Virginia § 55.1-2153 - Applicability; waiver
Full text of Virginia Code of Virginia § 55.1-2153 — Applicability; waiver, with citation guidance and answers to common questions.
§ 55.1-2153. Applicability; waiver
A. This article applies to all cooperative interests subject to this chapter, except as provided in subsection B or as modified or waived by agreement of purchasers of cooperative interests in a cooperative in which all units are restricted to nonresidential use.
B. Neither a public offering statement nor a resale certificate need be prepared or delivered in the case of:
1. A gratuitous disposition of a cooperative interest;
2. A disposition pursuant to court order;
3. A disposition by a government or governmental agency;
4. A disposition by foreclosure or transfer in lieu of foreclosure;
5. A disposition to a person in the business of selling cooperative interests who intends to offer those cooperative interests to purchasers; or
6. A disposition that may be canceled at any time and for any reason by the purchaser without penalty.
1982, c. 277, § 55-476; 2019, c. 712.
Frequently Asked Questions About Virginia § 55.1-2153
What does Code of Virginia § 55.1-2153 cover?
Section 55.1-2153 ("Applicability; waiver") 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 § 55.1-2153?
A common citation format is "Code of Virginia § 55.1-2153" (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 § 55.1-2153 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.