Section 430. Return of bond or letter of credit upon termination of time-share project registration

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Upon issuance of an order of termination of the time-share project registration pursuant to 18VAC48-45-450, the bond or letter of credit on file with the board for the purpose of protecting all deposits escrowed pursuant to subsection C of § 55-375 will be returned to the developer.

Historical Notes

Derived from Volume 32, Issue 10, eff. March 1, 2016.

Statutory Authority

§§ 54.1-2349 and 55-396 of the Code of Virginia.

                    
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