HB 723

Abstract

Property Owners' Association Act; meetings of the board of directors; inconsistent provisions. Provides that the provisions of the Property Owners' Association Act govern the conduct of meetings of the board of directors without regard to whether the property owners' association is incorporated or unincorporated. The bill clarifies that such provisions shall not be interpreted to supersede corporate authorities otherwise established by law or governing documents.

Property Owners' Association Act; meetings of the board of directors; inconsistent provisions. Provides that to the extent the provisions of the Property Owners' Association Act (the Act) governing meetings of the board of the directors are inconsistent with provisions governing meetings of the board of directors for an association's type of entity, the provisions of the Act control.

Virginia Nonstock Corporation Act; notice ofboard of directors' meetings. Provides that all meetings of theboard of directors, including any subcommittee or other committeeof the board of directors, where the business of the associationis discussed or transacted shall be open to all members of recordand that notice of the time, date, and place of each meeting of theboard of directors or of any subcommittee or other committee of the board of directors shall be published where it is reasonably calculatedto be available to a majority of the lot owners. Current law allowssuch meetings to be held without notice of the date, time, place,or purpose of the meeting.