{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-2101.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-2101.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-2101.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-2101.html"}],"law_id":80253,"edition_id":1,"section_id":80253,"structure_id":14850,"section_number":"55.1-2101","catch_line":"Applicability","history":"1982, c. 277, \u00a7 55-425; 1983, c. 312; 1986, cc. 368, 557; 2019, c. 712; 2023, cc. 387, 388.","full_text":"A\n\nThis chapter applies to all cooperatives created within the Commonwealth after July 1, 1982. Unless the declaration provides that the entire chapter is applicable, such a cooperative is subject only to &#xA7;&#xA7; 55.1-2104 and 55.1-2105 if the cooperative contains only units restricted to nonresidential use or contains no more than three units and is not subject to any development rights.B\n\nExcept as provided in subsection C, &#xA7;&#xA7; 55.1-2100, 55.1-2104, 55.1-2105, 55.1-2109, 55.1-2114, and 55.1-2131, subdivisions A 1 through 6 and 11 through 17 of &#xA7; 55.1-2133, and &#xA7;&#xA7; 55.1-2143, 55.1-2148, 55.1-2151, 55.1-2169, 55.1-2170, and 55.1-2309 apply to all cooperatives created in the Commonwealth before July 1, 1982. Those sections apply only with respect to events and circumstances occurring after July 1, 1982, and do not invalidate existing provisions of the cooperative documents of those cooperatives. With regard to any cooperative created before July 1, 1982, &#xA7; 55.1-2104 applies only to real estate acquired by that cooperative&#8217;s association on or after that date. For the purposes of this section, a cooperative was created before July 1, 1982, if the cooperative was conveyed to the association before that date.C\n\nIf a cooperative created within the Commonwealth before July 1, 1982, contains no more than three units and is not subject to any development rights, it is subject only to &#xA7;&#xA7; 55.1-2104 and 55.1-2105, unless the declaration is amended to make any or all of the sections enumerated in subsection B apply to that cooperative.D\n\nThis chapter does not apply to cooperatives or cooperative interests located outside the Commonwealth, but the public offering statement provisions as given in &#xA7;&#xA7; 55.1-2153 through 55.1-2160 apply to all contracts for the disposition of cooperative interests signed in the Commonwealth by any party, unless exempt under subsection B of &#xA7; 55.1-2153. The Common Interest Community Board regulations provisions under Article 5 (&#xA7; 55.1-2173 et seq.) apply to any such offering in the Commonwealth.E\n\nThis chapter does not apply to any cooperatives that receive federal funding pursuant to the public housing or &#xA7; 8 program under the United States Housing Act of 1937, as amended.F\n\nThis chapter does not apply to any cooperative that, when acquired by an association, is subject to a mortgage or deed of trust securing an indebtedness owed to any government or governmental authority to which the association has contractual obligations in addition to those set forth in such mortgage or deed of trust.","order_by":null,"text":{"0":{"id":287297,"text":"This chapter applies to all cooperatives created within the Commonwealth after July 1, 1982. Unless the declaration provides that the entire chapter is applicable, such a cooperative is subject only to &#xA7;&#xA7; 55.1-2104 and 55.1-2105 if the cooperative contains only units restricted to nonresidential use or contains no more than three units and is not subject to any development rights.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":287298,"text":"Except as provided in subsection C, &#xA7;&#xA7; 55.1-2100, 55.1-2104, 55.1-2105, 55.1-2109, 55.1-2114, and 55.1-2131, subdivisions A 1 through 6 and 11 through 17 of &#xA7; 55.1-2133, and &#xA7;&#xA7; 55.1-2143, 55.1-2148, 55.1-2151, 55.1-2169, 55.1-2170, and 55.1-2309 apply to all cooperatives created in the Commonwealth before July 1, 1982. Those sections apply only with respect to events and circumstances occurring after July 1, 1982, and do not invalidate existing provisions of the cooperative documents of those cooperatives. With regard to any cooperative created before July 1, 1982, &#xA7; 55.1-2104 applies only to real estate acquired by that cooperative&#8217;s association on or after that date. For the purposes of this section, a cooperative was created before July 1, 1982, if the cooperative was conveyed to the association before that date.