{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-2238.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-2238.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-2238.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-2238.html"}],"law_id":62033,"edition_id":1,"section_id":62033,"structure_id":14138,"section_number":"55.1-2238","catch_line":"Registration of time-share program required","history":"1981, c. 462, \u00a7 55-390; 1983, c. 59; 1985, c. 517; 1994, c. 580; 2019, c. 712; 2020, c. 1011.","full_text":"A\n\nA developer may not offer or dispose of any interest in a time-share program unless the time-share program has been properly registered with the Board. A developer may accept a nonbinding reservation together with a deposit if the deposit is placed in an escrow account with an institution having trust powers within the Commonwealth and is refundable at any time at the purchaser’s option. In all cases, the reservation shall require a subsequent affirmative act by the purchaser via a separate instrument to create a binding obligation. A developer may not dispose of or transfer a time-share while an order revoking or suspending the registration of the time-share program is in effect.B\n\nThe developer shall maintain records of names and addresses of current independent contractors employed by it for time-share sales purposes.","order_by":null,"text":{"0":{"id":226382,"text":"A developer may not offer or dispose of any interest in a time-share program unless the time-share program has been properly registered with the Board. A developer may accept a nonbinding reservation together with a deposit if the deposit is placed in an escrow account with an institution having trust powers within the Commonwealth and is refundable at any time at the purchaser’s option. In all cases, the reservation shall require a subsequent affirmative act by the purchaser via a separate instrument to create a binding obligation. A developer may not dispose of or transfer a time-share while an order revoking or suspending the registration of the time-share program is in effect.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":226383,"text":"The developer shall maintain records of names and addresses of current independent contractors employed by it for time-share sales purposes.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":14138,"edition_id":1,"name":"Registration","identifier":"5","label":"article","depth":4,"order_by":1,"parent_id":13543,"metadata":{},"date_created":"2026-06-26 03:46:59","date_modified":"2026-06-26 03:46:59","permalink":{"id":247631,"object_type":"structure","relational_id":14138,"identifier":"5","token":"55.1\/IV\/22\/5","url":"\/55.1\/IV\/22\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13543,"edition_id":1,"name":"Virginia Real Estate Time-Share Act","identifier":"22","label":"chapter","depth":3,"order_by":1,"parent_id":12914,"metadata":{},"date_created":"2026-06-26 03:45:10","date_modified":"2026-06-26 03:45:10","permalink":{"id":247469,"object_type":"structure","relational_id":13543,"identifier":"22","token":"55.1\/IV\/22","url":"\/55.1\/IV\/22\/","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":62033,"structure_id":14138,"section_number":"55.1-2238","catch_line":"Registration of time-share program required","url":"\/55.1-2238\/","token":"55.1\/IV\/22\/5\/55.1-2238","metadata":false},{"id":70862,"structure_id":14138,"section_number":"55.1-2239","catch_line":"Application for registration","url":"\/55.1-2239\/","token":"55.1\/IV\/22\/5\/55.1-2239","metadata":false},{"id":62814,"structure_id":14138,"section_number":"55.1-2240","catch_line":"Filing fee","url":"\/55.1-2240\/","token":"55.1\/IV\/22\/5\/55.1-2240","metadata":false},{"id":58458,"structure_id":14138,"section_number":"55.1-2241","catch_line":"Receipt of application; effectiveness of registration","url":"\/55.1-2241\/","token":"55.1\/IV\/22\/5\/55.1-2241","metadata":false},{"id":63273,"structure_id":14138,"section_number":"55.1-2242","catch_line":"Annual report; amendments","url":"\/55.1-2242\/","token":"55.1\/IV\/22\/5\/55.1-2242","metadata":false},{"id":85456,"structure_id":14138,"section_number":"55.1-2243","catch_line":"Termination of registration","url":"\/55.1-2243\/","token":"55.1\/IV\/22\/5\/55.1-2243","metadata":false},{"id":67895,"structure_id":14138,"section_number":"55.1-2244","catch_line":"Registration required for time-share resellers; exemptions; prohibited practices","url":"\/55.1-2244\/","token":"55.1\/IV\/22\/5\/55.1-2244","metadata":false},{"id":55285,"structure_id":14138,"section_number":"55.1-2245","catch_line":"Recordkeeping by resellers","url":"\/55.1-2245\/","token":"55.1\/IV\/22\/5\/55.1-2245","metadata":false},{"id":69214,"structure_id":14138,"section_number":"55.1-2246","catch_line":"Alternative purchase; registration","url":"\/55.1-2246\/","token":"55.1\/IV\/22\/5\/55.1-2246","metadata":false}],"next_section":{"id":70862,"structure_id":14138,"section_number":"55.1-2239","catch_line":"Application for registration","url":"\/55.1-2239\/","token":"55.1\/IV\/22\/5\/55.1-2239","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-2238\/","history_text":"

This law was first created in 1981. The record of its establishment is cataloged in chapter 462 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 1981 \u201cActs\u201d aren\u2019t available online. It has been modified 5 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 59; in 1985, chapter 517; in 1994, chapter 580<\/a>; in 2019, chapter 712<\/a>; in 2020, chapter 1011<\/a>.<\/p>","references":[{"id":54508,"section_number":"55.1-2252","catch_line":"Penalties","order_by":null,"url":"\/55.1-2252\/"}],"refers_to":false,"permalink":{"id":247633,"object_type":"law","relational_id":62033,"identifier":"55.1-2238","token":"55.1\/IV\/22\/5\/55.1-2238","url":"\/55.1-2238\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-2238\/","token":"55.1\/IV\/22\/5\/55.1-2238","dublin_core":{"Title":"Registration of time-share program required","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-2238","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A developer<\/span> may not offer<\/span> or dispose<\/span> of any interest in a time-share program<\/span> unless the time-share program<\/span> has been properly registered with the Board<\/span>. A developer<\/span> may accept a nonbinding reservation together with a deposit if the deposit is placed in an escrow account with an institution having trust powers within the Commonwealth and is refundable at any time at the purchaser<\/span>’s option. In all cases, the reservation shall require a subsequent affirmative act by the purchaser<\/span> via a separate instrument to create a binding obligation. A developer<\/span> may not dispose<\/span> of or transfer<\/span> a time-share while an order<\/span> revoking or suspending the registration of the time-share program<\/span> is in effect. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The developer<\/span> shall maintain records of names and addresses of current independent contractors employed by it for time-share sales purposes. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nREGISTRATION OF TIME-SHARE PROGRAM REQUIRED (\u00a7 55.1-2238)\n\nA. A developer may not offer or dispose of any interest in a time-share program\nunless the time-share program has been properly registered with the Board. A\ndeveloper may accept a nonbinding reservation together with a deposit if the\ndeposit is placed in an escrow account with an institution having trust powers\nwithin the Commonwealth and is refundable at any time at the purchaser’s\noption. In all cases, the reservation shall require a subsequent affirmative act\nby the purchaser via a separate instrument to create a binding obligation. A\ndeveloper may not dispose of or transfer a time-share while an order revoking or\nsuspending the registration of the time-share program is in effect.\n\nB. The developer shall maintain records of names and addresses of current\nindependent contractors employed by it for time-share sales purposes.\n\nHISTORY: 1981, c. 462, \u00a7 55-390; 1983, c. 59; 1985, c. 517; 1994, c. 580; 2019,\nc. 712; 2020, c. 1011.","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}}