{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/59.1-329.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/59.1-329.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/59.1-329.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/59.1-329.html"}],"law_id":71765,"edition_id":1,"section_id":71765,"structure_id":13388,"section_number":"59.1-329","catch_line":"Escrow and bonding","history":"1985, c. 409; 1992, c. 545.","full_text":"A\n\nAll purchase money received from or on behalf of a purchaser in connection with the execution of a membership camping contract shall be deposited in an escrow or trust account designated solely for that purpose, which may be the membership camping operator’s own escrow or trust account or that of his attorney’s, until the expiration of the time for cancellation has expired unless a later time is provided in the membership camping contract. If the contract has not been canceled, any purchase money received from a purchaser may be released to the membership camping operator upon:1\n\nThe conveying to the purchaser of the title to, interest in, or right or license to use the campground and facilities as required in the membership camping contract; or2\n\nThe forfeiture of the purchase money by the purchaser under the terms of the membership camping contract.B\n\nIn lieu of the obligations imposed by subsection A, the membership camping operator may file and maintain with the Commissioner a surety bond issued in favor of the Commissioner for the benefit of purchasers insuring the escrow of the purchase money until such time as it may be released as outlined in subsection A. Such bond may not be canceled until thirty days after written notice of cancellation is received by the Commissioner. In lieu of such bond, the membership camping operator may post with the Commissioner an irrevocable letter of credit in a form and content acceptable to the Commissioner. The penalty of the bond or letter of credit shall be adjusted from time to time in accordance with the following schedule:C\n\nThe amount of purchase money paid by purchasers held at any one time by the membership camping operator shall not exceed the amount for which the operator is bonded or the letter of credit is issued in accordance with the schedule set forth in subsection B.D\n\nIn addition to any bonding requirements contained in this section, the membership camping operator shall file and maintain with the Commissioner a payment and performance bond with surety issued in favor of the Commissioner for the benefit of the purchasers and which guarantees the completion of all incomplete or planned facilities constructed or to be constructed in this Commonwealth as outlined or listed in either the membership camping contract or the membership camping operator’s disclosure statement. The bond may not be canceled until thirty days after written notice of cancellation is received by the Commissioner. In lieu of the bond the membership camping operator may post with the Commissioner an irrevocable letter of credit. The surety bond or letter of credit shall be in a form and content acceptable to the Commissioner. The penalty of the bond or letter of credit shall be in an amount equal to the cost of completing the incomplete or planned facilities as of the date of its issuance or as of the membership camping operator’s application for continued registration date as provided in § 59.1-320.1, whichever is later.","order_by":null,"text":{"0":{"id":258545,"text":"All purchase money received from or on behalf of a purchaser in connection with the execution of a membership camping contract shall be deposited in an escrow or trust account designated solely for that purpose, which may be the membership camping operator’s own escrow or trust account or that of his attorney’s, until the expiration of the time for cancellation has expired unless a later time is provided in the membership camping contract. If the contract has not been canceled, any purchase money received from a purchaser may be released to the membership camping operator upon:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":258546,"text":"The conveying to the purchaser of the title to, interest in, or right or license to use the campground and facilities as required in the membership camping contract; or","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":258547,"text":"The forfeiture of the purchase money by the purchaser under the terms of the membership camping contract.","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"B"},"3":{"id":258548,"text":"In lieu of the obligations imposed by subsection A, the membership camping operator may file and maintain with the Commissioner a surety bond issued in favor of the Commissioner for the benefit of purchasers insuring the escrow of the purchase money until such time as it may be released as outlined in subsection A. Such bond may not be canceled until thirty days after written notice of cancellation is received by the Commissioner. In lieu of such bond, the membership camping operator may post with the Commissioner an irrevocable letter of credit in a form and content acceptable to the Commissioner. The penalty of the bond or letter of credit shall be adjusted from time to time in accordance with the following schedule:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A2","next_prefix":"C"},"4":{"id":258549,"text":"The amount of purchase money paid by purchasers held at any one time by the membership camping operator shall not exceed the amount for which the operator is bonded or the letter of credit is issued in accordance with the schedule set forth in subsection B.