{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-2131.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-2131.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-2131.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-2131.html"}],"law_id":71160,"edition_id":1,"section_id":71160,"structure_id":13510,"section_number":"55.1-2131","catch_line":"Merger or consolidation of cooperatives","history":"1982, c. 277, \u00a7 55-457; 2019, c. 712.","full_text":"A\n\nAny two or more cooperatives, by agreement of the proprietary lessees as provided in subsection B, may be merged or consolidated into a single cooperative. In the event of a merger or consolidation, unless the agreement otherwise provides, the resultant cooperative is, for all purposes, the legal successor of all of the preexisting cooperatives. The operations and activities of all associations of the preexisting cooperatives shall be merged or consolidated into a single association, which shall hold all powers, rights, obligations, assets, and liabilities of all preexisting associations.B\n\nAn agreement of two or more cooperatives to merge or consolidate pursuant to subsection A must be evidenced by an agreement prepared, executed, recorded, and certified by the president of the association of each of the preexisting cooperatives following approval by proprietary lessees of cooperative interests to which are allocated the percentage of votes in each cooperative required to terminate that cooperative. Any such agreement must be recorded in every county or city in which a portion of the cooperative is located and is not effective until recorded.C\n\nEvery merger or consolidation agreement must provide for the reallocation of the allocated interests in the new association among the cooperative interests of the resultant cooperative either (i) by stating the reallocations or the formulas upon which they are based or (ii) by stating the percentage of overall allocated interest of the new cooperative that are allocated to all of the cooperative interests comprising each of the preexisting cooperatives and providing that the portion of the percentages allocated to each cooperative interest formerly comprising a part of the preexisting cooperative must be equal to the percentages of allocated interests allocated to that cooperative interest by the declaration of the preexisting cooperative.","order_by":null,"text":{"0":{"id":256527,"text":"Any two or more cooperatives, by agreement of the proprietary lessees as provided in subsection B, may be merged or consolidated into a single cooperative. In the event of a merger or consolidation, unless the agreement otherwise provides, the resultant cooperative is, for all purposes, the legal successor of all of the preexisting cooperatives. The operations and activities of all associations of the preexisting cooperatives shall be merged or consolidated into a single association, which shall hold all powers, rights, obligations, assets, and liabilities of all preexisting associations.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":256528,"text":"An agreement of two or more cooperatives to merge or consolidate pursuant to subsection A must be evidenced by an agreement prepared, executed, recorded, and certified by the president of the association of each of the preexisting cooperatives following approval by proprietary lessees of cooperative interests to which are allocated the percentage of votes in each cooperative required to terminate that cooperative. Any such agreement must be recorded in every county or city in which a portion of the cooperative is located and is not effective until recorded.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":256529,"text":"Every merger or consolidation agreement must provide for the reallocation of the allocated interests in the new association among the cooperative interests of the resultant cooperative either (i) by stating the reallocations or the formulas upon which they are based or (ii) by stating the percentage of overall allocated interest of the new cooperative that are allocated to all of the cooperative interests comprising each of the preexisting cooperatives and providing that the portion of the percentages allocated to each cooperative interest formerly comprising a part of the preexisting cooperative must be equal to the percentages of allocated interests allocated to that cooperative interest by the declaration of the preexisting cooperative.