{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-1963.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-1963.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-1963.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-1963.html"}],"law_id":71936,"edition_id":1,"section_id":71936,"structure_id":13236,"section_number":"55.1-1963","catch_line":"Insurance","history":"1974, c. 416, \u00a7 55-79.81; 2000, c. 906; 2003, c. 360; 2004, c. 281; 2007, cc. 696, 712; 2008, cc. 851, 871; 2019, c. 712.","full_text":"A\n\nThe condominium instruments may require the unit owners’ association, or the executive board or managing agent on behalf of such association, to obtain:1\n\nA master casualty policy affording fire and extended coverage in an amount consonant with the full replacement value of the structures within the condominium, or of such structures that in whole or in part comprise portions of the common elements;2\n\nA master liability policy, in an amount specified by the condominium instruments, covering the unit owners’ association, the executive board, if any, the managing agent, if any, all persons acting or who may come to act as agents or employees of any of the foregoing with respect to the condominium, and all unit owners and other persons entitled to occupy any unit or other portion of the condominium; and3\n\nSuch other policies as may be required by the condominium instruments, including workers’ compensation insurance, liability insurance on motor vehicles owned by the unit owners’ association, and specialized policies covering lands or improvements in which the unit owners’ association has or shares ownership or other rights.B\n\nAny unit owners’ association collecting assessments for common expenses shall obtain and maintain a blanket fidelity bond or employee dishonesty insurance policy insuring the unit owners’ association against losses resulting from theft or dishonesty committed by the officers, directors, or persons employed by the unit owners’ association, or committed by any common interest community manager or employees of the common interest community manager. Such bond or insurance policy shall provide coverage in an amount equal to the lesser of $1 million or the amount of reserve balances of the unit owners’ association plus one-fourth of the aggregate annual assessment of such unit owners’ association. The minimum coverage amount shall be $10,000. The executive board or common interest community manager may obtain such bond or insurance on behalf of the unit owners’ association.C\n\nWhen any policy of insurance has been obtained by or on behalf of the unit owners’ association, written notice of such obtainment and of any subsequent changes in or termination of the policy shall be promptly furnished to each unit owner by the officer required to send notices of meetings of the unit owners’ association. Such notices shall be sent in accordance with the provisions of subsection A of § 55.1-1949.","order_by":null,"text":{"0":{"id":259213,"text":"The condominium instruments may require the unit owners’ association, or the executive board or managing agent on behalf of such association, to obtain:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":259214,"text":"A master casualty policy affording fire and extended coverage in an amount consonant with the full replacement value of the structures within the condominium, or of such structures that in whole or in part comprise portions of the common elements;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":259215,"text":"A master liability policy, in an amount specified by the condominium instruments, covering the unit owners’ association, the executive board, if any, the managing agent, if any, all persons acting or who may come to act as agents or employees of any of the foregoing with respect to the condominium, and all unit owners and other persons entitled to occupy any unit or other portion of the condominium; and","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":259216,"text":"Such other policies as may be required by the condominium instruments, including workers’ compensation insurance, liability insurance on motor vehicles owned by the unit owners’ association, and specialized policies covering lands or improvements in which the unit owners’ association has or shares ownership or other