134. Executive board members and officers
§ 55.1-2135. Transfer of special declarant rights
§ 55.1-2136. Termination of contracts and leases of declarant
§ 55.1-2138. Upkeep of cooperative
§ 55.1-2139. Common elements; notice of pesticide application
§ 55.1-2139.1. Electric vehicle charging stations permitted
§ 55.1-2143. Tort and contract liability
§ 55.1-2144. Conveyance or encumbrance of the cooperative
§ 55.1-2146. Assessments for common expenses
§ 55.1-2147. Annual budget; reserves for capital components
§ 55.1-2148. Remedies for nonpayment of assessments
§ 55.1-2149. Other liens affecting the cooperative
§ 55.1-2150. Limitation of assumption of debt and encumbrances
§ 55.1-2151. Association records
§ 55.1-2152. Association as trustee
§ 55.1-2153. Applicability; waiver
§ 55.1-2154. Liability for public offering statement; requirements
§ 55.1-2155. Public offering statement; general provisions
§ 55.1-2156. Public offering statement; cooperatives subject to development rights
§ 55.1-2157. Public offering statement; time-shares
§ 55.1-2158. Public offering statement; cooperatives containing conversion building
§ 55.1-2159. Public offering statement; cooperative securities
§ 55.1-2160. Purchaser's right to cancel
§ 55.1-2161. Resales of cooperative interests
§ 55.1-2162. Escrow of deposits
§ 55.1-2164. Conversion buildings
§ 55.1-2165. Express warranties of quality
§ 55.1-2166. Implied warranties of quality
§ 55.1-2167. Exclusion or modification of implied warranties of quality
§ 55.1-2168. Statute of limitations for warranties
§ 55.1-2169. Effect of violation on rights of action; attorney fees; arbitration of disputes
§ 55.1-2170. Labeling of promotional material
§ 55.1-2171. Declarant's obligation to complete and restore
§ 55.1-2172. Substantial completion of units
§ 55.1-2173. Common Interest Community Board
§ 55.1-2174. General powers and duties of the Common Interest Community Board
§ 55.1-2175. Registration required
§ 55.1-2176. Application for registration; approval of uncompleted unit
§ 55.1-2177. Receipt of application; order or registration
§ 55.1-2178. Cease and desist order
§ 55.1-2179. Revocation of registration
§ 55.1-2180. Investigative powers of the Common Interest Community Board
§ 55.1-2181. Annual report and amendments
§ 55.1-2182. Annual report by associations
§ 55.1-2183. Common Interest Community Board regulation of public offering statement