<?xml version="1.0"?>
<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>86939</law_id><section_number>55.1-2114</section_number><catch_line>Construction and validity of declaration and bylaws</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>55.1-2101</reference></referred_to_by><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="21">Virginia Real Estate Cooperative Act</unit><unit label="article" level="4" order_by="1" identifier="2">Creation, Alteration, and Termination of Cooperatives</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> All provisions of the <span class="dictionary">declaration</span> and bylaws are severable. <a id="paragraph-311262" class="section-permalink" href="https://vacode.org/55.1-2114/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> The rule against perpetuities shall not be applied to defeat any provision of the <span class="dictionary">declaration</span>, bylaws, or rules and regulations adopted pursuant to subdivision A 1 of &#xA7; <a class="law" title="Powers of the association" href="/55.1-2133/">55.1-2133</a>. <a id="paragraph-311263" class="section-permalink" href="https://vacode.org/55.1-2114/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> In the event of a conflict between the provisions of the <span class="dictionary">declaration</span> and the bylaws, the <span class="dictionary">declaration</span> prevails except to the extent that the <span class="dictionary">declaration</span> is inconsistent with this chapter. <a id="paragraph-311264" class="section-permalink" href="https://vacode.org/55.1-2114/#C"><i class="fa fa-link"/></a></p></section>
						<section id="D"><p><span class="prefix-number">D.</span> Title to a <span class="dictionary">cooperative interest</span> is not rendered unmarketable or otherwise affected by reason of an insubstantial failure of the <span class="dictionary">declaration</span> to comply with this chapter. Whether a substantial failure impairs marketability is not affected by this chapter. <a id="paragraph-311265" class="section-permalink" href="https://vacode.org/55.1-2114/#D"><i class="fa fa-link"/></a></p></section></text><history>1982, c. 277, &#xA7; 55-440; 2019, c. 712.</history><metadata></metadata></law>