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":13510,"edition_id":1,"name":"Creation, Alteration, and Termination of Cooperatives","identifier":"2","label":"article","depth":4,"order_by":1,"parent_id":13509,"metadata":{},"date_created":"2026-06-26 03:45:06","date_modified":"2026-06-26 03:45:06","permalink":{"id":247161,"object_type":"structure","relational_id":13510,"identifier":"2","token":"55.1\/IV\/21\/2","url":"\/55.1\/IV\/21\/2\/","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":75913,"structure_id":13510,"section_number":"55.1-2112","catch_line":"Creation of cooperative ownership","url":"\/55.1-2112\/","token":"55.1\/IV\/21\/2\/55.1-2112","metadata":false},{"id":82447,"structure_id":13510,"section_number":"55.1-2113","catch_line":"Unit boundaries","url":"\/55.1-2113\/","token":"55.1\/IV\/21\/2\/55.1-2113","metadata":false},{"id":86939,"structure_id":13510,"section_number":"55.1-2114","catch_line":"Construction and validity of declaration and bylaws","url":"\/55.1-2114\/","token":"55.1\/IV\/21\/2\/55.1-2114","metadata":false},{"id":71260,"structure_id":13510,"section_number":"55.1-2115","catch_line":"Description of units","url":"\/55.1-2115\/","token":"55.1\/IV\/21\/2\/55.1-2115","metadata":false},{"id":60682,"structure_id":13510,"section_number":"55.1-2116","catch_line":"Contents of declaration","url":"\/55.1-2116\/","token":"55.1\/IV\/21\/2\/55.1-2116","metadata":false},{"id":72102,"structure_id":13510,"section_number":"55.1-2117","catch_line":"Leasehold cooperatives","url":"\/55.1-2117\/","token":"55.1\/IV\/21\/2\/55.1-2117","metadata":false},{"id":66972,"structure_id":13510,"section_number":"55.1-2118","catch_line":"Allocation of ownership interests, votes, and common expense liabilities","url":"\/55.1-2118\/","token":"55.1\/IV\/21\/2\/55.1-2118","metadata":false},{"id":84579,"structure_id":13510,"section_number":"55.1-2119","catch_line":"Limited common elements","url":"\/55.1-2119\/","token":"55.1\/IV\/21\/2\/55.1-2119","metadata":false},{"id":65450,"structure_id":13510,"section_number":"55.1-2120","catch_line":"Exercise of development rights","url":"\/55.1-2120\/","token":"55.1\/IV\/21\/2\/55.1-2120","metadata":false},{"id":73544,"structure_id":13510,"section_number":"55.1-2121","catch_line":"Alterations of units","url":"\/55.1-2121\/","token":"55.1\/IV\/21\/2\/55.1-2121","metadata":false},{"id":61131,"structure_id":13510,"section_number":"55.1-2122","catch_line":"Relocation of boundaries between adjoining units","url":"\/55.1-2122\/","token":"55.1\/IV\/21\/2\/55.1-2122","metadata":false},{"id":72357,"structure_id":13510,"section_number":"55.1-2123","catch_line":"Subdivision of units","url":"\/55.1-2123\/","token":"55.1\/IV\/21\/2\/55.1-2123","metadata":false},{"id":54476,"structure_id":13510,"section_number":"55.1-2124","catch_line":"Easement for encroachments","url":"\/55.1-2124\/","token":"55.1\/IV\/21\/2\/55.1-2124","metadata":false},{"id":79793,"structure_id":13510,"section_number":"55.1-2125","catch_line":"Use for sales purposes","url":"\/55.1-2125\/","token":"55.1\/IV\/21\/2\/55.1-2125","metadata":false},{"id":65491,"structure_id":13510,"section_number":"55.1-2126","catch_line":"Easement rights","url":"\/55.1-2126\/","token":"55.1\/IV\/21\/2\/55.1-2126","metadata":false},{"id":62864,"structure_id":13510,"section_number":"55.1-2127","catch_line":"Amendment of declaration","url":"\/55.1-2127\/","token":"55.1\/IV\/21\/2\/55.1-2127","metadata":false},{"id":79915,"structure_id":13510,"section_number":"55.1-2128","catch_line":"Termination of cooperative ownership","url":"\/55.1-2128\/","token":"55.1\/IV\/21\/2\/55.1-2128","metadata":false},{"id":69933,"structure_id":13510,"section_number":"55.1-2129","catch_line":"Rights of secured lenders","url":"\/55.1-2129\/","token":"55.1\/IV\/21\/2\/55.1-2129","metadata":false},{"id":58552,"structure_id":13510,"section_number":"55.1-2130","catch_line":"Master associations","url":"\/55.1-2130\/","token":"55.1\/IV\/21\/2\/55.1-2130","metadata":false},{"id":71160,"structure_id":13510,"section_number":"55.1-2131","catch_line":"Merger or consolidation of cooperatives","url":"\/55.1-2131\/","token":"55.1\/IV\/21\/2\/55.1-2131","metadata":false}],"previous_section":{"id":58552,"structure_id":13510,"section_number":"55.1-2130","catch_line":"Master associations","url":"\/55.1-2130\/","token":"55.1\/IV\/21\/2\/55.1-2130","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-2131\/","history_text":"