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":287299,"text":"If a cooperative created within the Commonwealth before July 1, 1982, contains no more than three units and is not subject to any development rights, it is subject only to &#xA7;&#xA7; 55.1-2104 and 55.1-2105, unless the declaration is amended to make any or all of the sections enumerated in subsection B apply to that cooperative.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":287300,"text":"This chapter does not apply to cooperatives or cooperative interests located outside the Commonwealth, but the public offering statement provisions as given in &#xA7;&#xA7; 55.1-2153 through 55.1-2160 apply to all contracts for the disposition of cooperative interests signed in the Commonwealth by any party, unless exempt under subsection B of &#xA7; 55.1-2153. The Common Interest Community Board regulations provisions under Article 5 (&#xA7; 55.1-2173 et seq.) apply to any such offering in the Commonwealth.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":287301,"text":"This chapter does not apply to any cooperatives that receive federal funding pursuant to the public housing or &#xA7; 8 program under the United States Housing Act of 1937, as amended.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"5":{"id":287302,"text":"This chapter does not apply to any cooperative that, when acquired by an association, is subject to a mortgage or deed of trust securing an indebtedness owed to any government or governmental authority to which the association has contractual obligations in addition to those set forth in such mortgage or deed of trust.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E"}},"ancestry":[{"id":14850,"edition_id":1,"name":"General Provisions","identifier":"1","label":"article","depth":4,"order_by":1,"parent_id":13509,"metadata":{},"date_created":"2026-06-26 03:50:24","date_modified":"2026-06-26 03:50:24","permalink":{"id":247111,"object_type":"structure","relational_id":14850,"identifier":"1","token":"55.1\/IV\/21\/1","url":"\/55.1\/IV\/21\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13509,"edition_id":1,"name":"Virginia Real Estate Cooperative Act","identifier":"21","label":"chapter","depth":3,"order_by":1,"parent_id":12914,"metadata":{},"date_created":"2026-06-26 03:45:06","date_modified":"2026-06-26 03:45:06","permalink":{"id":247109,"object_type":"structure","relational_id":13509,"identifier":"21","token":"55.1\/IV\/21","url":"\/55.1\/IV\/21\/","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":58909,"structure_id":14850,"section_number":"55.1-2100","catch_line":"Definitions","url":"\/55.1-2100\/","token":"55.1\/IV\/21\/1\/55.1-2100","metadata":false},{"id":80253,"structure_id":14850,"section_number":"55.1-2101","catch_line":"Applicability","url":"\/55.1-2101\/","token":"55.1\/IV\/21\/1\/55.1-2101","metadata":false},{"id":66032,"structure_id":14850,"section_number":"55.1-2102","catch_line":"Variation by agreement","url":"\/55.1-2102\/","token":"55.1\/IV\/21\/1\/55.1-2102","metadata":false},{"id":62799,"structure_id":14850,"section_number":"55.1-2103","catch_line":"Property classification of cooperative interests; taxation","url":"\/55.1-2103\/","token":"55.1\/IV\/21\/1\/55.1-2103","metadata":false},{"id":68257,"structure_id":14850,"section_number":"55.1-2104","catch_line":"Applicability of local ordinances, regulations, and building codes; local authority","url":"\/55.1-2104\/","token":"55.1\/IV\/21\/1\/55.1-2104","metadata":false},{"id":56764,"structure_id":14850,"section_number":"55.1-2105","catch_line":"Eminent domain","url":"\/55.1-2105\/","token":"55.1\/IV\/21\/1\/55.1-2105","metadata":false},{"id":75027,"structure_id":14850,"section_number":"55.1-2106","catch_line":"General principles of law applicable","url":"\/55.1-2106\/","token":"55.1\/IV\/21\/1\/55.1-2106","metadata":false},{"id":79017,"structure_id":14850,"section_number":"55.1-2107","catch_line":"Construction against implicit repeal","url":"\/55.1-2107\/","token":"55.1\/IV\/21\/1\/55.1-2107","metadata":false},{"id":84361,"structure_id":14850,"section_number":"55.1-2108","catch_line":"Uniformity of application and construction","url":"\/55.1-2108\/","token":"55.1\/IV\/21\/1\/55.1-2108","metadata":false},{"id":67484,"structure_id":14850,"section_number":"55.1-2109","catch_line":"Unconscionable agreement or term of contract","url":"\/55.1-2109\/","token":"55.1\/IV\/21\/1\/55.1-2109","metadata":false},{"id":68385,"structure_id":14850,"section_number":"55.1-2110","catch_line":"Obligation of good