A. The Board shall stipulate to the developer or reseller the reason for any cease and desist order, or revocation of registration as outlined in § 55.1-2247, by no later than the time such order or revocation is to become effective.
B. Should the developer or reseller satisfy the Board that it has corrected the reasons for the cease and desist order or revocation of registration, then the Board shall promptly cancel such order or reinstate the registration, and thereafter the developer or reseller may continue its offering or disposition of time-shares.
1981, c. 462, § 55-397; 2012, c. 751; 2019, c. 712.
Structure Code of Virginia
Title 55.1 - Property and Conveyances
Chapter 22 - Virginia Real Estate Time-Share Act
§ 55.1-2202. Administrative agency
§ 55.1-2203. Status of time-share estates with respect to real property interests
§ 55.1-2204. Applicability of local ordinances, regulations, and building codes
§ 55.1-2206. Severability of provisions of time-share instruments
§ 55.1-2207. Time-sharing permitted
§ 55.1-2209. Time-share instrument for time-share estate project
§ 55.1-2210. Developer control in time-share estate program
§ 55.1-2211. Time-share estate owners' association control liens
§ 55.1-2212. Time-share owners' association books and records; meetings; use of email
§ 55.1-2213. Time-share estate owners' association annual report
§ 55.1-2214. Time-share instrument for project
§ 55.1-2216. Termination of certain time-shares
§ 55.1-2217. Public offering statement
§ 55.1-2218. Certain advertising practices regulated
§ 55.1-2219. Exchange programs
§ 55.1-2220. Escrow of deposits; use of corporate surety bond or irrevocable letter of credit
§ 55.1-2221. Purchaser's rights of cancellation
§ 55.1-2222. Possibility of reverter
§ 55.1-2223. Recording and delivery of deed
§ 55.1-2224. Liability limited; liability actions prohibited
§ 55.1-2226. Buyer's Acknowledgment
§ 55.1-2227. Resale of time-shares
§ 55.1-2228. Required resale disclosures
§ 55.1-2231. Statute of limitations; actions; limitation on rescission rights
§ 55.1-2233. Financial records
§ 55.1-2234. Developer's obligation to complete
§ 55.1-2235. Financing of time-share programs
§ 55.1-2236. Purchaser's rights under developer's foreclosure
§ 55.1-2237. Protection of lien holder
§ 55.1-2238. Registration of time-share program required
§ 55.1-2239. Application for registration
§ 55.1-2241. Receipt of application; effectiveness of registration
§ 55.1-2242. Annual report; amendments
§ 55.1-2243. Termination of registration
§ 55.1-2244. Registration required for time-share resellers; exemptions; prohibited practices
§ 55.1-2245. Recordkeeping by resellers
§ 55.1-2246. Alternative purchase; registration
§ 55.1-2247. General powers and duties of Board
§ 55.1-2248. Cancellation of cease and desist order; reinstatement of registration of developer
§ 55.1-2249. Board regulation of public offering statement