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 1 time. 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. That modification is as follows: in 2019, chapter 712<\/a>.<\/p>","references":[{"id":80253,"section_number":"55.1-2101","catch_line":"Applicability","order_by":null,"url":"\/55.1-2101\/"}],"refers_to":false,"permalink":{"id":247239,"object_type":"law","relational_id":71160,"identifier":"55.1-2131","token":"55.1\/IV\/21\/2\/55.1-2131","url":"\/55.1-2131\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-2131\/","token":"55.1\/IV\/21\/2\/55.1-2131","dublin_core":{"Title":"Merger or consolidation of cooperatives","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-2131","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Any two or more cooperatives<\/span>, by agreement of the proprietary lessees<\/span> as provided in subsection B, may be merged or consolidated into a single cooperative<\/span>. In the event of a merger or consolidation<\/span>, unless the agreement otherwise provides, the resultant cooperative<\/span> is, for all purposes, the legal successor of all of the preexisting cooperatives<\/span>. The operations and activities of all associations<\/span> of the preexisting cooperatives<\/span> shall be merged or consolidated into a single association<\/span>, which shall hold all powers, rights, obligations, assets<\/span>, and liabilities of all preexisting associations<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> An agreement of two or more cooperatives<\/span> to merge or consolidate pursuant to subsection A must be evidenced by an agreement prepared, executed, recorded, and certified by the president of the association<\/span> of each of the preexisting cooperatives<\/span> following approval by proprietary lessees<\/span> of cooperative interests<\/span> to which are allocated the percentage of votes in each cooperative required to terminate that cooperative. Any such agreement must be recorded in every county or city in which a portion of the cooperative is located and is not effective until recorded. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Every merger or consolidation<\/span> agreement must provide for the reallocation of the allocated interests<\/span> in the new association<\/span> among the cooperative interests<\/span> of the resultant cooperative either (i) by stating the reallocations or the formulas upon which they are based or (ii) by stating the percentage of overall allocated interest of the new cooperative that are allocated to all of the cooperative interests<\/span> comprising each of the preexisting cooperatives<\/span> and providing that the portion of the percentages allocated to each cooperative interest<\/span> formerly comprising a part of the preexisting cooperative must be equal to the percentages of allocated interests<\/span> allocated to that cooperative interest<\/span> by the declaration<\/span> of the preexisting cooperative. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nMERGER OR CONSOLIDATION OF COOPERATIVES (\u00a7 55.1-2131)\n\nA. Any two or more cooperatives, by agreement of the proprietary lessees as\nprovided in subsection B, may be merged or consolidated into a single\ncooperative. In the event of a merger or consolidation, unless the agreement\notherwise provides, the resultant cooperative is, for all purposes, the legal\nsuccessor of all of the preexisting cooperatives. The operations and activities\nof all associations of the preexisting cooperatives shall be merged or\nconsolidated into a single association, which shall hold all powers, rights,\nobligations, assets, and liabilities of all preexisting associations.\n\nB. An agreement of two or more cooperatives to merge or consolidate pursuant to\nsubsection A must be evidenced by an agreement prepared, executed, recorded, and\ncertified by the president of the association of each of the preexisting\ncooperatives following approval by proprietary lessees of cooperative interests\nto which are allocated the percentage of votes in each cooperative required to\nterminate that cooperative. Any such agreement must be recorded in every county\nor city in which a portion of the cooperative is located and is not effective\nuntil recorded.\n\nC. Every merger or consolidation agreement must provide for the reallocation of\nthe allocated interests in the new association among the cooperative interests\nof the resultant cooperative either (i) by stating the reallocations or the\nformulas upon which they are based or (ii) by stating the percentage of overall\nallocated interest of the new cooperative that are allocated to all of the\ncooperative interests comprising each of the preexisting cooperatives and\nproviding that the portion of the percentages allocated to each cooperative\ninterest formerly comprising a part of the preexisting cooperative must be equal\nto the percentages of allocated interests allocated to that cooperative interest\nby the declaration of the preexisting cooperative.\n\nHISTORY: 1982, c. 277, \u00a7 55-457; 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}}