faith","url":"\/55.1-2110\/","token":"55.1\/IV\/21\/1\/55.1-2110","metadata":false},{"id":75940,"structure_id":14850,"section_number":"55.1-2111","catch_line":"Remedies to be liberally administered","url":"\/55.1-2111\/","token":"55.1\/IV\/21\/1\/55.1-2111","metadata":false}],"previous_section":{"id":58909,"structure_id":14850,"section_number":"55.1-2100","catch_line":"Definitions","url":"\/55.1-2100\/","token":"55.1\/IV\/21\/1\/55.1-2100","metadata":false},"next_section":{"id":66032,"structure_id":14850,"section_number":"55.1-2102","catch_line":"Variation by agreement","url":"\/55.1-2102\/","token":"55.1\/IV\/21\/1\/55.1-2102","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-2101\/","history_text":"<p>This law was first created in 1982. The record of its establishment is cataloged in chapter 277 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 1982 \u201cActs\u201d aren\u2019t available online. It has been modified 4 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 1983, chapter 312; in 1986, chapters 368 and 557; in 2019, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?191+ful+CHAP0712\">712<\/a>; in 2023, chapters <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?231+ful+CHAP0387\">387<\/a> and <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?231+ful+CHAP0388\">388<\/a>.<\/p>","references":false,"refers_to":[{"id":58909,"section_number":"55.1-2100","catch_line":"Definitions","order_by":null,"url":"\/55.1-2100\/"},{"id":68257,"section_number":"55.1-2104","catch_line":"Applicability of local ordinances, regulations, and building codes; local authority","order_by":null,"url":"\/55.1-2104\/"},{"id":56764,"section_number":"55.1-2105","catch_line":"Eminent domain","order_by":null,"url":"\/55.1-2105\/"},{"id":67484,"section_number":"55.1-2109","catch_line":"Unconscionable agreement or term of contract","order_by":null,"url":"\/55.1-2109\/"},{"id":86939,"section_number":"55.1-2114","catch_line":"Construction and validity of declaration and bylaws","order_by":null,"url":"\/55.1-2114\/"},{"id":71160,"section_number":"55.1-2131","catch_line":"Merger or consolidation of cooperatives","order_by":null,"url":"\/55.1-2131\/"},{"id":74016,"section_number":"55.1-2133","catch_line":"Powers of the association","order_by":null,"url":"\/55.1-2133\/"},{"id":63917,"section_number":"55.1-2143","catch_line":"Tort and contract liability","order_by":null,"url":"\/55.1-2143\/"},{"id":60916,"section_number":"55.1-2148","catch_line":"Remedies for nonpayment of assessments; lien; foreclosure","order_by":null,"url":"\/55.1-2148\/"},{"id":61430,"section_number":"55.1-2151","catch_line":"Association records","order_by":null,"url":"\/55.1-2151\/"},{"id":69207,"section_number":"55.1-2153","catch_line":"Applicability; waiver","order_by":null,"url":"\/55.1-2153\/"},{"id":66392,"section_number":"55.1-2160","catch_line":"Purchaser's right to cancel","order_by":null,"url":"\/55.1-2160\/"},{"id":82381,"section_number":"55.1-2169","catch_line":"Effect of violation on rights of action; attorney fees; arbitration of disputes","order_by":null,"url":"\/55.1-2169\/"},{"id":81822,"section_number":"55.1-2170","catch_line":"Labeling of promotional material","order_by":null,"url":"\/55.1-2170\/"},{"id":58593,"section_number":"55.1-2173","catch_line":"Common Interest Community Board","order_by":null,"url":"\/55.1-2173\/"},{"id":70933,"section_number":"55.1-2309","catch_line":"Resale certificate; delivery","order_by":null,"url":"\/55.1-2309\/"}],"permalink":{"id":247117,"object_type":"law","relational_id":80253,"identifier":"55.1-2101","token":"55.1\/IV\/21\/1\/55.1-2101","url":"\/55.1-2101\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-2101\/","token":"55.1\/IV\/21\/1\/55.1-2101","dublin_core":{"Title":"Applicability","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-2101","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> This chapter applies to all <span class=\"dictionary\">cooperatives<\/span> created within the Commonwealth after July 1, 1982. Unless the <span class=\"dictionary\">declaration<\/span> provides that the entire chapter is applicable, such a <span class=\"dictionary\">cooperative<\/span> is subject only to &#xA7;&#xA7; <a class=\"law\" title=\"Applicability of local ordinances, regulations, and building codes; local authority\" href=\"\/55.1-2104\/\">55.1-2104<\/a> and <a class=\"law\" title=\"Eminent domain\" href=\"\/55.1-2105\/\">55.1-2105<\/a> if the <span class=\"dictionary\">cooperative<\/span> contains only <span class=\"dictionary\">units<\/span> restricted to nonresidential use or contains no more than three <span class=\"dictionary\">units<\/span> and is not subject to any <span class=\"dictionary\">development rights<\/span>. <a id=\"paragraph-287297\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/55.1-2101\/#A\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B\"><p><span class=\"prefix-number\">B.