Virginia Code 55.1-2177: Receipt of application; order or registration.
A. The Common Interest Community Board shall acknowledge receipt of an application for registration within five business days after receiving it. Within 60 days after receiving the application, the Common Interest Community Board shall determine whether:
Terms Used In Virginia Code 55.1-2177
- in writing: include any representation of words, letters, symbols, numbers, or figures, whether (i) printed or inscribed on a tangible medium or (ii) stored in an electronic or other medium and retrievable in a perceivable form and whether an electronic signature authorized by Virginia Code 1-257
1. The application and the proposed public offering statement satisfy the requirements of this chapter and the Common Interest Community Board’s regulations;
2. The declaration and bylaws comply with this chapter; and
3. It is likely that the improvements the declarant has undertaken to make can be completed as represented.
B. If the Common Interest Community Board makes a favorable determination, it shall issue promptly an order registering the cooperative. Otherwise, unless the declarant has consented in writing to a delay, the Common Interest Community Board shall issue promptly an order rejecting registration.
1982, c. 277, § 55-499; 2019, c. 712.