rights.","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"B"},"4":{"id":259217,"text":"Any unit owners’ association collecting assessments for common expenses shall obtain and maintain a blanket fidelity bond or employee dishonesty insurance policy insuring the unit owners’ association against losses resulting from theft or dishonesty committed by the officers, directors, or persons employed by the unit owners’ association, or committed by any common interest community manager or employees of the common interest community manager. Such bond or insurance policy shall provide coverage in an amount equal to the lesser of $1 million or the amount of reserve balances of the unit owners’ association plus one-fourth of the aggregate annual assessment of such unit owners’ association. The minimum coverage amount shall be $10,000. The executive board or common interest community manager may obtain such bond or insurance on behalf of the unit owners’ association.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A3","next_prefix":"C"},"5":{"id":259218,"text":"When any policy of insurance has been obtained by or on behalf of the unit owners’ association, written notice of such obtainment and of any subsequent changes in or termination of the policy shall be promptly furnished to each unit owner by the officer required to send notices of meetings of the unit owners’ association. Such notices shall be sent in accordance with the provisions of subsection A of § 55.1-1949.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":13236,"edition_id":1,"name":"Management of Condominium","identifier":"3","label":"article","depth":4,"order_by":1,"parent_id":13018,"metadata":{},"date_created":"2026-06-26 03:44:30","date_modified":"2026-06-26 03:44:30","permalink":{"id":246789,"object_type":"structure","relational_id":13236,"identifier":"3","token":"55.1\/IV\/19\/3","url":"\/55.1\/IV\/19\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13018,"edition_id":1,"name":"Virginia Condominium Act","identifier":"19","label":"chapter","depth":3,"order_by":1,"parent_id":12914,"metadata":{},"date_created":"2026-06-26 03:44:09","date_modified":"2026-06-26 03:44:09","permalink":{"id":246623,"object_type":"structure","relational_id":13018,"identifier":"19","token":"55.1\/IV\/19","url":"\/55.1\/IV\/19\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12914,"edition_id":1,"name":"Common Interest Communities","identifier":"IV","label":"subtitle","depth":2,"order_by":1,"parent_id":12707,"metadata":{},"date_created":"2026-06-26 03:44:01","date_modified":"2026-06-26 03:44:01","permalink":{"id":246473,"object_type":"structure","relational_id":12914,"identifier":"IV","token":"55.1\/IV","url":"\/55.1\/IV\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12707,"edition_id":1,"name":"Property and Conveyances","identifier":"55.1","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":244769,"object_type":"structure","relational_id":12707,"identifier":"55.1","token":"55.1","url":"\/55.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":75299,"structure_id":13236,"section_number":"55.1-1940","catch_line":"Bylaws to be recorded with declaration; contents; unit owners' association; executive board; amendment of bylaws","url":"\/55.1-1940\/","token":"55.1\/IV\/19\/3\/55.1-1940","metadata":false},{"id":56162,"structure_id":13236,"section_number":"55.1-1940.1","catch_line":"Termination and duration of certain management contracts","url":"\/55.1-1940.1\/","token":"55.1\/IV\/19\/3\/55.1-1940.1","metadata":false},{"id":86301,"structure_id":13236,"section_number":"55.1-1941","catch_line":"Amendment to condominium instruments; consent of mortgagee","url":"\/55.1-1941\/","token":"55.1\/IV\/19\/3\/55.1-1941","metadata":false},{"id":77055,"structure_id":13236,"section_number":"55.1-1942","catch_line":"Reformation of declaration; judicial procedure","url":"\/55.1-1942\/","token":"55.1\/IV\/19\/3\/55.1-1942","metadata":false},{"id":84290,"structure_id":13236,"section_number":"55.1-1943","catch_line":"Control of condominium by declarant","url":"\/55.1-1943\/","token":"55.1\/IV\/19\/3\/55.1-1943","metadata":false},{"id":68952,"structure_id":13236,"section_number":"55.1-1944","catch_line":"Deposit of funds","url":"\/55.1-1944\/","token":"55.1\/IV\/19\/3\/55.1-1944","metadata":false},{"id":86875,"structure_id":13236,"section_number":"55.1-1945","catch_line":"Books, minutes, and