<\/span> Except as provided in subsection C, &#xA7;&#xA7; <a class=\"law\" title=\"Definitions\" href=\"\/55.1-2100\/\">55.1-2100<\/a>, <a class=\"law\" title=\"Applicability of local ordinances, regulations, and building codes; local authority\" href=\"\/55.1-2104\/\">55.1-2104<\/a>, <a class=\"law\" title=\"Eminent domain\" href=\"\/55.1-2105\/\">55.1-2105<\/a>, <a class=\"law\" title=\"Unconscionable agreement or term of contract\" href=\"\/55.1-2109\/\">55.1-2109<\/a>, <a class=\"law\" title=\"Construction and validity of declaration and bylaws\" href=\"\/55.1-2114\/\">55.1-2114<\/a>, and <a class=\"law\" title=\"Merger or consolidation of cooperatives\" href=\"\/55.1-2131\/\">55.1-2131<\/a>, subdivisions A 1 through 6 and 11 through 17 of &#xA7; <a class=\"law\" title=\"Powers of the association\" href=\"\/55.1-2133\/\">55.1-2133<\/a>, and &#xA7;&#xA7; <a class=\"law\" title=\"Tort and contract liability\" href=\"\/55.1-2143\/\">55.1-2143<\/a>, <a class=\"law\" title=\"Remedies for nonpayment of assessments; lien; foreclosure\" href=\"\/55.1-2148\/\">55.1-2148<\/a>, <a class=\"law\" title=\"Association records\" href=\"\/55.1-2151\/\">55.1-2151<\/a>, <a class=\"law\" title=\"Effect of violation on rights of action; attorney fees; arbitration of disputes\" href=\"\/55.1-2169\/\">55.1-2169<\/a>, <a class=\"law\" title=\"Labeling of promotional material\" href=\"\/55.1-2170\/\">55.1-2170<\/a>, and <a class=\"law\" title=\"Resale certificate; delivery\" href=\"\/55.1-2309\/\">55.1-2309<\/a> apply to all <span class=\"dictionary\">cooperatives<\/span> created in the Commonwealth before July 1, 1982. Those sections apply only with respect to events and circumstances occurring after July 1, 1982, and do not invalidate existing provisions of the <span class=\"dictionary\">cooperative<\/span> documents of those <span class=\"dictionary\">cooperatives<\/span>. With regard to any <span class=\"dictionary\">cooperative<\/span> created before July 1, 1982, &#xA7; <a class=\"law\" title=\"Applicability of local ordinances, regulations, and building codes; local authority\" href=\"\/55.1-2104\/\">55.1-2104<\/a> applies only to <span class=\"dictionary\">real estate<\/span> acquired by that <span class=\"dictionary\">cooperative<\/span>&#8217;s <span class=\"dictionary\">association<\/span> on or after that date. For the purposes of this section, a <span class=\"dictionary\">cooperative<\/span> was created before July 1, 1982, if the <span class=\"dictionary\">cooperative<\/span> was conveyed to the <span class=\"dictionary\">association<\/span> before that date. <a id=\"paragraph-287298\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/55.1-2101\/#B\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"C\"><p><span class=\"prefix-number\">C.<\/span> If a <span class=\"dictionary\">cooperative<\/span> created within the Commonwealth before July 1, 1982, contains no more than three <span class=\"dictionary\">units<\/span> and is not subject to any <span class=\"dictionary\">development rights<\/span>, it is subject only to &#xA7;&#xA7; <a class=\"law\" title=\"Applicability of local ordinances, regulations, and building codes; local authority\" href=\"\/55.1-2104\/\">55.1-2104<\/a> and <a class=\"law\" title=\"Eminent domain\" href=\"\/55.1-2105\/\">55.1-2105<\/a>, unless the <span class=\"dictionary\">declaration<\/span> is amended to make any or all of the sections enumerated in subsection B apply to that <span class=\"dictionary\">cooperative<\/span>. <a id=\"paragraph-287299\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/55.1-2101\/#C\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"D\"><p><span class=\"prefix-number\">D.