                                 CODE OF VIRGINIA

DOCUMENTS TO BE PROVIDED BY DECLARANT UPON TRANSFER OF CONTROL (§ 55.1-1804)

Unless previously provided to the board of directors of the association, once
the majority of the members of the board of directors other than the declarant
are owners of improved lots in the association and the declarant no longer holds
a majority of the votes in the association, the declarant shall provide to the
board of directors or its designated agent the following: (i) all association
books and records held by or controlled by the declarant, 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 association documents to the end of the regular
accounting period immediately succeeding the first election of the board of
directors by the lot owners, 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 lots subject to
the declaration; (iv) the number of lots that may be subject to the declaration
upon completion of development; (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 association insurance policies that are currently in
force; (vii) written unexpired warranties of the contractors, subcontractors,
suppliers, and manufacturers, if any, relative to all common area improvements,
including stormwater facilities; (viii) any contracts in which the association
is a contracting party; (ix) a list of manufacturers of paints, roofing
materials, and other similar materials if specified for use on the association
property; (x) the number of members of the board of directors and number of such
directors appointed by the declarant together with names and contact information
of members of the board of directors; and (xi) an inventory and description of
stormwater facilities located on the common area or which otherwise serve the
development and for which the association 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 association of a final
site plan or final construction drawings showing stormwater facilities as
approved by a local government jurisdiction and applicable recorded easements or
agreements, if any, containing requirements for the maintenance, repair, or
replacement of the stormwater facilities.
		If the association is managed by a common interest community manager in which
the declarant, or its principals, has no pecuniary interest or management role,
then such common interest community manager shall have the responsibility to
provide the documents and information required by clauses (i), (ii), (vi), and
(viii).

HISTORY: 1996, c. 618, § 55-509.2; 2008, cc. 851, 871; 2012, c. 671; 2019, cc.
712, 724.