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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>61475</law_id><section_number>55.1-1804</section_number><catch_line>Documents to be provided by declarant upon transfer of control</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="55.1">Property and Conveyances</unit><unit label="subtitle" level="2" order_by="1" identifier="IV">Common Interest Communities</unit><unit label="chapter" level="3" order_by="1" identifier="18">Property Owners' Association Act</unit><unit label="article" level="4" order_by="1" identifier="1">General Provisions</unit></structure><text>
						<section><p>Unless previously provided to the <span class="dictionary">board of directors</span> of the <span class="dictionary">association</span>, once the majority of the members of the <span class="dictionary">board of directors</span> other than the <span class="dictionary">declarant</span> are owners of improved <span class="dictionary">lots</span> in the <span class="dictionary">association</span> and the <span class="dictionary">declarant</span> no longer holds a majority of the votes in the <span class="dictionary">association</span>, the <span class="dictionary">declarant</span> shall provide to the <span class="dictionary">board of directors</span> or its designated agent the following: (i) all <span class="dictionary">association</span> books and records held by or controlled by the <span class="dictionary">declarant</span>, including minute books and rules and regulations and all amendments to such rules and regulations that may have been promulgated; (ii) a statement of receipts and expenditures from the date of the recording of the <span class="dictionary">association</span> documents to the end of the regular accounting period immediately succeeding the first election of the <span class="dictionary">board of directors</span> by the <span class="dictionary">lot owners</span>, not to exceed 60 days after the date of the election, such statement being prepared in an accurate and complete manner, utilizing the accrual method of accounting; (iii) the number of <span class="dictionary">lots</span> subject to the <span class="dictionary">declaration</span>; (iv) the number of <span class="dictionary">lots</span> that may be subject to the <span class="dictionary">declaration</span> upon completion of <span class="dictionary">development</span>; (v) a copy of the latest available approved plans and specifications for all improvements in the project or as-built plans if available; (vi) all <span class="dictionary">association</span> insurance policies that are currently in force; (vii) written unexpired warranties of the contractors, subcontractors, suppliers, and manufacturers, if any, relative to all <span class="dictionary">common area</span> improvements, including stormwater facilities; (viii) any <span class="dictionary">contracts</span> in which the <span class="dictionary">association</span> is a contracting <span class="dictionary">party</span>; (ix) a list of manufacturers of paints, roofing <span class="dictionary">materials</span>, and other similar <span class="dictionary">materials</span> if specified for use on the <span class="dictionary">association</span> property; (x) the number of members of the <span class="dictionary">board of directors</span> and number of such directors appointed by the <span class="dictionary">declarant</span> together with names and contact information of members of the <span class="dictionary">board of directors</span>; and (xi) an inventory and description of stormwater facilities located on the <span class="dictionary">common area</span> or which otherwise serve the <span class="dictionary">development</span> and for which the <span class="dictionary">association</span> has, or subsequently may have, maintenance, repair, or replacement responsibility, together with the requirements for maintenance thereof.
		The requirement for delivery of stormwater facility information required by clause (xi) shall be deemed satisfied by delivery to the <span class="dictionary">association</span> of a final site plan or final construction drawings showing stormwater facilities as approved by a local government <span class="dictionary">jurisdiction</span> and applicable recorded easements or agreements, if any, containing requirements for the maintenance, repair, or replacement of the stormwater facilities.
		If the <span class="dictionary">association</span> is managed by a <span class="dictionary"><span class="dictionary">common interest community</span> manager</span> in which the <span class="dictionary">declarant</span>, or its principals, has no pecuniary interest or management role, then such <span class="dictionary"><span class="dictionary">common interest community</span> manager</span> shall have the responsibility to provide the documents and information required by clauses (i), (ii), (vi), and (viii).</p></section></text><history>1996, c. 618, &#xA7; 55-509.2; 2008, cc. 851, 871; 2012, c. 671; 2019, cc. 712, 724.</history><metadata></metadata></law>
