TITLE 18. PROFESSIONAL AND OCCUPATIONAL LICENSING
TITLE 18. PROFESSIONAL AND OCCUPATIONAL LICENSING
COMMON INTEREST COMMUNITY BOARD
Final Regulation
REGISTRAR'S NOTICE: The Common Interest Community Board is claiming an exemption from Article 2 of the Administrative Process Act in accordance with § 2.2-4006 A 4 a of the Code of Virginia, which excludes regulations that are necessary to conform to changes in Virginia statutory law or the appropriation act where no agency discretion is involved. The board will receive, consider, and respond to petitions by any interested person at any time with respect to reconsideration or revision.
Title of Regulation: 18VAC48-60. Common Interest Community Association Registration Regulations (amending 18VAC48-60-14).
Statutory Authority: § 54.1-2349 of the Code of Virginia.
Effective Date: October 1, 2024.
Agency Contact: Anika Coleman, Executive Director, Common Interest Community Board, 9960 Mayland Drive, Suite 400, Richmond, VA 23233, telephone (804) 367-8510, FAX (866) 490-2723, or email cic@dpor.virginia.gov.
Summary:
Chapters 54, 170, and 511 of the 2024 Acts of Assembly make technical amendments to the Resale Disclosure Act (§ 55.1-2307 et seq. of the Code of Virginia) addressing (i) failure to deliver a resale certificate and contract cancellation, (ii) delivery of resale certificates to a purchaser's agent, (iii) exemptions from the resale certificate requirements, and (iv) fees for preparation and delivery of resale certificates. The amendments conform regulation to statute.
18VAC48-60-14. Association registration, generally.
A. Within the meaning and intent of § 54.1-2349 A 8 of the Code of Virginia, an association is registered upon acceptance by the board of a current annual report and issuance of a certificate of filing by the board in accordance with 18VAC48-60-15 and 18VAC48-60-17.
B. In accordance with § 55.1-2316 E F of the Code of Virginia, an association that is not (i) registered with the board, (ii) current in filing the most recent annual report with the board pursuant to § 55.1-1835, 55.1-1980, or 55.1-2182 of the Code of Virginia, and (iii) current in paying any assessment made by the board pursuant to § 54.1-2354.5 of the Code of Virginia is prohibited from collecting fees for resale certificates authorized by § 55.1-2316 of the Code of Virginia.
C. In accordance with §§ 54.1-2351 and 54.1-2352 of the Code of Virginia, the board may take action against the governing board of an association that fails to register in accordance with this chapter, which action may include issuance of a cease and desist order and an affirmative order to file an annual report or assessment of a monetary penalty of not more than $1,000.
VA.R. Doc. No. R25-7881; Filed August 06, 2024