records; inspection","url":"\/55.1-1945\/","token":"55.1\/IV\/19\/3\/55.1-1945","metadata":false},{"id":86155,"structure_id":13236,"section_number":"55.1-1946","catch_line":"Management office","url":"\/55.1-1946\/","token":"55.1\/IV\/19\/3\/55.1-1946","metadata":false},{"id":64177,"structure_id":13236,"section_number":"55.1-1947","catch_line":"Transfer of special declarant rights","url":"\/55.1-1947\/","token":"55.1\/IV\/19\/3\/55.1-1947","metadata":false},{"id":54240,"structure_id":13236,"section_number":"55.1-1948","catch_line":"Declarants not succeeding to special declarant rights","url":"\/55.1-1948\/","token":"55.1\/IV\/19\/3\/55.1-1948","metadata":false},{"id":76863,"structure_id":13236,"section_number":"55.1-1949","catch_line":"Meetings of unit owners' association and executive board","url":"\/55.1-1949\/","token":"55.1\/IV\/19\/3\/55.1-1949","metadata":false},{"id":64649,"structure_id":13236,"section_number":"55.1-1950","catch_line":"Distribution of information by members","url":"\/55.1-1950\/","token":"55.1\/IV\/19\/3\/55.1-1950","metadata":false},{"id":63730,"structure_id":13236,"section_number":"55.1-1951","catch_line":"Display of the flag of the United States; necessary supporting structures; affirmative defense","url":"\/55.1-1951\/","token":"55.1\/IV\/19\/3\/55.1-1951","metadata":false},{"id":80764,"structure_id":13236,"section_number":"55.1-1951.1","catch_line":"Installation of solar energy collection devices","url":"\/55.1-1951.1\/","token":"55.1\/IV\/19\/3\/55.1-1951.1","metadata":false},{"id":70408,"structure_id":13236,"section_number":"55.1-1952","catch_line":"Meetings of unit owners' association and executive board; quorums","url":"\/55.1-1952\/","token":"55.1\/IV\/19\/3\/55.1-1952","metadata":false},{"id":64764,"structure_id":13236,"section_number":"55.1-1953","catch_line":"Meetings of unit owners' association and executive board; voting by unit owners; proxies","url":"\/55.1-1953\/","token":"55.1\/IV\/19\/3\/55.1-1953","metadata":false},{"id":69473,"structure_id":13236,"section_number":"55.1-1954","catch_line":"Officers","url":"\/55.1-1954\/","token":"55.1\/IV\/19\/3\/55.1-1954","metadata":false},{"id":85997,"structure_id":13236,"section_number":"55.1-1955","catch_line":"Upkeep of condominiums; warranty against structural defects; statute of limitations for warranty; warranty review committee","url":"\/55.1-1955\/","token":"55.1\/IV\/19\/3\/55.1-1955","metadata":false},{"id":76691,"structure_id":13236,"section_number":"55.1-1956","catch_line":"Control of common elements","url":"\/55.1-1956\/","token":"55.1\/IV\/19\/3\/55.1-1956","metadata":false},{"id":86702,"structure_id":13236,"section_number":"55.1-1957","catch_line":"Common elements; notice of pesticide application","url":"\/55.1-1957\/","token":"55.1\/IV\/19\/3\/55.1-1957","metadata":false},{"id":66934,"structure_id":13236,"section_number":"55.1-1958","catch_line":"Tort and contract liability; judgment lien","url":"\/55.1-1958\/","token":"55.1\/IV\/19\/3\/55.1-1958","metadata":false},{"id":65547,"structure_id":13236,"section_number":"55.1-1959","catch_line":"Suspension of services for failure to pay assessments; corrective action; assessment of charges for violations; notice; hearing; adoption and enforcement of rules and regulations","url":"\/55.1-1959\/","token":"55.1\/IV\/19\/3\/55.1-1959","metadata":false},{"id":78546,"structure_id":13236,"section_number":"55.1-1960","catch_line":"Limitation of occupancy of a unit","url":"\/55.1-1960\/","token":"55.1\/IV\/19\/3\/55.1-1960","metadata":false},{"id":64065,"structure_id":13236,"section_number":"55.1-1960.1","catch_line":"Limitation of smoking in condominium","url":"\/55.1-1960.1\/","token":"55.1\/IV\/19\/3\/55.1-1960.1","metadata":false},{"id":62313,"structure_id":13236,"section_number":"55.1-1961","catch_line":"Use of for sale sign in connection with resale","url":"\/55.1-1961\/","token":"55.1\/IV\/19\/3\/55.1-1961","metadata":false},{"id":78887,"structure_id":13236,"section_number":"55.1-1962","catch_line":"Designation of authorized representative","url":"\/55.1-1962\/","token":"55.1\/IV\/19\/3\/55.1-1962","metadata":false},{"id":76748,"structure_id":13236,"section_number":"55.1-1962.1","catch_line":"Electric vehicle charging stations