Part II. General Application Requirements
18VAC48-45-50. Application procedures.
A developer seeking registration of a time-share program or an alternative purchase, an exchange company seeking registration of an exchange program, or a reseller seeking registration in order to offer or provide resale services, all in accordance with the Virginia Real Estate Time-Share Act, shall submit an application on the appropriate form provided by the board, along with the appropriate fee specified in 18VAC48-45-70.
By submitting the application to the board, the applicant certifies that the applicant has read and understands the applicable statutes and this chapter.
The receipt of an application and the deposit of fees by the board do not indicate approval or acceptance of the application by the board.
The board may make further inquiries and investigations to confirm or amplify information supplied. All applications shall be completed in accordance with the instructions contained in this chapter and on the application. Applications will not be considered complete until all required documents are received by the board.
Applications that are not complete within 12 months after receipt of the application in the board's office will be purged, and a new application and fee must be submitted in order to be reconsidered for registration.
Statutory Authority
§§ 54.1-2349 and 55.1-2247 of the Code of Virginia.
Historical Notes
Derived from Virginia Register Volume 32, Issue 10, eff. March 1, 2016; amended, Virginia Register Volume 37, Issue 3, eff. December 1, 2020.
18VAC48-45-60. Review of application for registration, generally.
A. Upon the review of the application for registration, if the requirements of this chapter have not been met, the board shall notify the applicant.
B. The board may refuse initial registration due to an applicant's failure to comply with entry requirements or for any of the reasons for which the board may discipline a regulant.
C. At such time as the board affirmatively determines that the requirements of this chapter have been met, the board shall issue the applicable registration.
D. Notwithstanding the provisions of 18VAC48-45-130 for a time-share program registration, applications that do not meet the requirements of this chapter may be accepted following consideration by the board in accordance with the Administrative Process Act (§ 2.2-4000 et seq. of the Code of Virginia).
Statutory Authority
§§ 54.1-2349 and 55.1-2247 of the Code of Virginia.
Historical Notes
Derived from Virginia Register Volume 32, Issue 10, eff. March 1, 2016; amended, Virginia Register Volume 37, Issue 3, eff. December 1, 2020.
18VAC48-45-70. Fees.
A. All fees are nonrefundable and shall not be prorated. The date on which the fee is received by the board or its agent will determine whether the fee is timely. Checks or money orders shall be made payable to the Treasurer of Virginia.
B. Fees are as follows:
| Time-share program registration application | $1,500 |
| Time-share program phase amendment filing | $250 |
| Time-share program registration annual report | $500 |
| Alternative purchase registration application | $100 |
| Alternative purchase registration annual report | $100 |
| Exchange program registration application | $1,000 |
| Exchange program registration annual report | $250 |
| Time-share reseller registration application | $250 |
| Time-share reseller registration renewal | $250 |
| Time-share reseller registration reinstatement (includes a $100 reinstatement fee in addition to the $250 renewal fee) | $350 |
Statutory Authority
§§ 54.1-2349 and 55.1-2247 of the Code of Virginia.
Historical Notes
Derived from Virginia Register Volume 32, Issue 10, eff. March 1, 2016; amended, Virginia Register Volume 37, Issue 3, eff. December 1, 2020.