                                 CODE OF VIRGINIA

ASSESSMENTS FOR COMMON EXPENSES (§ 55.1-2146)

A. Until the association makes a common expense assessment, the declarant shall
pay all common expenses. After any assessment has been made by the association,
assessments must be made at least annually, based on a budget adopted at least
annually by the association.

B. Except for assessments under subsections C, D, E, and F, all common expenses
shall be assessed against all the cooperative interests in accordance with the
allocations set forth in the declaration pursuant to subsection A of &#xA7;
55.1-2118.
			Any past-due common expense assessment or installment bears interest at the
rate established by the association not exceeding 18 percent per year.

C. To the extent required by the declaration:

   1. Any common expense associated with the maintenance, repair, or replacement
   of a limited common element must be assessed equally against the cooperative
   interests for the units to which that limited common element is assigned, or
   in any other proportion that the declaration provides;

   2. Any common expense or portion benefiting fewer than all of the units must
   be assessed exclusively against the cooperative interests for the units
   benefited; and

   3. The costs of insurance must be assessed in proportion to risk, and the
   costs of utilities must be assessed in proportion to usage.

D. Assessments to pay a judgment against the association may be made only
against the cooperative interests in the cooperative at the time the judgment
was entered, in proportion to their common expense liabilities.

E. If any common expense is caused by the negligence or other misconduct of any
proprietary lessee, or of his family members, tenants, or other invitees, the
association may assess that expense exclusively against his cooperative
interest.

F. Notwithstanding any other provision in this section, in any cooperative where
permanent residency is, in general, restricted to individuals age 55 and over,
and the primary purpose of the association is to provide services and amenities
to the residents of the cooperative that are consistent with the services and
amenities typically provided to residents of full service senior housing
communities in the United States, the declaration may provide, or may be amended
to provide by vote or agreement of proprietary lessees of cooperative interests
to which at least two-thirds of the votes in the association are allocated, or
any larger percentage if so specified in the declaration, that:

   1. Common expenses may be assessed against all cooperative interests in
   accordance with the standards in general use from time to time among
   full-service senior housing communities in the United States for the purpose
   of fairly and equitably establishing the fees and charges imposed on their
   residents to pay for all common expenses of such senior housing communities,
   including the expenses of providing services and amenities, such standards to
   be determined by the executive board of the association, acting reasonably;

   2. Common expenses may be assessed against any cooperative interest that has
   been created pursuant to the declaration but as to which construction of the
   unit appurtenant to such cooperative interest has not been completed, provided
   that nothing contained in this subdivision shall relieve the declarant of its
   obligations under subsection B of &#xA7; 55.1-2138; and

   3. Common expenses may be assessed against any cooperative interest as to
   which the unit appurtenant to such cooperative interest has been completed
   until the unit is initially permanently occupied, provided, however, that all
   such cooperative interests shall pay all direct expenses of the association
   related to such cooperative interests and any common expenses that directly
   benefit such cooperative interest, in each case, determined in accordance with
   the provisions set forth in the declaration or the association&#8217;s bylaws,
   provided, however, that if neither the declaration nor the bylaws contain such
   provisions, then such expenses shall be paid in accordance with the
   allocations set forth in the declaration pursuant to subsection A of &#xA7;
   55.1-2118.

G. If common expense liabilities are reallocated, common expense assessments and
any installment not yet due shall be recalculated in accordance with the
reallocated common expense liabilities.

HISTORY: 1982, c. 277, § 55-471; 2008, c. 627; 2019, c. 712.