Virginia § 55.1-2157 - Public offering statement; time-shares
Full text of Virginia Code of Virginia § 55.1-2157 — Public offering statement; time-shares, with citation guidance and answers to common questions.
§ 55.1-2157. Public offering statement; time-shares
If the declaration provides that ownership of cooperative interests or occupancy of any units is or may be in time-shares, the public offering statement shall disclose, in addition to the information required by § 55.1-2155:
1. The number and identity of units in which time-shares may be created;
2. The total number of time-shares that may be created;
3. The minimum duration of any time-shares that may be created; and
4. The extent to which the creation of time-shares will or may affect the enforceability of the association's lien for assessments provided in § 55.1-2149.
1982, c. 277, § 55-480; 2019, c. 712.
Frequently Asked Questions About Virginia § 55.1-2157
What does Code of Virginia § 55.1-2157 cover?
Section 55.1-2157 ("Public offering statement; time-shares") 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 § 55.1-2157?
A common citation format is "Code of Virginia § 55.1-2157" (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 § 55.1-2157 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.