{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-2243.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-2243.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-2243.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-2243.html"}],"law_id":85456,"edition_id":1,"section_id":85456,"structure_id":14138,"section_number":"55.1-2243","catch_line":"Termination of registration","history":"2012, cc. 481, 797, \u00a7 55-394.2; 2019, c. 712; 2020, c. 1011.","full_text":"A\n\nIn a time-share estate program, if the annual report indicates that the developer has transferred title to the time-share owners’ association and that no further development rights exist, the Board shall issue an order terminating the registration of the time-share program.B\n\nThe Board shall issue an order terminating the registration of a time-share program upon application by the developer in which the developer states that no further development right is anticipated and that the developer has ceased sales of time-shares in the time-share program.C\n\nNotwithstanding any other provisions of this chapter, the Board may administratively terminate the registration of a time-share program if:1\n\nThe developer has not filed an annual report in accordance with § 55.1-2242 for three or more consecutive years; or2\n\nThe developer’s registration with the State Corporation Commission, if applicable, has not been active for five or more consecutive years.","order_by":null,"text":{"0":{"id":306137,"text":"In a time-share estate program, if the annual report indicates that the developer has transferred title to the time-share owners’ association and that no further development rights exist, the Board shall issue an order terminating the registration of the time-share program.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":306138,"text":"The Board shall issue an order terminating the registration of a time-share program upon application by the developer in which the developer states that no further development right is anticipated and that the developer has ceased sales of time-shares in the time-share program.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":306139,"text":"Notwithstanding any other provisions of this chapter, the Board may administratively terminate the registration of a time-share program if:","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"C1"},"3":{"id":306140,"text":"The developer has not filed an annual report in accordance with § 55.1-2242 for three or more consecutive years; or","type":"section","prefixes":["C","1"],"prefix":"1","entire_prefix":"C1","prefix_anchor":"C1","level":2,"prior_prefix":"C","next_prefix":"C2"},"4":{"id":306141,"text":"The developer’s registration with the State Corporation Commission, if applicable, has not been active for five or more consecutive years.","type":"section","prefixes":["C","2"],"prefix":"2","entire_prefix":"C2","prefix_anchor":"C2","level":2,"prior_prefix":"C1"}},"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}],"previous_section":{"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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-2243\/","history_text":"

This law was first created in 2012. The record of its establishment is cataloged in chapters 481<\/a> and 797<\/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. It has been modified 2 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 2019, chapter 712<\/a>; in 2020, chapter 1011<\/a>.<\/p>","references":false,"refers_to":[{"id":63273,"section_number":"55.1-2242","catch_line":"Annual report; amendments","order_by":null,"url":"\/55.1-2242\/"}],"permalink":{"id":247653,"object_type":"law","relational_id":85456,"identifier":"55.1-2243","token":"55.1\/IV\/22\/5\/55.1-2243","url":"\/55.1-2243\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-2243\/","token":"55.1\/IV\/22\/5\/55.1-2243","dublin_core":{"Title":"Termination of registration","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-2243","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> In a time-share estate<\/span> program, if the annual report indicates that the developer<\/span> has transferred title to the time-share owners<\/span>’ association<\/span> and that no further development rights<\/span> exist, the Board<\/span> shall issue<\/span> an order<\/span> terminating the registration of the time-share program<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The Board<\/span> shall issue<\/span> an order<\/span> terminating the registration of a time-share program<\/span> upon application by the developer<\/span> in which the developer<\/span> states that no further development right<\/span> is anticipated and that the developer<\/span> has ceased sales of time-shares<\/span> in the time-share program<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Notwithstanding any other provisions of this chapter, the Board<\/span> may administratively terminate the registration of a time-share program<\/span> if: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The developer<\/span> has not filed an annual report in accordance with § 55.1-2242<\/a> for three or more consecutive years; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The developer<\/span>’s registration with the State Corporation Commission, if applicable, has not been active for five or more consecutive years. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nTERMINATION OF REGISTRATION (\u00a7 55.1-2243)\n\nA. In a time-share estate program, if the annual report indicates that the\ndeveloper has transferred title to the time-share owners’ association and\nthat no further development rights exist, the Board shall issue an order\nterminating the registration of the time-share program.\n\nB. The Board shall issue an order terminating the registration of a time-share\nprogram upon application by the developer in which the developer states that no\nfurther development right is anticipated and that the developer has ceased sales\nof time-shares in the time-share program.\n\nC. Notwithstanding any other provisions of this chapter, the Board may\nadministratively terminate the registration of a time-share program if:\n\n 1. The developer has not filed an annual report in accordance with §\n 55.1-2242 for three or more consecutive years; or\n\n 2. The developer’s registration with the State Corporation Commission,\n if applicable, has not been active for five or more consecutive years.\n\nHISTORY: 2012, cc. 481, 797, \u00a7 55-394.2; 2019, c. 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}}