Virginia § 38.2-4904 - Annual disclosure statements
Full text of Virginia Code of Virginia § 38.2-4904 — Annual disclosure statements, with citation guidance and answers to common questions.
§ 38.2-4904. Annual disclosure statements
A. Within four months following the end of the provider's fiscal year, each provider shall file with the Commission and make available by written notice to each resident at no cost an annual disclosure statement which shall contain the information required for the initial disclosure statement set forth in § 38.2-4902.
B. The annual disclosure statement shall also be accompanied by a narrative describing any material differences between:
1. The prior fiscal year's pro forma income statement, and
2. The actual results of operations during that fiscal year.
C. The annual disclosure statement shall describe the disposition of any real property acquired by the provider from residents of the facility.
D. In addition to filing the annual disclosure statement, the provider shall amend its currently filed disclosure statement at any other time if, in the opinion of the provider, an amendment is necessary to prevent the disclosure statement from containing any material misstatement of fact or failing to state any material fact required to be stated therein. Any such amendment or amended disclosure statement shall be filed with the Commission before it is delivered to any resident or prospective resident and is subject to all the requirements of this chapter, and the provider shall notify each resident of the existence of such amendment or amended disclosure statement.
E. If the Commission determines that the disclosure statement does not comply with the provisions of this chapter, it shall have the right to take action pursuant to § 38.2-4931.
Frequently Asked Questions About Virginia § 38.2-4904
What does Code of Virginia § 38.2-4904 cover?
Section 38.2-4904 ("Annual disclosure statements") 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 § 38.2-4904?
A common citation format is "Code of Virginia § 38.2-4904" (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 § 38.2-4904 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.