                                 CODE OF VIRGINIA

ANNUAL REPORT; AMENDMENTS (§ 55.1-2242)

A. The developer shall file a report in the form prescribed by the Board&#8217;s
regulations by June 30 of each year the registration is effective. The developer
of any time-share program initially registered with the Board between January
and June shall not be required to file an annual report for the year in which it
was initially registered. The report shall reflect any material changes in
information contained in the original application for registration or in the
immediately preceding annual report, whichever is later, and shall be
accompanied by the appropriate fee established by the Board&#8217;s regulations
or pursuant to &#xA7; 55.1-2240.

B. During the developer control period in a time-share estate program, the
developer shall file a copy of the unit owners&#8217; association annual report
required by &#xA7; 55.1-2213 along with the annual report required by this
section.

C. The developer shall amend or supplement its registration with the Board to
report any material change in the information required by &#xA7;&#xA7; 55.1-2217
and 55.1-2239. Such amendments or supplemental information shall be filed with
the Board within 20 business days after the occurrence of the material change.

HISTORY: Code 1950, § 55-394; 1981, c. 462; 1985, c. 517, § 55-394.1; 1998, c.
460; 2006, c. 653; 2012, cc. 481, 797; 2019, c. 712; 2020, c. 1011.