Virginia Administrative Code (Last Updated: January 10, 2017) |
Title 18. Professional and Occupational Licensing |
Agency 48. Common Interest Community Board |
Chapter 45. Time-Share Regulations |
Section 240. Narrative sections; exchange program
Latest version.
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If any prospective purchaser is offered the opportunity to subscribe to or participate in any exchange program, the public offering statement shall contain a section captioned "Exchange Program" that shall include the following:
1. A statement of whether membership or participation in the program is voluntary or mandatory; and
2. A statement that the purchaser's contract with the exchange company is a contract separate and distinct from the purchaser's contract with the developer and whether there is a fee associated with membership or participation in the exchange program.
Historical Notes
Derived from Volume 32, Issue 10, eff. March 1, 2016.