permitted","url":"\/55.1-1962.1\/","token":"55.1\/IV\/19\/3\/55.1-1962.1","metadata":false},{"id":71936,"structure_id":13236,"section_number":"55.1-1963","catch_line":"Insurance","url":"\/55.1-1963\/","token":"55.1\/IV\/19\/3\/55.1-1963","metadata":false},{"id":86524,"structure_id":13236,"section_number":"55.1-1964","catch_line":"Liability for common expenses; late fees; additional assessment; authority to borrow","url":"\/55.1-1964\/","token":"55.1\/IV\/19\/3\/55.1-1964","metadata":false},{"id":55038,"structure_id":13236,"section_number":"55.1-1965","catch_line":"Annual budget; reserve study; reserves for capital components","url":"\/55.1-1965\/","token":"55.1\/IV\/19\/3\/55.1-1965","metadata":false},{"id":86561,"structure_id":13236,"section_number":"55.1-1966","catch_line":"Lien for assessments; foreclosure","url":"\/55.1-1966\/","token":"55.1\/IV\/19\/3\/55.1-1966","metadata":false},{"id":82616,"structure_id":13236,"section_number":"55.1-1967","catch_line":"Notice of sale under deed of trust","url":"\/55.1-1967\/","token":"55.1\/IV\/19\/3\/55.1-1967","metadata":false},{"id":56723,"structure_id":13236,"section_number":"55.1-1968","catch_line":"Bond to be posted by declarant","url":"\/55.1-1968\/","token":"55.1\/IV\/19\/3\/55.1-1968","metadata":false},{"id":60552,"structure_id":13236,"section_number":"55.1-1969","catch_line":"Restraints on alienation","url":"\/55.1-1969\/","token":"55.1\/IV\/19\/3\/55.1-1969","metadata":false}],"previous_section":{"id":76748,"structure_id":13236,"section_number":"55.1-1962.1","catch_line":"Electric vehicle charging stations permitted","url":"\/55.1-1962.1\/","token":"55.1\/IV\/19\/3\/55.1-1962.1","metadata":false},"next_section":{"id":86524,"structure_id":13236,"section_number":"55.1-1964","catch_line":"Liability for common expenses; late fees; additional assessment; authority to borrow","url":"\/55.1-1964\/","token":"55.1\/IV\/19\/3\/55.1-1964","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-1963\/","history_text":"

This law was first created in 1974. The record of its establishment is cataloged in chapter 416 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. Unfortunately, the 1974 \u201cActs\u201d aren\u2019t available online. It has been modified 6 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 2000, chapter 906<\/a>; in 2003, chapter 360<\/a>; in 2004, chapter 281<\/a>; in 2007, chapters 696<\/a> and 712<\/a>; in 2008, chapters 851<\/a> and 871<\/a>; in 2019, chapter 712<\/a>.<\/p>","references":false,"refers_to":[{"id":76863,"section_number":"55.1-1949","catch_line":"Meetings of unit owners' association and executive board","order_by":null,"url":"\/55.1-1949\/"}],"permalink":{"id":246899,"object_type":"law","relational_id":71936,"identifier":"55.1-1963","token":"55.1\/IV\/19\/3\/55.1-1963","url":"\/55.1-1963\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-1963\/","token":"55.1\/IV\/19\/3\/55.1-1963","dublin_core":{"Title":"Insurance","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-1963","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The condominium<\/span> instruments may require the unit owners<\/span>’ association, or the executive board<\/span> or managing agent on behalf of such association, to obtain: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> A master casualty policy affording fire and extended coverage in an amount consonant with the full replacement value of the structures within the condominium<\/span>, or of such structures that in whole or in part comprise portions of the common elements<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> A master liability policy, in an amount specified by the condominium<\/span> instruments, covering the unit owners<\/span>’ association, the executive board<\/span>, if any, the managing agent, if any, all persons<\/span> acting or who may come to act as agents or employees of any of the foregoing with respect to the condominium<\/span>, and all unit owners<\/span> and other persons<\/span> entitled to occupy any unit or other portion of the condominium<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Such other policies as may be required by the condominium<\/span> instruments, including workers’ compensation insurance, liability insurance on motor vehicles owned by the unit owners<\/span>’ association, and specialized policies covering lands<\/span> or improvements in which the unit owners<\/span>’ association has or shares ownership or other rights. