Code of Virginia

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Code of Virginia
Title 55.1. Property and Conveyances [Effective October 1, 2019]
Chapter 20. Horizontal Property Act
10/16/2019

§ 55.1-2013. (Effective October 1, 2019) Books and records; inspection; audit.

The administrator, board of administration, or person appointed by the bylaws of the regime shall keep a book with a detailed account of the receipts and expenditures affecting the building and its administration and specifying the maintenance and repair expenses of the common elements and any other expenses incurred by or on behalf of the regime. Both the book and vouchers accrediting the entries made in the book shall be available for examination by all the co-owners during business hours that shall be set and announced for general knowledge. All books and records shall be kept in accordance with good accounting procedures and be audited at least once a year by an auditor outside of the organization.

1962, c. 627, § 12, § 55-79.12; 2019, c. 712.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.