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"5":{"id":258550,"text":"In addition to any bonding requirements contained in this section, the membership camping operator shall file and maintain with the Commissioner a payment and performance bond with surety issued in favor of the Commissioner for the benefit of the purchasers and which guarantees the completion of all incomplete or planned facilities constructed or to be constructed in this Commonwealth as outlined or listed in either the membership camping contract or the membership camping operator’s disclosure statement. The bond may not be canceled until thirty days after written notice of cancellation is received by the Commissioner. In lieu of the bond the membership camping operator may post with the Commissioner an irrevocable letter of credit. The surety bond or letter of credit shall be in a form and content acceptable to the Commissioner. The penalty of the bond or letter of credit shall be in an amount equal to the cost of completing the incomplete or planned facilities as of the date of its issuance or as of the membership camping operator’s application for continued registration date as provided in § 59.1-320.1, whichever is later.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":13388,"edition_id":1,"name":"Protection of Purchasers","identifier":"3","label":"article","depth":3,"order_by":1,"parent_id":13387,"metadata":{},"date_created":"2026-06-26 03:44:47","date_modified":"2026-06-26 03:44:47","permalink":{"id":260813,"object_type":"structure","relational_id":13388,"identifier":"3","token":"59.1\/25\/3","url":"\/59.1\/25\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13387,"edition_id":1,"name":"Virginia Membership Camping Act","identifier":"25","label":"chapter","depth":2,"order_by":1,"parent_id":12809,"metadata":{},"date_created":"2026-06-26 03:44:47","date_modified":"2026-06-26 03:44:47","permalink":{"id":260739,"object_type":"structure","relational_id":13387,"identifier":"25","token":"59.1\/25","url":"\/59.1\/25\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12809,"edition_id":1,"name":"Trade and Commerce","identifier":"59.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:54","date_modified":"2026-06-26 03:43:54","permalink":{"id":259521,"object_type":"structure","relational_id":12809,"identifier":"59.1","token":"59.1","url":"\/59.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":54360,"structure_id":13388,"section_number":"59.1-326","catch_line":"Membership camping operator's disclosure statement","url":"\/59.1-326\/","token":"59.1\/25\/3\/59.1-326","metadata":false},{"id":69391,"structure_id":13388,"section_number":"59.1-327","catch_line":"Purchaser's rights","url":"\/59.1-327\/","token":"59.1\/25\/3\/59.1-327","metadata":false},{"id":73946,"structure_id":13388,"section_number":"59.1-328","catch_line":"Membership camping contracts","url":"\/59.1-328\/","token":"59.1\/25\/3\/59.1-328","metadata":false},{"id":71765,"structure_id":13388,"section_number":"59.1-329","catch_line":"Escrow and bonding","url":"\/59.1-329\/","token":"59.1\/25\/3\/59.1-329","metadata":false},{"id":62272,"structure_id":13388,"section_number":"59.1-330","catch_line":"Repealed","url":"\/59.1-330\/","token":"59.1\/25\/3\/59.1-330","metadata":false},{"id":79035,"structure_id":13388,"section_number":"59.1-330.1","catch_line":"Noncomplying contract voidable","url":"\/59.1-330.1\/","token":"59.1\/25\/3\/59.1-330.1","metadata":false},{"id":79248,"structure_id":13388,"section_number":"59.1-330.2","catch_line":"Fraud rendering contract voidable","url":"\/59.1-330.2\/","token":"59.1\/25\/3\/59.1-330.2","metadata":false},{"id":58027,"structure_id":13388,"section_number":"59.1-331","catch_line":"Resale of memberships","url":"\/59.1-331\/","token":"59.1\/25\/3\/59.1-331","metadata":false},{"id":54608,"structure_id":13388,"section_number":"59.1-332","catch_line":"Conditions on offering items as an inducement to execute","url":"\/59.1-332\/","token":"59.1\/25\/3\/59.1-332","metadata":false},{"id":79622,"structure_id":13388,"section_number":"59.1-333","catch_line":"Nondisturbance provisions","url":"\/59.1-333\/","token":"59.1\/25\/3\/59.1-333","metadata":false}],"previous_section":{"id":73946,"structure_id":13388,"section_number":"59.1-328","catch_line":"Membership camping contracts","url":"\/59.1-328\/","token":"59.1\/25\/3\/59.1-328","metadata":false},"next_section":{"id":62272,"structure_id":13388,"section_number":"59.1-330","catch_line":"Repealed","url":"\/59.1-330\/","token":"59.1\/25\/3\/59.1-330","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/59.1-329\/","history_text":"

This law was first created in 1985. The record of its establishment is cataloged in chapter 409 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 1985 \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 1992, chapter 545.<\/p>","references":[{"id":62261,"section_number":"59.1-335","catch_line":"Penalties","order_by":null,"url":"\/59.1-335\/"}],"refers_to":[{"id":81342,"section_number":"59.1-320.1","catch_line":"Review of registration application","order_by":null,"url":"\/59.1-320.1\/"}],"permalink":{"id":260827,"object_type":"law","relational_id":71765,"identifier":"59.1-329","token":"59.1\/25\/3\/59.1-329","url":"\/59.1-329\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/59.1-329\/","token":"59.1\/25\/3\/59.1-329","dublin_core":{"Title":"Escrow and bonding","Type":"Text","Format":"text\/html","Identifier":"\u00a7 59.1-329","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> All purchase money<\/span> received from or on behalf of a purchaser<\/span> in connection with the execution of a membership camping contract<\/span> shall be deposited in an escrow or trust account designated solely for that purpose, which may be the membership camping operator<\/span>’s own escrow or trust account or that of his attorney’s, until the expiration of the time for cancellation has expired unless a later time is provided in the membership camping contract<\/span>. If the contract has not been canceled, any purchase money<\/span> received from a purchaser<\/span> may be released to the membership camping operator<\/span> upon: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The conveying to the purchaser<\/span> of the title to, interest in, or right or license to use the campground<\/span> and facilities as required in the membership camping