Virginia Property Owners' Association Act; Control of Association by Declarant - Senate Bill 419 provides that a declaration may provide for declarant control of an association and its board of directors until no later than three months after 80 percent of all lots that the declarant has reserved the right to develop in all phases of development have been conveyed to a person other than a declarant or builder. The bill also provides that the declarant has the right to develop all additional lots in accordance with provisions in effect at the time of transfer of control and gives the declarant a seat on the board of the association until such time as all lots have been conveyed to a person other than a declarant or a builder. The LAC supported this bill, but it was continued to 2011. |