Administrative Code

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Virginia Administrative Code
Title 18. Professional And Occupational Licensing
Agency 48. Common Interest Community Board
Chapter 30. Condominium Regulations

18VAC48-30-390. Board oversight of public offering statement.

The board at any time may require a declarant to alter or amend the public offering statement to assure full and fair disclosure to prospective purchasers and to ensure compliance with the Virginia Condominium Act and this chapter.

In accordance with subsection B of § 55.1-1976 of the Code of Virginia, the board does not approve or recommend the condominium or disposition thereof. The board's issuance of an effective date for a public offering statement shall not be construed to (i) constitute approval of the condominium, (ii) represent that the board asserts that either all facts or material changes or both concerning the condominium have been fully or adequately disclosed, or (iii) indicate that the board has made judgment on the value or merits of the condominium.

Statutory Authority

§ 54.1-2349 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 31, Issue 20, eff. August 1, 2015; amended, Virginia Register Volume 36, Issue 6, eff. December 31, 2019.

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