Section 690. Prohibited acts  


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  • The following acts are prohibited and any violation may result in action by the board, including but not limited to issuance of a temporary cease and desist order in accordance with § 55-79.100 (b) of the Code of Virginia:

    1. Violating, inducing another to violate, or cooperating with others in violating any of the provisions of any of the regulations of the board, Chapter 23.3 (§ 54.1-2345 et seq.) of Title 54.1 of the Code of Virginia, or Chapter 4.1 (§ 55-79.1 et seq.) or Chapter 4.2 (§ 55-79.39 et seq.) of Title 55 of the Code of Virginia.

    2. Obtaining or attempting to obtain a registration by false or fraudulent representation, or maintaining a registration by false or fraudulent representation.

    3. Failing to comply with 18VAC48-30-80 in offering literature.

    4. Failing to alter or amend the public offering statement as directed in accordance with 18VAC48-30-390 or 18VAC48-30-490.

    5. Providing information to purchasers in a manner that willfully and intentionally fails to promote full and fair disclosure.

    6. Failing to provide information or documents, or amendments thereof, in accordance with subsection B of 18VAC48-30-460.

    7. Failing to comply with the post-registration requirements of 18VAC48-30-460, 18VAC48-30-470, 18VAC48-30-480, 18VAC48-30-490, 18VAC48-30-500, 18VAC48-30-510, 18VAC48-30-520, 18VAC48-30-530, and 18VAC48-30-540.

    8. Failing to give notice to a purchaser in accordance with 18VAC48-30-510.

    9. Failing to give notice to the board of transition of control of unit owners' association in accordance with 18VAC48-30-560.

    10. Failing to transition control of the unit owners' association in accordance with § 55-79.74 of the Code of Virginia.

    11. Failing to turn over books and records in accordance with subsection H of § 55-79.74 of the Code of Virginia.

    12. Providing false information or misrepresenting an affiliation with an association in seeking return of a bond or letter of credit in accordance with 18VAC48-30-570 or 18VAC48-30-580.

    13. Filing false or misleading information in the course of terminating a registration in accordance with 18VAC48-30-610 or 18VAC48-30-620.

    14. Failing to comply with 18VAC48-30-630 and 18VAC48-30-640.

    15. Failing to comply with the advertising standards contained in 18VAC48-30-670.

Historical Notes

Derived from Volume 31, Issue 20, eff. August 1, 2015.

Statutory Authority

§ 54.1-2349 of the Code of Virginia.