                                 CODE OF VIRGINIA

PAYMENT AND CALCULATION OF REFUNDS (§ 59.1-297.1)

A. All refunds for cancellation of membership shall be paid within 30 days of
the health club&#8217;s receipt of written notice of cancellation by the buyer
and calculated by:

   1. Dividing the contract price by the term of the contract in days;

   2. Multiplying the number obtained in subdivision 1 by the number of days
   between the effective date of the contract and the date of cancellation; and

   3. Subtracting the number obtained in subdivision 2 from the total price paid
   on the health club contract.

B. In the event of the health club going out of business, the date of
cancellation shall be the date the health club ceased providing health club
services at the facility.

C. A health club issuing a refund to a buyer under this chapter shall do so
within 30 days of the health club receiving a notice of cancellation pursuant to
&#xA7; 59.1-297, or within 30 days of the permanent closing of the facility
designated in the buyer&#8217;s contract.

HISTORY: 2003, c. 344; 2010, c. 439; 2014, c. 459.