Virginia § 36-85.31 - Recovery fund to be established
Full text of Virginia Code of Virginia § 36-85.31 — Recovery fund to be established, with citation guidance and answers to common questions.
§ 36-85.31. Recovery fund to be established
A. Each manufactured home manufacturer, dealer, broker and salesperson operating in the Commonwealth of Virginia shall be required to pay an initial assessment fee as set forth in subsection B to the Virginia Manufactured Housing Transaction Recovery Fund. Thereafter, assessment fees shall be assessed as necessary to achieve and maintain a minimum fund balance of $250,000.
B. Each applicant approved by the Board for a license as a manufactured home manufacturer, dealer, broker, or salesperson in accordance with the provisions of Article 1 (§ 36-85.16 et seq.) of this chapter shall pay into the fund the following assessment fees:
1. For a manufacturer -- $4,000 for each separate manufacturing facility payable in one installment or $4,400 payable at $2,200 per year for two years.
2. For a dealer -- $500 per retail location.
3. For a broker -- $500 per sales office.
4. For a salesperson -- $50 per individual.
C. All assessment fees collected under this article shall be deposited in the state treasury and the State Treasurer shall credit the amount paid into a special revenue fund from which appropriations may be utilized by the Board in accordance with the express purposes set forth in this article. The assets of the fund shall be invested in accordance with the advice of the State Treasurer. Interest earned on deposits constituting this fund shall accrue to the fund or may be used for the purposes of providing educational programs to the consumer about manufactured housing.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 36-85.31
What does Code of Virginia § 36-85.31 cover?
Section 36-85.31 ("Recovery fund to be established") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 36-85.31?
A common citation format is "Code of Virginia § 36-85.31" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 36-85.31 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.