{"data":{"id":"us-va/18vac48-45-430","jurisdiction":"us-va","citation":"18VAC48-45-430","heading":"Return of bond or letter of credit filed in lieu of escrowing deposits","body":"A. An individual bond or individual letter of credit on file with the board in accordance with § 55.1-2220 of the Code of Virginia may be returned to the developer upon written request. Such request shall include a statement from the developer that indicates (i) the purchaser's cancellation period has expired, (ii) the purchaser's default under a purchase contract for the time-share estate entitling the developer to retain the deposit, or (iii) the purchaser's deposit was refunded.\n\nB. Upon issuance of an order of termination of the time-share  program registration pursuant to 18VAC48-45-450, a blanket bond or blanket letter of credit on file with the board in accordance with § 55.1-2220 of the Code of Virginia will be returned to the developer.","path":["Title 18. Professional And Occupational Licensing","Agency 48. Common Interest Community Board","Chapter 45. Time-Share Regulations","Part VI. Time-Share  Program Post-Registration Provisions"],"source_url":"https://law.lis.virginia.gov/admincode/title18/agency48/chapter45/section430/","current_through":"2026 Regular Session (effective July 1, 2026)","vintage":"","retrieved_at":"2026-09-14T04:52:33Z","sha256":"f2344850a46033d76f5019f670bf9255930a17685356451bf84d9353389efc87","source_id":"us-va-vac","stale":false,"prev":"us-va/18vac48-45-420","next":"us-va/18vac48-45-440"},"notice":"GroundRules: Original legal text. Not legal advice."}