Virginia Code 36-85.32: Recovery from fund generally.
Any person who suffers any loss or damage by any act of a regulant that constitutes a violation of this chapter shall have the right to institute an action to recover from the recovery fund.
Terms Used In Virginia Code 36-85.32
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Board: means the Virginia Manufactured Housing Board. See Virginia Code 36-85.16
- broker: means any person, partnership, association or corporation, resident or nonresident, who, for compensation or valuable consideration, sells or offers for sale, buys or offers to buy, negotiates the purchase or sale or exchange, or leases or offers to lease used manufactured homes that are owned by a party other than the broker. See Virginia Code 36-85.16
- Claimant: means any person who has filed a verified claim under this chapter. See Virginia Code 36-85.16
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- dealer: means any person, resident or nonresident, engaged in the business of buying, selling or dealing in manufactured homes or offering or displaying manufactured homes for sale in Virginia. See Virginia Code 36-85.16
- manufacturer: means any persons, resident or nonresident, who manufacture or assemble manufactured homes for sale in Virginia. See Virginia Code 36-85.16
- Person: means any individual, natural person, firm, partnership, association, corporation, legal representative, or other recognized legal entity. See Virginia Code 36-85.16
- recovery fund: means the Virginia Manufactured Housing Transaction Recovery Fund. See Virginia Code 36-85.16
- Regulant: means any person, firm, corporation, association, partnership, joint venture, or any other legal entity required by this chapter to be licensed by the Board. See Virginia Code 36-85.16
- salesperson: means any person who for compensation or valuable consideration is employed either directly or indirectly by, or affiliated as an independent contractor with, a manufactured home dealer, broker or manufacturer to sell or offer to sell, or to buy or offer to buy, or to negotiate the purchase, sale or exchange, or to lease or offer to lease new or used manufactured homes. See Virginia Code 36-85.16
Upon a finding by the Board that a violation has occurred, the Board shall direct the responsible manufacturer, dealer, broker, or salesperson to pay the awarded amount to the claimant. If such amount is not paid within thirty days following receipt of the written decision of the Board and no appeal has been filed in court, the Board shall, upon request of the claimant, pay from the recovery fund the amount of the award to the claimant provided that:
1. The maximum claim of one claimant against the fund because of a single or multiple violations by one or more regulants shall be limited to $40,000;
2. The fund balance is sufficient to pay the award;
3. The claimant has assigned the Board all rights and claims against the regulant; and
4. The claimant agrees to subrogate to the Board all rights of the claimant to the extent of payment.
The aggregate of claims against the fund for violations by any one regulant shall be limited by the Board to $75,000 per manufacturer, $35,000 per dealer, $35,000 per broker, and $25,000 per salesperson during any license period. If a claim has been made against the fund, and the Board has reason to believe there may be additional claims against the fund from other transactions involving the same regulant, the Board may withhold any payments from the fund involving such regulant for a period of not more than one year from the date on which the claimant is approved by the Board for an award from the fund. After this one-year period, if the aggregate of claims against the regulant exceeds the above limitations, said amount shall be prorated by the Board among the claimants and paid from the fund in proportion to the amounts of their awards remaining unpaid.
The amount of damages awarded by the Board shall be limited to actual, compensatory damages and shall not include attorney’s fees for representation before the Board.
1991, c. 555; 1992, c. 223; 1994, c. 671; 2009, cc. 141, 579.