Action:
Amendment of Time-Share Regulations to Conform to SB 584 (2020)
General Information
| Action Summary |
Chapter 1011 of the 2020 Acts of Assembly amended the Time-Share Act to provide clarification of terms used in the Act. In addition, the amendment clarifies the applicability of the Act to out-of-state time-share programs offered in Virginia in which the times-shares are direct or indirect beneficial interests in a trust created pursuant to the laws of the state where the time-share program is located. The amendment of the regulation is necessary to conform the regulations to the statutory amendments. |
| Chapters Affected |
Only affects this chapter.
|
| Executive Branch Review |
This Action is exempt from Article 2 of the Administrative Process Act.
The normal executive branch review process is not required. As such, it can be submitted directly for publication and
is effective upon publication.
Exempt Citation:
2.2-4006(A)(4)(a)
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| RIS Project |
Yes [006497] |
| Associated Mandates |
Technical amendments to the Virginia Real Estate Time-Share Act
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| New Periodic Review |
This action will not be used to conduct a new periodic review.
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Stages
Stages associated with this regulatory action.
| Stage ID |
Stage Type |
Status |
|
9063
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Final
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Stage complete. This regulation became effective on 12/01/2020. |
Contact Information
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Name / Title:
|
Tanya Pettus
/
Board Administrator
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Address:
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9960 Mayland Drive, Suite 400
Richmond, VA 23233
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Email Address:
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CIC@dpor.virginia.gov
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Phone:
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(804)367-8510
FAX: (866)490-2723
TDD: ()-
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This person is the primary contact for this board.
