                                 CODE OF VIRGINIA

OFFICERS (§ 55.1-1954)

A. If the condominium instruments provide that any officer must be a unit owner,
then any such officer who disposes of all of his units in fee shall be deemed to
have disqualified himself from continuing in office unless the condominium
instruments otherwise provide, or unless he acquires or contracts to acquire
another unit in the condominium under terms giving him a right of occupancy
effective on or before the termination of his right of occupancy under such
disposition.

B. If the condominium instruments provide that any officer must be a unit owner,
then notwithstanding the provisions of subdivision 1 of &#xA7; 55.1-1912, the
term &#8220;unit owner&#8221; in such context shall, unless the condominium
instruments otherwise provide, be deemed to include any director, officer,
partner in, or trustee of any person that is, either alone or in conjunction
with another person, a unit owner. Any officer who would not be eligible to
serve as such were he not a director, officer, partner in, or trustee of such a
person, shall be deemed to have disqualified himself from continuing in office
if he ceases to have any such affiliation with that person, or if that person
would itself have been deemed to have disqualified itself from continuing in
such office under subsection A were it a natural person holding such office.

HISTORY: 1974, c. 416, § 55-79.78; 1991, c. 497; 2002, c. 520; 2019, c. 712.