Virginia Regulatory Town Hall
Agency
Department of Professional and Occupational Regulation
Board
Common Interest Community Board
chapter
Time-Share Regulations [18 VAC 48 ‑ 45]
Action:
General Review of Time-Share Regulations
Action 6356
 
General Information
Action Summary The Common Interest Community Board (“the Board”) intends to undertake a general regulatory review of the Time-Share Regulations. The regulation implements the requirements of the Virginia Real Estate Time-Share Act (§ 55.1-2200 et seq. of the Code of Virginia) regulating the offering and disposition of time-shares in Virginia. The regulation contains the requirements for registration of (i) time-share programs, including requirements for public offering statements and posting of required bonds; (ii) alternative purchases; (iii) time-share exchange programs; and (iv) time-share resellers. The regulation also provides for requirements for maintenance of these registrations, including filing and reporting requirements. The regulation also provides for standards of conduct. The goals of the action include: 1. Review of discretionary requirements imposed on regulated parties to determine whether such requirements impose burdens that are not necessary to protect the public health, safety, and welfare; or are not necessary to effectively administer the registration program, in accordance with the regulatory reduction goal of Executive Directive Number One (2022); 2. Review to ensure the regulation complements current Virginia law and meets applicable federal requirements, if any; 3. Review to ensure the regulation is organized, clear, and understandable; and 4. Review to ensure the regulation provides minimal burdens on regulants while still protecting the public. In addition, the review will ensure the regulation reflects current DPOR procedures and policies, along with any other changes determined to be necessary and appropriate.
Chapters Affected Only affects this chapter.
Executive Branch Review This action will go through the normal Executive Branch Review process.
RIS Project Yes  [7728]
New Periodic Review This action will not be used to conduct a new periodic review.
 
Stages
Stages associated with this regulatory action.
Stage ID Stage Type Status
10259 NOIRA Governor's office review in progress.
 
Contact Information
Name / Title: Anika Coleman  / Executive Director
Address: 9960 Mayland Drive, Suite 400
Richmond, VA 23233
Email Address: CIC@dpor.virginia.gov
Phone: (804)367-8510    FAX: (866)490-2723    TDD: ()-

This person is the primary contact for this board.