Virginia § 55.1-2238 - Registration of time-share program required
Full text of Virginia Code of Virginia § 55.1-2238 — Registration of time-share program required, with citation guidance and answers to common questions.
§ 55.1-2238. Registration of time-share program required
A. A developer may not offer or dispose of any interest in a time-share program unless the time-share program has been properly registered with the Board. A developer may accept a nonbinding reservation together with a deposit if the deposit is placed in an escrow account with an institution having trust powers within the Commonwealth and is refundable at any time at the purchaser's option. In all cases, the reservation shall require a subsequent affirmative act by the purchaser via a separate instrument to create a binding obligation. A developer may not dispose of or transfer a time-share while an order revoking or suspending the registration of the time-share program is in effect.
B. The developer shall maintain records of names and addresses of current independent contractors employed by it for time-share sales purposes.
1981, c. 462, § 55-390; 1983, c. 59; 1985, c. 517; 1994, c. 580; 2019, c. 712; 2020, c. 1011.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 55.1-2238
What does Code of Virginia § 55.1-2238 cover?
Section 55.1-2238 ("Registration of time-share program required") 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 § 55.1-2238?
A common citation format is "Code of Virginia § 55.1-2238" (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 § 55.1-2238 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.