{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-7501.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-7501.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-7501.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-7501.html"}],"law_id":55330,"edition_id":1,"section_id":55330,"structure_id":14164,"section_number":"15.2-7501","catch_line":"Creation of land bank entities by localities","history":"2016, cc. 159, 383.","full_text":"A\n\nSubject to a public hearing held pursuant to § 15.2-7502, a locality may by ordinance, or two or more localities may by concurrent ordinances, create a land bank entity as either an authority or a corporation, under an appropriate name and title, for the purpose of assisting the locality to address vacant, abandoned, and tax delinquent properties. Other localities may join the authority or corporation as provided in the ordinance.\n\t\t\tAn authority created pursuant to the Act shall be created as a public body corporate and as a political subdivision of the Commonwealth. A corporation created pursuant to the Act shall be a nonprofit, nonstock corporation created under Chapter 10 (§ 13.1-801 et seq.) of Title 13.1.B\n\nEach ordinance shall include the following:1\n\nThe name of the authority or corporation and the address of its principal office;2\n\nThe name of each locality creating the authority or corporation;3\n\nThe purpose for which the authority or corporation is created; and4\n\nThe names, addresses, and terms of office of the initial members of the board of directors of the authority or corporation.","order_by":null,"text":{"0":{"id":202898,"text":"Subject to a public hearing held pursuant to § 15.2-7502, a locality may by ordinance, or two or more localities may by concurrent ordinances, create a land bank entity as either an authority or a corporation, under an appropriate name and title, for the purpose of assisting the locality to address vacant, abandoned, and tax delinquent properties. Other localities may join the authority or corporation as provided in the ordinance.\n\t\t\tAn authority created pursuant to the Act shall be created as a public body corporate and as a political subdivision of the Commonwealth. A corporation created pursuant to the Act shall be a nonprofit, nonstock corporation created under Chapter 10 (§ 13.1-801 et seq.) of Title 13.1.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":202899,"text":"Each ordinance shall include the following:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":202900,"text":"The name of the authority or corporation and the address of its principal office;","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":202901,"text":"The name of each locality creating the authority or corporation;","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"4":{"id":202902,"text":"The purpose for which the authority or corporation is created; and","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2","next_prefix":"B4"},"5":{"id":202903,"text":"The names, addresses, and terms of office of the initial members of the board of directors of the authority or corporation.","type":"section","prefixes":["B","4"],"prefix":"4","entire_prefix":"B4","prefix_anchor":"B4","level":2,"prior_prefix":"B3"}},"ancestry":[{"id":14164,"edition_id":1,"name":"Land Bank Entities Act","identifier":"75","label":"chapter","depth":3,"order_by":1,"parent_id":12721,"metadata":{},"date_created":"2026-06-26 03:47:06","date_modified":"2026-06-26 03:47:06","permalink":{"id":160831,"object_type":"structure","relational_id":14164,"identifier":"75","token":"15.2\/IV\/75","url":"\/15.2\/IV\/75\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12721,"edition_id":1,"name":"Other Governmental Entities","identifier":"IV","label":"subtitle","depth":2,"order_by":1,"parent_id":12720,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":157897,"object_type":"structure","relational_id":12721,"identifier":"IV","token":"15.2\/IV","url":"\/15.2\/IV\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12720,"edition_id":1,"name":"Counties, Cities and Towns","identifier":"15.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":151279,"object_type":"structure","relational_id":12720,"identifier":"15.2","token":"15.2","url":"\/15.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":58584,"structure_id":14164,"section_number":"15.2-7500","catch_line":"Definitions","url":"\/15.2-7500\/","token":"15.2\/IV\/75\/15.2-7500","metadata":false},{"id":55330,"structure_id":14164,"section_number":"15.2-7501","catch_line":"Creation of land bank entities by localities","url":"\/15.2-7501\/","token":"15.2\/IV\/75\/15.2-7501","metadata":false},{"id":61880,"structure_id":14164,"section_number":"15.2-7502","catch_line":"Public hearing required prior to creation or designation of a land bank entity","url":"\/15.2-7502\/","token":"15.2\/IV\/75\/15.2-7502","metadata":false},{"id":68906,"structure_id":14164,"section_number":"15.2-7503","catch_line":"Board of directors; qualifications; terms; vacancies; compensation and expenses","url":"\/15.2-7503\/","token":"15.2\/IV\/75\/15.2-7503","metadata":false},{"id":67445,"structure_id":14164,"section_number":"15.2-7504","catch_line":"Executive director; staff","url":"\/15.2-7504\/","token":"15.2\/IV\/75\/15.2-7504","metadata":false},{"id":59914,"structure_id":14164,"section_number":"15.2-7505","catch_line":"Financial interests of board members and employees prohibited","url":"\/15.2-7505\/","token":"15.2\/IV\/75\/15.2-7505","metadata":false},{"id":83436,"structure_id":14164,"section_number":"15.2-7506","catch_line":"Powers of land bank