{"data":{"id":"us-va/va.-code-38.2-4924","jurisdiction":"us-va","citation":"Va. Code § 38.2-4924","heading":"Sale or transfer of ownership or change in management","body":"A. No provider and no person or entity owning a provider shall sell or transfer, directly or indirectly, more than 50 percent of the ownership of the provider or of a continuing care facility or community-based continuing care without giving the Commission written notice of the intended sale or transfer at least 30 days prior to the consummation of the sale or transfer. A series of sales or transfers to one person or entity, or one or more entities controlled by one person or entity, consummated within a six-month period that constitute, in the aggregate, a sale or transfer of more than 50 percent of the ownership of a provider or of a continuing care facility or community-based continuing care shall be subject to the foregoing notice provisions.B. A provider of community-based continuing care or of a continuing care facility that shall change its chief executive officer, or its management firm if managed under a contract with a third party, shall promptly notify the Commission and the residents or participants of each such change.2012, cc. 208, 303.","path":["Title 38.2. INSURANCE","Chapter 49. CONTINUING CARE PROVIDERS AND COMMUNITY-BASED CONTINUING CARE PROVIDERS","Article 3. General Provisions"],"source_url":"https://law.lis.virginia.gov/vacode/38.2-4924/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:16:05Z","sha256":"19b00083206370bc44cde4ce0d6a835e028416ac31a87fb0f3f6b8e78c73a180","source_id":"us-va","stale":true,"prev":"us-va/va.-code-38.2-4923","next":"us-va/va.-code-38.2-4925"},"notice":"GroundRules: Original legal text. Not legal advice."}