<\/span> This chapter does not apply to <span class=\"dictionary\">cooperatives<\/span> or <span class=\"dictionary\">cooperative interests<\/span> located outside the Commonwealth, but the public <span class=\"dictionary\">offering<\/span> statement provisions as given in &#xA7;&#xA7; <a class=\"law\" title=\"Applicability; waiver\" href=\"\/55.1-2153\/\">55.1-2153<\/a> through <a class=\"law\" title=\"Purchaser&#039;s right to cancel\" href=\"\/55.1-2160\/\">55.1-2160<\/a> apply to all <span class=\"dictionary\">contracts<\/span> for the <span class=\"dictionary\">disposition<\/span> of <span class=\"dictionary\">cooperative interests<\/span> signed in the Commonwealth by any <span class=\"dictionary\">party<\/span>, unless exempt under subsection B of &#xA7; <a class=\"law\" title=\"Applicability; waiver\" href=\"\/55.1-2153\/\">55.1-2153<\/a>. The Common Interest Community Board regulations provisions under Article 5 (&#xA7; <a class=\"law\" title=\"Common Interest Community Board\" href=\"\/55.1-2173\/\">55.1-2173<\/a> et seq.) apply to any such <span class=\"dictionary\">offering<\/span> in the Commonwealth. <a id=\"paragraph-287300\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/55.1-2101\/#D\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"E\"><p><span class=\"prefix-number\">E.<\/span> This chapter does not apply to any <span class=\"dictionary\">cooperatives<\/span> that receive federal funding pursuant to the public housing or &#xA7; 8 program under the United States Housing Act of 1937, as amended. <a id=\"paragraph-287301\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/55.1-2101\/#E\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"F\"><p><span class=\"prefix-number\">F.<\/span> This chapter does not apply to any cooperative that, when acquired by an <span class=\"dictionary\">association<\/span>, is subject to a mortgage or deed of trust securing an indebtedness owed to any government or governmental authority to which the <span class=\"dictionary\">association<\/span> has contractual obligations in addition to those set forth in such mortgage or deed of trust. <a id=\"paragraph-287302\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/55.1-2101\/#F\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nAPPLICABILITY (\u00a7 55.1-2101)\n\nA. This chapter applies to all cooperatives created within the Commonwealth\nafter July 1, 1982. Unless the declaration provides that the entire chapter is\napplicable, such a cooperative is subject only to &#xA7;&#xA7; 55.1-2104 and\n55.1-2105 if the cooperative contains only units restricted to nonresidential\nuse or contains no more than three units and is not subject to any development\nrights.\n\nB. Except as provided in subsection C, &#xA7;&#xA7; 55.1-2100, 55.1-2104,\n55.1-2105, 55.1-2109, 55.1-2114, and 55.1-2131, subdivisions A 1 through 6 and\n11 through 17 of &#xA7; 55.1-2133, and &#xA7;&#xA7; 55.1-2143, 55.1-2148,\n55.1-2151, 55.1-2169, 55.1-2170, and 55.1-2309 apply to all cooperatives created\nin the Commonwealth before July 1, 1982. Those sections apply only with respect\nto events and circumstances occurring after July 1, 1982, and do not invalidate\nexisting provisions of the cooperative documents of those cooperatives. With\nregard to any cooperative created before July 1, 1982, &#xA7; 55.1-2104 applies\nonly to real estate acquired by that cooperative&#8217;s association on or after\nthat date. For the purposes of this section, a cooperative was created before\nJuly 1, 1982, if the cooperative was conveyed to the association before that\ndate.\n\nC. If a cooperative created within the Commonwealth before July 1, 1982,\ncontains no more than three units and is not subject to any development rights,\nit is subject only to &#xA7;&#xA7; 55.1-2104 and 55.1-2105, unless the\ndeclaration is amended to make any or all of the sections enumerated in\nsubsection B apply to that cooperative.\n\nD. This chapter does not apply to cooperatives or cooperative interests located\noutside the Commonwealth, but the public offering statement provisions as given\nin &#xA7;&#xA7; 55.1-2153 through 55.1-2160 apply to all contracts for the\ndisposition of cooperative interests signed in the Commonwealth by any party,\nunless exempt under subsection B of &#xA7; 55.1-2153. The Common Interest\nCommunity Board regulations provisions under Article 5 (&#xA7; 55.1-2173 et\nseq.) apply to any such offering in the Commonwealth.\n\nE. This chapter does not apply to any cooperatives that receive federal funding\npursuant to the public housing or &#xA7; 8 program under the United States\nHousing Act of 1937, as amended.\n\nF. This chapter does not apply to any cooperative that, when acquired by an\nassociation, is subject to a mortgage or deed of trust securing an indebtedness\nowed to any government or governmental authority to which the association has\ncontractual obligations in addition to those set forth in such mortgage or deed\nof trust.\n\nHISTORY: 1982, c. 277, \u00a7 55-425; 1983, c. 312; 1986, cc. 368, 557; 2019, c.\n712; 2023, cc. 387, 388.","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}}