entity","url":"\/15.2-7506\/","token":"15.2\/IV\/75\/15.2-7506","metadata":false},{"id":76485,"structure_id":14164,"section_number":"15.2-7507","catch_line":"Acquisition of property","url":"\/15.2-7507\/","token":"15.2\/IV\/75\/15.2-7507","metadata":false},{"id":74738,"structure_id":14164,"section_number":"15.2-7508","catch_line":"Disposition of property","url":"\/15.2-7508\/","token":"15.2\/IV\/75\/15.2-7508","metadata":false},{"id":79346,"structure_id":14164,"section_number":"15.2-7509","catch_line":"Financing of operations","url":"\/15.2-7509\/","token":"15.2\/IV\/75\/15.2-7509","metadata":false},{"id":73952,"structure_id":14164,"section_number":"15.2-7510","catch_line":"Exemption from taxes or assessments","url":"\/15.2-7510\/","token":"15.2\/IV\/75\/15.2-7510","metadata":false},{"id":62530,"structure_id":14164,"section_number":"15.2-7511","catch_line":"Dissolution of land bank entity","url":"\/15.2-7511\/","token":"15.2\/IV\/75\/15.2-7511","metadata":false},{"id":62244,"structure_id":14164,"section_number":"15.2-7512","catch_line":"Designation of planning district commission or existing nonprofit entities to carry out the functions of a land bank entity","url":"\/15.2-7512\/","token":"15.2\/IV\/75\/15.2-7512","metadata":false}],"previous_section":{"id":58584,"structure_id":14164,"section_number":"15.2-7500","catch_line":"Definitions","url":"\/15.2-7500\/","token":"15.2\/IV\/75\/15.2-7500","metadata":false},"next_section":{"id":61880,"structure_id":14164,"section_number":"15.2-7502","catch_line":"Public hearing required prior to creation or designation of a land bank entity","url":"\/15.2-7502\/","token":"15.2\/IV\/75\/15.2-7502","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-7501\/","history_text":"

This law was first created in 2016. The record of its establishment is cataloged in chapters 159<\/a> and 383<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":61880,"section_number":"15.2-7502","catch_line":"Public hearing required prior to creation or designation of a land bank entity","order_by":null,"url":"\/15.2-7502\/"}],"refers_to":[{"id":76305,"section_number":"13.1-801","catch_line":"Short title","order_by":null,"url":"\/13.1-801\/"},{"id":61880,"section_number":"15.2-7502","catch_line":"Public hearing required prior to creation or designation of a land bank entity","order_by":null,"url":"\/15.2-7502\/"}],"permalink":{"id":160837,"object_type":"law","relational_id":55330,"identifier":"15.2-7501","token":"15.2\/IV\/75\/15.2-7501","url":"\/15.2-7501\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/15.2-7501\/","token":"15.2\/IV\/75\/15.2-7501","dublin_core":{"Title":"Creation of land bank entities by localities","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-7501","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Subject to a public hearing<\/span> held pursuant to § 15.2-7502<\/a>, a locality<\/span> may by ordinance<\/span>, or two or more localities may by concurrent ordinances<\/span>, create a land bank entity<\/span> as either an authority<\/span> or a corporation<\/span>, under an appropriate name and title, for the purpose of assisting the locality<\/span> to address vacant, abandoned, and tax delinquent properties. Other localities may join the authority<\/span> or corporation<\/span> as provided in the ordinance<\/span>.\n\t\t\tAn authority<\/span> created pursuant to the Act<\/span> shall be created as a public body corporate and as a political subdivision of the Commonwealth. A corporation<\/span> created pursuant to the Act<\/span> shall be a nonprofit, nonstock corporation<\/span> created under Chapter 10 (§ 13.1-801<\/a> et seq.) of Title 13.1. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Each ordinance<\/span> shall include the following: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The name of the authority<\/span> or corporation<\/span> and the address of its principal office; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The name of each locality<\/span> creating the authority<\/span> or corporation<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> The purpose for which the authority<\/span> or corporation<\/span> is created; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> The names, addresses, and terms of office of the initial members of the board of directors<\/span> of the authority<\/span> or corporation<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCREATION OF LAND BANK ENTITIES BY LOCALITIES (\u00a7 15.2-7501)\n\nA. Subject to a public hearing held pursuant to § 15.2-7502, a locality may\nby ordinance, or two or more localities may by concurrent ordinances, create a\nland bank entity as either an authority or a corporation, under an appropriate\nname and title, for the purpose of assisting the locality to address vacant,\nabandoned, and tax delinquent properties. Other localities may join the\nauthority or corporation as provided in the ordinance.\n\t\t\tAn authority created pursuant to the Act shall be created as a public body\ncorporate and as a political subdivision of the Commonwealth. A corporation\ncreated pursuant to the Act shall be a nonprofit, nonstock corporation created\nunder Chapter 10 (§ 13.1-801 et seq.) of Title 13.1.\n\nB. Each ordinance shall include the following:\n\n 1. The name of the authority or corporation and the address of its principal\n office;\n\n 2. The name of each locality creating the authority or corporation;\n\n 3. The purpose for which the authority or corporation is created; and\n\n 4. The names, addresses, and terms of office of the initial members of the\n board of directors of the authority or corporation.\n\nHISTORY: 2016, cc. 159, 383.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}