SB 672

Abstract

Property Owners' Association Act; Virginia Condominium Act; assessments for legal obligations of associations. Clarifies that neither the Property Owners' Association Act or the Virginia Condominium Act (the Acts) shall be construed to prevent any association organized pursuant to such Acts from levying or using assessments, charges, or fees to pay the association's contractual or other legal obligations in the exercise of the association's duties and responsibilities. The bill also restricts such associations from imposing charges against one or more but less than all unit owners unless otherwise specifically authorized by the Acts. Current law prohibits such charges or assessments from being imposed upon any unit or lot owner unless otherwise specifically authorized by the Acts.

Property Owners' Association Act; Virginia Condominium Act; assessments for legal obligations of associations. Clarifies that neither the Property Owners' Association Act or the Virginia Condominium Act (the Acts) shall be construed to prevent any association organized pursuant to such Acts from using assessments to pay the association's contractual or other legal obligations in the exercise of the association's duties and responsibilities. The bill also restricts such associations from imposing charges against one or more but less than all unit owners unless otherwise specifically authorized by the Acts. Current law prohibits such charges or assessments from being imposed upon any unit or lot owner unless otherwise specifically authorized by the Acts.