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Any unit owners<\/span>’ association collecting assessments for common expenses<\/span> shall obtain and maintain a blanket fidelity bond<\/span> or employee dishonesty insurance policy insuring the unit owners<\/span>’ association against losses resulting from theft or dishonesty committed by the officers<\/span>, directors, or persons<\/span> employed by the unit owners<\/span>’ association, or committed by any common interest community manager<\/span> or employees of the common interest community manager<\/span>. Such bond<\/span> or insurance policy shall provide coverage in an amount equal to the lesser of $1 million or the amount of reserve balances of the unit owners<\/span>’ association plus one-fourth of the aggregate annual assessment of such unit owners<\/span>’ association. The minimum coverage amount shall be $10,000. The executive board<\/span> or common interest community manager<\/span> may obtain such bond<\/span> or insurance on behalf of the unit owners<\/span>’ association. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> When any policy of insurance has been obtained by or on behalf of the unit owners<\/span>’ association, written notice of such obtainment and of any subsequent changes in or termination of the policy shall be promptly furnished to each unit owner<\/span> by the officer<\/span> required to send notices of meetings of the unit owners<\/span>’ association. Such notices shall be sent in accordance with the provisions of subsection A of § 55.1-1949<\/a>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nINSURANCE (\u00a7 55.1-1963)\n\nA. The condominium instruments may require the unit owners’ association,\nor the executive board or managing agent on behalf of such association, to\nobtain:\n\n 1. A master casualty policy affording fire and extended coverage in an amount\n consonant with the full replacement value of the structures within the\n condominium, or of such structures that in whole or in part comprise portions\n of the common elements;\n\n 2. A master liability policy, in an amount specified by the condominium\n instruments, covering the unit owners’ association, the executive board,\n if any, the managing agent, if any, all persons acting or who may come to act\n as agents or employees of any of the foregoing with respect to the\n condominium, and all unit owners and other persons entitled to occupy any unit\n or other portion of the condominium; and\n\n 3. Such other policies as may be required by the condominium instruments,\n including workers’ compensation insurance, liability insurance on motor\n vehicles owned by the unit owners’ association, and specialized policies\n covering lands or improvements in which the unit owners’ association has\n or shares ownership or other rights.\n\nB. Any unit owners’ association collecting assessments for common expenses\nshall obtain and maintain a blanket fidelity bond or employee dishonesty\ninsurance policy insuring the unit owners’ association against losses\nresulting from theft or dishonesty committed by the officers, directors, or\npersons employed by the unit owners’ association, or committed by any\ncommon interest community manager or employees of the common interest community\nmanager. Such bond or insurance policy shall provide coverage in an amount equal\nto the lesser of $1 million or the amount of reserve balances of the unit\nowners’ association plus one-fourth of the aggregate annual assessment of\nsuch unit owners’ association. The minimum coverage amount shall be\n$10,000. The executive board or common interest community manager may obtain\nsuch bond or insurance on behalf of the unit owners’ association.\n\nC. When any policy of insurance has been obtained by or on behalf of the unit\nowners’ association, written notice of such obtainment and of any\nsubsequent changes in or termination of the policy shall be promptly furnished\nto each unit owner by the officer required to send notices of meetings of the\nunit owners’ association. Such notices shall be sent in accordance with\nthe provisions of subsection A of § 55.1-1949.\n\nHISTORY: 1974, c. 416, \u00a7 55-79.81; 2000, c. 906; 2003, c. 360; 2004, c. 281;\n2007, cc. 696, 712; 2008, cc. 851, 871; 2019, c. 712.","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}}