                                 CODE OF VIRGINIA

PUBLIC OFFERING STATEMENT; TIME-SHARES (§ 55.1-2157)

If the declaration provides that ownership of cooperative interests or occupancy
of any units is or may be in time-shares, the public offering statement shall
disclose, in addition to the information required by § 55.1-2155:

1. The number and identity of units in which time-shares may be created;

2. The total number of time-shares that may be created;

3. The minimum duration of any time-shares that may be created; and

4. The extent to which the creation of time-shares will or may affect the
enforceability of the association&#8217;s lien for assessments provided in
&#xA7; 55.1-2149.

HISTORY: 1982, c. 277, § 55-480; 2019, c. 712.