contract<\/span>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The forfeiture of the purchase money<\/span> by the purchaser<\/span> under the terms of the membership camping contract<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> In lieu of the obligations imposed by subsection A, the membership camping operator<\/span> may file and maintain with the Commissioner<\/span> a surety<\/span> bond<\/span> issued in favor of the Commissioner<\/span> for the benefit of purchasers<\/span> insuring the escrow of the purchase money<\/span> until such time as it may be released as outlined in subsection A. Such bond<\/span> may not be canceled until thirty days after written notice of cancellation is received by the Commissioner<\/span>. In lieu of such bond<\/span>, the membership camping operator<\/span> may post with the Commissioner<\/span> an irrevocable letter of credit in a form and content acceptable to the Commissioner<\/span>. The penalty<\/span> of the bond<\/span> or letter of credit shall be adjusted from time to time in accordance with the following schedule: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The amount of purchase money<\/span> paid by purchasers<\/span> held at any one time by the membership camping operator<\/span> shall not exceed the amount for which the operator is bonded or the letter of credit is issued in accordance with the schedule set forth in subsection B. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> In addition to any bonding requirements contained in this section, the membership camping operator<\/span> shall file and maintain with the Commissioner<\/span> a payment and performance bond<\/span> with surety<\/span> issued in favor of the Commissioner<\/span> for the benefit of the purchasers<\/span> and which guarantees the completion of all incomplete or planned facilities constructed or to be constructed in this Commonwealth as outlined or listed in either the membership camping contract<\/span> or the membership camping operator<\/span>’s disclosure statement<\/span>. The bond<\/span> may not be canceled until thirty days after written notice of cancellation is received by the Commissioner<\/span>. In lieu of the bond<\/span> the membership camping operator<\/span> may post with the Commissioner<\/span> an irrevocable letter of credit. The surety<\/span> bond<\/span> or letter of credit shall be in a form and content acceptable to the Commissioner<\/span>. The penalty<\/span> of the bond<\/span> or letter of credit shall be in an amount equal to the cost of completing the incomplete or planned facilities as of the date of its issuance or as of the membership camping operator<\/span>’s application for continued registration date as provided in § 59.1-320.1<\/a>, whichever is later. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nESCROW AND BONDING (\u00a7 59.1-329)\n\nA. All purchase money received from or on behalf of a purchaser in connection\nwith the execution of a membership camping contract shall be deposited in an\nescrow or trust account designated solely for that purpose, which may be the\nmembership camping operator’s own escrow or trust account or that of his\nattorney’s, until the expiration of the time for cancellation has expired\nunless a later time is provided in the membership camping contract. If the\ncontract has not been canceled, any purchase money received from a purchaser may\nbe released to the membership camping operator upon:\n\n 1. The conveying to the purchaser of the title to, interest in, or right or\n license to use the campground and facilities as required in the membership\n camping contract; or\n\n 2. The forfeiture of the purchase money by the purchaser under the terms of\n the membership camping contract.\n\nB. In lieu of the obligations imposed by subsection A, the membership camping\noperator may file and maintain with the Commissioner a surety bond issued in\nfavor of the Commissioner for the benefit of purchasers insuring the escrow of\nthe purchase money until such time as it may be released as outlined in\nsubsection A. Such bond may not be canceled until thirty days after written\nnotice of cancellation is received by the Commissioner. In lieu of such bond,\nthe membership camping operator may post with the Commissioner an irrevocable\nletter of credit in a form and content acceptable to the Commissioner. The\npenalty of the bond or letter of credit shall be adjusted from time to time in\naccordance with the following schedule:\n\nC. The amount of purchase money paid by purchasers held at any one time by the\nmembership camping operator shall not exceed the amount for which the operator\nis bonded or the letter of credit is issued in accordance with the schedule set\nforth in subsection B.\n\nD. In addition to any bonding requirements contained in this section, the\nmembership camping operator shall file and maintain with the Commissioner a\npayment and performance bond with surety issued in favor of the Commissioner for\nthe benefit of the purchasers and which guarantees the completion of all\nincomplete or planned facilities constructed or to be constructed in this\nCommonwealth as outlined or listed in either the membership camping contract or\nthe membership camping operator’s disclosure statement. The bond may not\nbe canceled until thirty days after written notice of cancellation is received\nby the Commissioner. In lieu of the bond the membership camping operator may\npost with the Commissioner an irrevocable letter of credit. The surety bond or\nletter of credit shall be in a form and content acceptable to the Commissioner.\nThe penalty of the bond or letter of credit shall be in an amount equal to the\ncost of completing the incomplete or planned facilities as of the date of its\nissuance or as of the membership camping operator’s application for\ncontinued registration date as provided in § 59.1-320.1, whichever is\nlater.\n\nHISTORY: 1985, c. 409; 1992, c. 545.","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}}